By Cynthia Ezekwe

Nigerian Breweries Plc has informed the Nigerian Exchange Limited(NGX) and the  investing public of the issuance of its Commercial Paper (CP) programme with the launch of Series 1, 2 and 3 of the programme under its N100 billion CP program effective from  11 January 2023.

The company disclosed this in a statement dated 11 January 2023, signed by Uaboi G. Agbebaku, its  company secretary, and published on the NGX  platform.

According to the statement, Series 1 would be for a tenor of 91 days, Series 2 would be for 120 days and Series 3 would be for 154 days.

The statement also disclosed that the  CP Programme has a major objective of  generating up to N20 billion to support the company’s short-term funding needs.

Commenting on the benefits of the Programme, Nigerian Breweries stated that it provides  the opportunity for non-equity investors to invest in its , support the company’s cost management initiatives and serves as an additional source of funding for the company.