Zichi Agro Acquires 2,000 Acres in Ogun State
Zichi Agro Allied Industries Plc announced the signing of a land purchase agreement to acquire 2,000 acres in the Ogun State communities of Ajebo and Ogber. This acquisition is part of the company's medium to long-term growth strategy, aimed at positioning Zichi Agro as a leading player in the oil palm plantation and processing industry, as well as intercropping maize and cassava.
The company disclosed this information in a recent statement to the Nigerian Exchange (NGX), where it noted that the acquisition follows a significant surge in its share price, which rose by 800% to N1.81 per share on January 20, 2026. Zichi Agro's shares were suspended from trading on February 23, 2026, pending an investigation into the unusual trading activity.
The company's board, led by Chair Hezekiah Chinyer Oshaba and Managing Director/CEO Antonia Chinyer Akabusi, confirmed that no material corporate information was withheld from the public.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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