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UAC of Nigeria Plc lists N54.03bn bond on Nigerian Exchange Limited
via Punch Nigeria1 min read
UAC of Nigeria Plc has listed its N54.03bn Series 1 bond on Nigerian Exchange Limited NGX, providing the company with access to long-term capital and highlighting NGX's role as a multi-asset platform. The seven-year senior unsecured instrument, admitted to trading on April 17, 2026, has a fixed coupon of 17.35 percent and was issued under UACN鈥檚 N150bn multi-instrument programme. Priced at par with 54.03 million units at N1,000 each, the bond will mature on December 15, 2032. Investors will receive semi-annual coupon payments on June 15 and December 15 throughout the tenor. The offer closed in December 2025. The bond includes a four-year moratorium on principal repayment, after which amortisation will begin, with an option for early redemption at the issuer鈥檚 discretion. David Adonri, Vice Chairman of Highcap Securities Ltd, noted that the listing demonstrates issuers' continued ability to access long-term funding, reflecting the depth of the domestic debt market and NGX's relevance for capital raising. The transaction was arranged by Stanbic IBTC Capital Limited, Chapel Hill Denham Advisory Limited, Quantum Zenith Capital & Investments Limited, and FCMB Capital Markets Limited, with Chapel Hill Denham Securities Limited as stockbroker. Stanbic IBTC Trustees Limited served as trustee, and Africa Prudential Plc was appointed registrar. This listing underscores NGX鈥檚 evolution beyond equities, strengthening its fixed income segment.
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Lie Siu Luan, 70, the leader of a baby trafficking ring operating in Indonesia and Singapore, has been sentenced to seven years in prison. Presiding judge Gatot Ardian Agustriono stated that Lie was found guilty of committing crimes for exploitation. The sentence is less than the 10 years prosecutors had sought. Lie had previously admitted to the court that she sent at least 12 babies to Singapore. According to the indictment, she trafficked a baby to Singapore for adoption in 2022, earning approximately S$17,000. Another defendant, Astri Fitrinika, received a sentence of six years and seven months for a similar charge. The arrests occurred last year after a parent reported a baby kidnapping in West Java province. Police rescued several infants held by the syndicate before they could be sold, while other children, rejected by clients in Singapore, were sold within Indonesia, including to adoptive parents in Jakarta.
Osita Okechukwu, a chieftain of the All Progressives Congress, has urged former Vice President Atiku Abubakar to withdraw from the 2027 presidential race and assume the role of a statesman. Speaking on Arise Television, Okechukwu stated that Atiku's decision to contest the 2023 presidential election, despite the Peoples Democratic Party's zoning arrangement, weakened both the opposition and Nigeria's democracy. He highlighted that Atiku's emergence as the PDP presidential candidate in 2022, against calls for the ticket to be zoned to the South, triggered a crisis that continues to affect the party. Okechukwu expressed admiration for Atiku but appealed to him to prioritize national interest over personal ambition, suggesting that his actions in 2022 led to significant collateral damage for the PDP and the political landscape. He argued that if Atiku had allowed a Southerner to contest against President Bola Tinubu, the PDP might have remained strong, even if it lost the election. Okechukwu also faulted Atiku's criticism of President Tinubu regarding a one-party state, asserting that the PDP's internal decisions contributed significantly to its current predicament. The dispute over Atiku's candidacy in 2022 led to the G5 governors' rebellion and deepened divisions within the opposition party, which was seen as a factor in the PDP's defeat in the 2023 presidential election.
The Borno State Government has called on parents to prioritize their children's education and not let insecurity deter them from attending school. This appeal was made during the state's education summit, themed "Strengthening Safe, Inclusive and Gender-Responsive Education: Building Back Borno Better." Grema Terab, Executive Secretary of the Borno State Education Trust Fund, noted that the event evaluated progress and identified gaps in the education system. Discussions included implementing early warning systems for abductions and attacks, and deploying Civilian Joint Task Force members to schools. Abba Wakilbe, the state Commissioner of Education, Science, Technology and Innovation, highlighted significant advancements in human and infrastructural development, including teacher recruitment and training, improved facilities, and curriculum enhancement. However, Wakilbe expressed concern over recent abductions, stating they threaten educational progress and could reverse achievements. Benjamin John, Executive Director of Unique Care and Support Foundation, described the summit as a call for reflection, emphasizing the need to make schools safe. He voiced fears that abductions could exacerbate the out-of-school children crisis, which is already a significant concern in the region. John urged parents to support their children's schooling, assuring them that the government and partners are actively working to ensure school safety.