WorldStage– Creditville Nigeria Limited has disclosed a sequence of insider transactions involving the equity of Chams Holding Company Plc, executing both a sale and a buy-back of 9,000,000 ordinary shares on the Nigerian Exchange (NGX).
According to regulatory filings submitted to the NGX on September 10, 2026, Creditville Nigeria Limited—acting as a related party to Non-Executive Director Mr. Michael Uwakwe—notified the market of share dealings carried out on September 9, 2026.
Transaction Breakdown
Share Sale: Creditville initially sold 9,000,000 units of ordinary shares (ISIN: NGCHAMS00001) at a price of N3.18 per share, totaling N28,620,000.
Share Purchase: On the same date, Creditville purchased an equivalent block of 9,000,000 ordinary shares at N3.18 per share, also valued at N28,620,000.
Execution Location: Both transactions took place in Lagos, Nigeria.
The matched volume and price point indicate a portfolio rebalancing or off-market transfer between related entities without altering Creditville’s overall net shareholding in the tech solutions provider. Both notifications were signed by Oluwaseun Osuji, Company Secretary for Chams Holding Company Plc.
Executing a buy and sell transaction for the exact same volume of shares (9,000,000 units) at the exact same price (N3.18 per share) on the same day—as seen in Creditville Nigeria Limited’s dealings with Chams Holding Company Plc—is uncommon for retail investors, but it serves specific corporate and structural functions for institutional holders.
Chams Holding’s stock closed positively on Friday, September 11, 2026, opening at N3.37 and gained N0.23 to close at N3.60 with 556 trades involving10,905,873 shares valued at N38,248,711.91.
Key Reasons for Same-Day Buy and Sell Transactions
Internal Portfolio or Subsidiary Rebalancing: Institutions often manage holdings across different internal funds, corporate entities, or sub-accounts. Selling from one entity/account and buying through another on the exchange cleans up custody records, updates ownership structures, or changes book entries without altering the parent group’s net ownership position.
Cost Basis Resetting (Tax or Accounting Reasons): A firm may re-execute a position to lock in a specific tax event, reset the cost basis of the assets for corporate accounting, or satisfy specific legal audit standards required by financial regulators.
Collateral and Pledging Adjustments: Shares pledged as security against loan obligations may be released and replaced via pre-arranged market transactions to refresh financing agreements or loan-to-value ratios.
Cross-Deal Settlement / Pre-Arranged Transfer: On organized exchanges like the Nigerian Exchange (NGX), off-market transfers between related parties must often pass through the order book as matched trades to comply with exchange rules and maintain fair market pricing transparency.
Is It Ethical and Legal?
The transaction is ethical and legal, provided specific regulatory conditions are met:
Transparency and Disclosure (Compliant): Insider trading becomes illegal when executed covertly using non-public material information for personal enrichment. In this instance, Creditville submitted formal Notification of Share Dealing by Insider forms to the NGX via the Company Secretary, making the deal public immediately.
No Price Manipulation (Matched Price): Market manipulation (such as “wash trading”) involves buying and selling to artificially inflate trading volumes or drive up share prices to mislead retail investors. Because these transactions were executed at the exact same price (N3.18) and fully declared as a related-party trade (Mr. Michael Uwakwe), it reflects an administrative re-alignment rather than price manipulation.Regulatory Compliance: Under Securities and Exchange Commission (SEC) and NGX rules, related parties are allowed to execute structured trades as long as they follow mandatory disclosure timelines and do not trade during restricted “closed periods” preceding financial releases.
