United Nigeria Airlines Closes 1st Tranche of N100bn CP Programme

Stories by Chinedu Eze

United Nigeria Airlines has closed the first tranche of itsN100 billion commercial paper (CP) programme after raising N22 billion.

The issuance was oversubscribed with demand exceeding the N20 billion target, which reflects strong investor confidence in the airline’s financial performance, growth strategy and credit profile.

In recognition of the strong response, United Nigeria Airlines absorbed 10 per cent of the excess subscription and returned the remainder to subscribers whose applications could not be fully allocated.

Responding to the development, the Managing Director of UNA, Mazi Osita Okonkwo said: “The level of demand we received is a clear endorsement of our business model, and financial performance as well as the confidence the market has in our growth plans. The proceeds will support fleet expansion and operations. We are grateful to the investors who participated and we look forward to more active engagement with investors as we continue with our CP and other capital market programmes.”

The issuance was structured in two series, with tenors of 270 days and 364 days and the transaction was supported by investment-grade credit ratings from two agencies; Agusto & Co. assigned ratings of A3 for the short term and BBB- for the long term, with a stable outlook. DataPro assigned ratings of A1 for the short term and BBB for the long term.

The Managing Director of Meristem Capital Limited, Rasaki Salawu, who confirmed the development said: “We are proud to have served as Lead Issuing House for the registration of United Nigeria Airlines Limited’s N100 billion Commercial Paper Programme and the successful debut issuance of N20 billion under Series 1 and 2, which will support the company’s working capital needs.”

FAAN Boss, Director of Operations Honoured

The Federal Airports Authority of Nigeria (FAAN) celebrates two of its senior executives, the Managing Director/Chief Executive, Mrs. Olubunmi Kuku, and the Director of Airport Operations, Capt. Abdullahi Mahmood, following the conferment of on them.

They were given professional and traditional honours in recognition of their leadership, service and contributions to their respective fields.

Kuku was conferred with the prestigious Honorary Fellowship of the Chartered Institute of Bankers of Nigeria (CIBN) at its Fellowship Investiture Ceremony held in Lagos.
The Fellowship, the Institute’s highest membership distinction, recognises her exceptional career achievements and contributions to banking, financial services and aviation. With extensive experience spanning the Bank of Montreal, Ernst & Young, Bank PHB and the aviation sector, Mrs Kuku is now entitled to use the professional designation FCIB.
Similarly, Mahmood has been honoured with the distinguished traditional title of Barden Gabas of Mubi Emirate, Adamawa State, under the authority of His Royal Highness, Dr. Abubakar Isa Ahmadu, the Emir of Mubi.

The title, historically associated with bravery and valour, recognises Capt. Mahmood’s leadership and service while entrusting him with greater responsibility towards promoting peace, unity and development within the Emirate.

Alieve Relieves Everyday Pain

In Nigeria, the day often begins before the sun is fully up. From the early morning rush to beat traffic to the race to meet deadlines, serve customers, close deals and keep businesses running, Nigerians have mastered the art of pushing through. For many, one job is not enough, and the pursuit of progress means juggling multiple responsibilities, side hustles and income streams. The hustle rarely stops, and neither do the demands of everyday life. Somewhere along the way, it becomes easy to forget that the human body has its limits.

That reality is at the heart of CHI Pharmaceuticals’ latest campaign for Alieve, its pain relief brand, built around a simple but powerful truth “Man No Be Machine.” The campaign captures a familiar Nigerian experience: people often push themselves as though they can run endlessly, until headache, body ache or fever reminds them that they are human. When pain strikes, even the busiest person may have to slow down. And when there is still so much to do, getting back to speed becomes the priority.

Powered by ibuprofen, Alieve is registered with the National Agency for Food and Drug Administration and Control (NAFDAC) and is available in three formulations: 100 mg/5 mL oral suspension for children, and 200 mg and 400 mg tablets for adults. With this range, CHI Pharmaceuticals is expanding its healthcare portfolio with a brand designed to address everyday pain and fever, supported by a communication platform grounded in the realities of Nigerian consumers.
Chief Marketing Officer at TGI Group, Probal Bhattacharya, said, “We frequently push ourselves tirelessly every single day as though we are mechanical engines, but whenever pain strikes, we are quickly reminded that we are only human after all. While Alieve effectively steps in to soothe that physical discomfort, we truly recognize that ‘Man No Be Machine’. Alieve remains a caring companion, empowering hardworking individuals to overcome distressing ache and return to the hustle and their daily routines.”

The message behind “Man No Be Machine” is not that Nigerians should stop striving or lose their drive. It is a reminder that ambition and hard work do not make anyone immune to pain. People can be resilient, determined and committed to their goals while still needing care when their bodies demand attention. With the launch of Alieve, CHI Pharmaceuticals brings a new voice to the everyday pain relief conversation, one that understands the relentless pace of Nigerian life and the importance of getting back to what matters.

Alieve is a pain relief brand from CHI Pharmaceuticals, offering effective relief from pain and fever across its range of 100mg syrup for children, 200mg and 400mg tablets for adults. Powered by Ibuprofen, Alieve is designed to help consumers manage everyday pain and get back to what matters, empowering them to Rise Above Pain.