Neveah Limited Repays ₦23.33bn Debt, Boosts Investor Trust

Neveah Limited has announced the successful repayment of ₦23.33 billion raised through five series of commercial paper issuances under its ₦30 billion Commercial Paper Programme. The redeemed instruments include Series 1 to 5, with values of ₦3.47 billion, ₦8.28 billion, ₦5.50 billion, ₦4.49 billion, and ₦1.60 billion respectively.

Managing Director Ibidapo Lawal attributed the timely settlement to the company's fundamentals, financial discipline, and cash flow management, expressing gratitude to investors and business partners. This repayment is significant as it reinforces Neveah's credibility in Nigeria's debt capital market and demonstrates its commitment to corporate governance and financial responsibility.

Dr. Gbadebo Adenrele, Managing Director of United Capital Investment Banking, which arranged the issuances, described the redemption as a positive development that enhances investor trust. Neveah operates within the commodities value chain and aims to pursue strategic opportunities and strengthen relationships with stakeholders.