By Aaior K. Comfort
Neveah Limited, a prominent commodity trading company focused on the export of solid minerals and agricultural products, has successfully redeemed its N1.9 billion Series 15 commercial paper notes, initially issued in November 2023.
Since its inception in 2014, Neveah has seen remarkable growth, with revenue surging by over 858%. The company has transitioned from a small commodity trader to a leading dealer and exporter, raising a total of N25.51 billion through its Series 1-15 Commercial Paper Issuances to meet its capital requirements.
Chief Executive Ibidapo Lawal stated, “Neveah started with a vision to responsibly trade indigenous products on a global scale. This has not always been easy, but we have relied on the support of our investors.”
Lawal emphasized that repaying obligations is a testament to their commitment and a message to investors that supporting Neveah is a wise choice.
Gbadebo Adenrele, Managing Director of Investment Banking at United Capital, expressed enthusiasm in supporting Neveah as the Lead Arranger for its commercial paper issuances. He praised the company’s dedication to utilizing funds from the capital markets for working capital needs and maintaining investor trust through timely repayments.
Neveah Limited is registered with the Nigerian Export Promotion Council, reinforcing its commitment to the commodity trading sector.