The Nigerian Exchange has postponed the introduction of its revised pricing methodology for equities trading, one day before the new rules were due to take effect on Monday, August 17, 2026.
Clifford Akpolo, Group Head of Communications and Partnerships at Nigerian Exchange Group, confirmed the decision to Nairametrics on Sunday, August 16. The framework was designed to introduce tiered minimum trading volume thresholds for low-, medium- and premium-priced stocks.
Postponed, Not Cancelled
Akpolo made clear that the launch has only been deferred and will be rescheduled. A new date has yet to be announced and may fall outside August.
“We have postponed the planned launch on Monday, August 17. It’s postponed; not shelved. The Exchange will communicate a new date in due course,” he said.
He attributed the delay to ongoing “engagement” rather than a specific operational conflict or scheduling clash, adding that further details would be provided later. Akpolo also confirmed that an earlier Nairametrics report published on the morning of August 16 accurately reflected the rules contained in the Revised Pricing Methodology Framework approved by the Securities and Exchange Commission and circulated to Trading Licence Holders.
What the New Framework Would Have Introduced
The Exchange has described the revision as a measure to strengthen price discovery by ensuring that transactions of material economic value are properly reflected in published market prices, while still protecting against price distortion.
Under the postponed rules, minimum traded quantity thresholds would have been set according to each stock’s prevailing share price:
– Group A (N1,000.00 and above): 10,000 units minimum, with a 10 kobo minimum price movement
– Group B (N500.00 – N999.99): 50,000 units minimum, with a 5 kobo minimum price movement
– Group C (Below N500.00): 100,000 units minimum, with a 1 kobo minimum price movement
The changes were expected to reduce significantly the capital needed to move the prices of high-value stocks such as Seplat Energy, Airtel Africa, Dangote Cement, Geregu Power and Nestlé Nigeria. Market operators had long regarded the previous flat-threshold system as outdated, and the new framework had attracted broad support.
Current Rules Remain in Place
With the postponement, the existing pricing bands continue to apply. These are structured as N100 and above, N5.00 to below N100, and below N5.00.
Investors who had positioned themselves for potential volatility in premium-priced stocks, or who were looking for softer entry points into blue-chip names, will now have to wait for the Exchange to announce a revised effective date. For market participants, the delay means the old pricing structure stays active for the time being and the anticipated shift in how stock prices move has been put on hold.
