Neveah Redeems All N20 Billion Commercial Paper Programme

With a focus on the export of agricultural goods and solid minerals, Neveah Limited is a prominent commodities trading firm. It is happy to announce the redemption of its N1.9 billion Series 15 commercial paper notes, which were issued in November 2023.

Neveah has grown remarkably since starting operations in 2014; from 2019 to 2023, revenues increased by more than 858%. From a modest commodity trading business, the company has grown to become a top supplier and exporter of premium solid minerals and agricultural commodities.

Through its Series 1-15 Commercial Paper Issuances, Neveah Limited has successfully obtained a total of N25.51 billion to date to meet its working capital needs; all of these loans have been fully repaid.

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Mr. Ibidapo Lawal, the Chief Executive Officer of Neveah, stated, “Neveah Limited started off with a simple vision to responsibly trade indigenous products on a global scale. This has not always been easy, considering the trying economic times we find ourselves in, but we have always been able to count on the support of our investors in the CP market who have always given us a chance from the early days. Meeting our obligations by ensuring we repay as and when due is our way of showing good faith and sending the message that banking on us will always be a good choice.”

The Managing Director, Investment Banking at United Capital Plc, Dr. Gbadebo Adenrele stated that: “United Capital Plc is excited to have supported Neveah Limited as Lead Arranger on all its commercial paper issuances. Neveah has shown unwavering dedication to utilizing funds raised from the capital markets for its working capital needs and ensuring repayment to all investors. United Capital Plc will continue to leverage its in-depth knowledge of the capital markets to assist Neveah and other corporates access funding from the capital markets.”