Directors, insiders and their related persons in possession of confidential price sensitive information (“insider information”) shall not deal with the securities of the Company where such would amount to insider trading. Directors, insiders and related parties shall be prohibited from disposing, selling, buying or transferring their shares in the Company for a period commencing from the date of receipt of such insider information until such a period as such information is released to the public or any other period as defined by the Company from time to time.
Directors and their related parties are expected to immediately notify the Company Secretary in the event of any dealing in the Company’s shares/securities to enable the Company Secretary comply with regulatory obligations in respect of insider-trading
The Banks and Other Financial Institutions Act, 2020, defines a Director as including, director’s wife, husband, mother, brother, sister, son, daughter, their spouses, a company in which the director is also a director or shareholder or holds at least 5% shareholding of the company, a company whose board or managing director, is accustomed to act in accordance with the advice, directions or instructions of the director and all other related parties as may be determined by the Central Bank of Nigeria.