VFD Group redeems N12.83 billion commercial paper, shows strong liquidity
VFD Group has settled its 12.83 billion naira Series 5 Commercial Paper obligation at maturity, demonstrating balance sheet strength amid domestic market turbulence. Folajimi Adeleye, who oversees finance and investor relations for the organization, said internal liquidity generation enabled full payment while reducing short-term liabilities and supporting the company’s credit standing.
The financial services firm has completed five consecutive commercial paper redemptions totaling 33.4 billion naira since launching its program, establishing reliability in Nigeria’s fixed-income sector. This repayment occurs as VFD pursues a 50 billion naira rights offering that allows existing shareholders to purchase 5 billion ordinary shares.
Adeleye indicated the transaction positions the group to deploy fresh capital toward strategic priorities, including the expansion of its Bvndle Loyalty Platform while reinforcing operational resilience for stakeholders participating in the equity raise.
