Neveah Repays ₦23.33bn Commercial Paper Debt, Strengthens Investor Confidence
- Neveah Limited repaid ₦23.33 billion across five commercial paper issuances under its ₦30 billion programme
- CEO Ibidapo Lawal credited financial discipline and cash flow management, thanking investors and business partners for their support
- Lead arranger United Capital said timely repayments can build investor trust as Neveah pursues expansion and new opportunities
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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 company said the redemption of the debt instruments represents a significant milestone in its financing activities and demonstrates its commitment to meeting obligations to investors.
Source: Original
The development comes as Nigerian businesses increasingly explore the domestic debt capital market to raise short-term financing for operations, expansion and working capital requirements.
Breakdown of Neveah's Commercial Paper repayments
According to the company, the redeemed instruments cover Series 1 to 5 of its commercial paper programme, with a combined value of approximately ₦23.33 billion.
The repayments comprise ₦3.47 billion for Series 1, ₦8.28 billion for Series 2, ₦5.50 billion for Series 3, ₦4.49 billion for Series 4 and ₦1.60 billion for Series 5.
Neveah said the timely settlement reflects its financial management practices, liquidity planning and commitment to maintaining investor confidence.
Commercial papers are short-term debt instruments issued by companies to raise funds, typically for working capital and other immediate financing requirements.
Timely repayment is particularly important because it can influence investors' willingness to participate in subsequent issuances.
Neveah CEO highlights financial discipline, growth
Reacting to the development, Neveah's Managing Director, Ibidapo Lawal, attributed the repayments to the company's business fundamentals, financial discipline and cash flow management.
Lawal expressed appreciation to investors and business partners for their continued support.
He said the milestone reinforces Neveah's credibility in Nigeria's debt capital market while demonstrating its commitment to corporate governance and financial responsibility.
According to him, the company remains focused on implementing its long-term growth strategy, creating sustainable value for stakeholders and contributing to Nigeria's economic development.
United Capital explains importance of repayment
Also commenting, Dr. Gbadebo Adenrele, Managing Director of United Capital Investment Banking, which served as lead arranger for the issuances, described the redemption as a positive development.
Adenrele said companies that consistently meet their financial obligations are better positioned to earn investor trust and maintain access to capital.
He explained that confidence in debt issuers is essential to developing a market capable of financing business expansion and economic activity.
Source: UGC
Neveah targets expansion after debt repayment
Neveah operates within the commodities value chain, where access to financing supports trading activities and business development.
The company said it intends to pursue strategic opportunities, expand its market presence and strengthen relationships with investors and other stakeholders.
Although the redemption establishes a repayment record for the five issuances, a comprehensive assessment of Neveah's financial position would require additional information about its earnings, cash flows and outstanding liabilities.
For investors, the development provides evidence that the company has fulfilled these particular debt obligations, potentially supporting confidence in future financing activities.
Top 10 Nigerian states that reduced debt
Legit.ng earlier reported that ten Nigerian states recorded significant reductions in domestic debt between Q2 2023 and Q2 2026, with Imo State leading the ranking after cutting its debt stock by N141.34 billion.
An analysis of figures obtained from the National Bureau of Statistics supplied for the 36 states and the Federal Capital Territory shows that Imo, Akwa Ibom and Ogun recorded the three largest reductions in domestic debt over the period.
Source: Legit.ng
