Neveah repays ₦23.33 billion in commercial paper

LAGOS, Nigeria — Neveah Limited has redeemed five series of commercial paper with a combined value of ₦23.33 billion, the company said in a statement issued on Monday, November 2, 2026.

The redeemed issues were issued under the company’s ₦30 billion Commercial Paper Programme. Series 1 accounted for ₦3.47 billion, Series 2 for ₦8.28 billion, Series 3 for ₦5.50 billion, Series 4 for ₦4.49 billion and Series 5 for ₦1.60 billion.

Ibidapo Lawal, Managing Director of Neveah, said the redemption reflects the company’s ability to meet its obligations to investors on time.

Dr Gbadebo Adenrele, Managing Director of United Capital Investment Banking, which was the lead arranger for the issues, said that honouring commercial paper obligations helps issuers build investor confidence and retain access to the debt capital market.

Neveah describes itself as a participant in the commodities value chain. The company’s statement does not disclose the issue dates, maturities, yields or the amount still outstanding under the programme, and no independent verification of the redemption was included.