Zichis Agro Allied Industries Gets ₦2bn Capital Injection
Zichis Agro Allied Industries Plc has announced a ₦2 billion non-equity capital injection by its core promoters, Chilla Entertainment Limited and Winners Investment & Trust Limited. The filing discloses the funds will be recorded as a long-term liability on the company's balance sheet, with provision for future conversion to equity during a public offer or rights issue.
Zichis Agro Allied Industries Plc filed a corporate action on 10 June 2026 announcing that its promoters, Chilla Entertainment Limited and Winners Investment & Trust Limited, have injected ₦2 billion into the company. The capital is classified as a senior liability and will be treated as a long-term liability on the balance sheet, redeemable at a future date through debt conversion to equity via a public offer or rights issue.
According to the filing, the funds will be deployed across three primary areas: expansion of poultry production capacity, increased raw material procurement to support feed mill operations, and accelerated development of a 2,000-acre palm estate in Ogun State. Land-clearing activities on the Ogun State estate have already commenced across the Ogbere and Ajebo axes.
The company also disclosed a recent visit to the Nigerian Institute for Oil Palm Research (NIFOR) in Edo State, describing it as part of efforts to establish a partnership for acquiring high-yield oil palm seedlings and implementing modern cultivation techniques. The ₦2 billion injection is described in the filing as part of a broader ₦50 billion growth and expansion programme. The filing was signed by MD/CEO Akabusi Anthonia Chinyere and Executive Director of Finance & Strategy Chris A. Ogbaisi.
