By Dipo Olowookere

The series 1 and 2 commercial papers sold to investors in July 2025 by Champion Breweries Plc have been fully repaid on maturity.

The brewery firm issued the short-term debt instruments to the tune of N15 billion about four months ago to fund its working capital.

It was the inaugural commercial paper issuance of the organisation, which recently completed the acquisition of the iconic Bullet energy drink brand. The CP sale was oversubscribed, reinforcing investor confidence.

The Series 1 and 2 issuances attracted diverse participation from institutional investors, signalling strong confidence in Champion Breweries’ financial position, strategy, and growth outlook.

The Series 1 was valued at N4.22 billion and matured in December 2025, while the Series 2 was worth N10.78 billion and matured on April 1, 2026.

The repayment reflects the company’s strong liquidity position and its consistent track record of meeting investor commitments.

According to the chairman of Champion Breweries, Mr Imo-Abasi Jacob, the successful repayment of the debt reflects the brewer’s disciplined approach to financial management and long-term strategy.

“The successful redemption of our series 1 and 2 commercial paper issuance reflects the strength of our financial position and the confidence investors have in our business. It demonstrates the strength of our governance and the resilience of our business,” he stated.

“As we look ahead, we remain focused on executing our growth strategy, driven by a consumer-led approach and responsible innovation, while continuing to deliver sustainable value to all stakeholders,” he added.

Since the establishment of the programme, Champion Breweries has demonstrated its ability to engage the debt capital markets with credibility, reinforcing its reputation as a reliable issuer and a company well-positioned to leverage future funding opportunities.

By Adedapo Adesanya

Nigerian security depository company, Central Securities Clearing System (CSCS) Plc, has disclosed plans to pay N1.78 in dividends to shareholders for the 2025 financial year.

This was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.

The notice indicated that the proposed dividend would be paid to those who hold the stocks of the company as of the qualification date for the dividend, which is today, Thursday, April 9. This means only those who hold the company’s shares as of the closing session will be eligible to receive the stipulated dividend payment.

The payment will be subject to the approval of shareholders at the Annual General Meeting (AGM) of the company scheduled for Thursday, April 23, 2026.

According to the notice, the AGM will be held at the Civic Centre, located at Ozumba Mbadiwe Road, Victoria Island, Lagos, at 10:00 a.m.

If the dividend payment is approved at the meeting, shareholders of the company will be credited on the same day as the annual general meeting.

The notice noted that the closure of the company’s register will be on Friday, April 10, through Tuesday, April 14, 2023, all days inclusive.

By Adedapo Adesanya

All insurance and reinsurance companies operating in Nigeria are required to remit 0.25 per cent of their annual net premium income to a new fund, according to new guidelines by the National Insurance Commission (NAICOM).

The insurance regulator has issued binding guidelines for a new industry-wide protection fund that will compel every licensed insurer and reinsurer in the country to make annual cash contributions, or risk losing their operating licence.

NAICOM published the framework for the Insurance Policyholders’ Protection Fund (IPPF) under the authority of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which was signed into law last August.

The guidelines, which take effect immediately, did not disclose an initial capitalisation target for the fund or a timeline for when it would be considered adequately funded for resolution purposes.

The IPPF is designed to function as a resolution backstop as a capital pool available to settle outstanding policyholder claims when a licensed insurer or reinsurer becomes insolvent or enters regulatory distress.

The mechanism addresses a longstanding vulnerability in the Nigerian market, where policyholders holding valid claims against failed insurers have historically had no guaranteed recourse.

The 0.25 per cent payments are due into designated deposit money bank accounts no later than June 30 each year.

NAICOM said it will supplement industry contributions by injecting 0.25 per cent of the balance held in the existing Security and Insurance Development Fund (SIDF) into the IPPF annually, creating a dual-stream capitalisation model.

The guidelines state explicitly that failure to remit the full assessed contribution within the stipulated timeframe shall constitute grounds for suspension or cancellation of an operator’s licence. The same penalty framework applies to defaults on any loans extended from the fund.

Day-to-day management of the IPPF will be delegated to an independent professional Fund Manager, subject to a minimum paid-up capital threshold of N5 billion.

Investment activity is restricted to low-risk, government-backed instruments. This is a deliberate constraint intended to preserve liquidity and protect the fund from market volatility.

Members are bound by a Code of Conduct that bars them from using their positions for personal advantage or to direct decisions in favour of any insurer, reinsurer, or connected party.

The guidelines introduce a mandatory early-warning mechanism: insurance operators who become aware of imprudent practices within their organisations or elsewhere in the industry are required to report such conduct to NAICOM within five working days.

The commission has provided explicit anti-retaliation protections, stating that no whistleblower shall be subjected to retaliation, intimidation, or any form of adverse action for making a disclosure.