The Board of Directors of Nigerian Breweries Plc, Nigeria’s foremost brewing company, has announced the official listing of a newly allotted 20,706,894,542 ordinary shares on the Nigerian Exchange Limited(the “ NGX”).

The allotted shares, which come at 50k each, arose from the company’s Rights issue of 22,607,491,232 ordinary shares of 50kobo each at N26.50 per share, which ended recently.

According to a statement issued by the Legal Director/ Company Secretary, Uaboi Agbebaku, the allotted shares were formally listed on the Daily official list of the Nigerian Exchange Limited(the “NGX”) on Monday, December 30th, 2024.

Agbebaku noted that with this listing, the company’s total outstanding shares listed on the NGX have now increased from 10 276,132,378 ordinary shares to 30,983,026,920 ordinary shares of 50kobo each.

The stage is set for one of Africa’s most anticipated cultural celebrations, and this year’s 2024 Calabar Carnival and Festivals is gearing up to be an unforgettable extravaganza.

Zenith Bank Plc comes onboard as an official sponsor of this iconic event, infusing the festival with even more energy, innovation, and a renewed sense of purpose.

This year’s theme, “Our Shared Prosperity,” has resonated deeply with the Governor of Cross River State, Senator Bassey Otu, who expressed, “We are thrilled to present an even greater array of activities, as we come together to celebrate Our Shared Prosperity.”

The Group Managing Director/Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON, in her remarks expressed enthusiasm, stating ‘’The Calabar Carnival resonates with Zenith Bank’s numerous CSR projects and we are proud to be part of this legacy of the Cross River State people. At Zenith Bank, such CSR projects that touch lives and engender unity are considered critical, like the Zenith Youth Parade which we sponsor annually in Lagos. We congratulate the Governor for the elaborate preparations for this year’s carnival and we look forward to it’s resounding success’’

Mary Ephraim-Egbas, CEO of Okhma Global Limited  (The official Carnival Calabar and Festivals Brand Marketing Company), emphasized, “Zenith Bank’s partnership in showcasing Cross River State’s talent and fostering local empowerment aligns perfectly with the theme of ‘Our Shared Prosperity.’ This collaboration enhances their connection with the Cross-River community, promotes economic growth, and creates new opportunities for all, positioning Zenith Bank as a key player in driving collective prosperity.”

Receiving the brands partnership and sponsorships, Sir Gabe Onah, Chairman of CRS Carnival Calabar Commission, added, “Zenith Bank’s support is invaluable. It helps us elevate the festival and increase its global visibility.” His statement perfectly aligns with the festival’s theme, demonstrating how partnerships like Zenith’s are essential in showcasing Nigeria’s creativity and talent to the world, creating opportunities for economic growth and cultural exchange.

With Zenith Bank’s sponsorship, the 2024 Calabar Carnival is set to be a celebration like no other, bursting with excitement, creativity, and unity. As the festival draws near, it promises to stand as a powerful testament to the spirit of shared prosperity, where cultural heritage, innovation, and community come together to create lasting impact.

The naira strengthened marginally against the dollar in the parallel foreign exchange market on Tuesday, Christmas Eve.

A Bureau de Change operator in Wuse Zone 4, Abubakar Alhasan, told Newsmen that the naira appreciated by N3, trading at N1,637 per dollar on Monday, compared to N1,640 previously.

Meanwhile, the naira weakened slightly in the official market, closing at N1,540.45 per dollar on Tuesday, down from N1,539.55 the day before. This development comes as Nigerians prepare for the 2024 Christmas celebrations on Wednesday, December 25.

It is worth noting that Nigeria based its proposed N49.7 trillion 2024 budget on an exchange rate of N1,500 per dollar.

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