Insiders · NG
List of insiders who have filed at least one transaction on this market. Primary market is derived from the first linked company.
Insider dealing disclosure in Nigeria
A statute and an exchange rulebook
Nigeria's capital market answers to the Securities and Exchange Commission (SEC Nigeria), whose role as apex regulator was restated in the Investments and Securities Act 2025, which repealed the 2007 Act. The day-to-day duties of listed companies on directors' dealings are set by the exchange, in the issuers' rules of the Rulebook of the Nigerian Exchange (NGX), first issued in 2015 and amended since.
Same-day notice to the company secretary
Rule 17.15 requires every issuer to adopt a securities trading policy covering employees and directors, circulate it internally and post it on its website. Directors, persons discharging managerial responsibility, persons closely connected to them and other insiders must notify the issuer in writing, through the company secretary, of every trade on their own account in the issuer's shares on the day it takes place. The issuer keeps a register of these trades and must hand it to the exchange within two business days of a request.
Interim and annual reports must also say whether the company has a code of conduct for directors' dealings at least as strict as the exchange standard, whether directors complied with it, and what was done about any breach.
Closed periods tied to board meetings
Rules 17.16 to 17.18 bar directors, managers, advisers and their connected persons from trading during closed periods. The triggers include financial results, dividend declarations, share issues, mergers, takeovers and buy-backs, major disposals, material litigation and any other information likely to move the share price. A closed period opens 15 days before the board meeting that considers the matter, or when agenda papers circulate if that is earlier, and ends 24 hours after the information is submitted to the exchange. Issuers must notify the exchange before each closed period starts.
What the NGX feed shows here
Companies post notices of directors' dealings in the NGX disclosure library, usually as a PDF letter. This site reads that index daily, extracts each transaction from the PDF and stores it trade by trade, with naira amounts converted to euros. When a PDF cannot be parsed, the notice is still listed, with fewer details. Formats differ from one issuer to the next, so the linked original document is the reference. The glossary explains the role labels used across markets.