A commodity trading company, Neveah Limited, has redeemed its obligation of the N2.92bn Series 7, 8 and 11 commercial papers issued between February and July 2023. The company, which deals in solid minerals and agricultural products, said the growth trajectory of the firm led to it issuing the CPs. Speaking on the CP redemption, Chief Executive Officer of Neveah, Mr Ibidapo Lawal, said, “We are steadfast in our pursuit to become the foremost indigenous export company for solid minerals and agricultural products in Nigeria. “Neveah has continuously shown its commitment to utilising funds from the capital markets to improve its revenue and profit. The company had also raised about N11.12bn via its Series 6-15 Commercial Paper Issuance to meet working capital requirements.

Source: Punch February 05, 2024 09:39 UTC