The Nation Newspaper

Category: Money

  • Neimeth eyes international markets with new five-year growth plan

    Neimeth eyes international markets with new five-year growth plan

    • Turnover doubles on strategic initiatives

    Neimeth International Pharmaceuticals Plc has outlined a five-year strategic growth plan aimed at consolidating the company’s operations as a dominant brand within the Sub-Saharan Africa.

    Managing Director, Neimeth International Pharmaceuticals Plc, Pharm Valentine Okelu, said the company’s new strategic direction is to establish Neimeth as a recognised international brand within the Sub-Saharan Africa.

    According to him, the company’s five-year projections from 2025 to 2029 outline a path toward substantial revenue and profit growth.

    “We will pursue this ambition with vigour, building strong partnerships and leveraging market opportunities to drive sustainable expansion,” Okelu said.

    He said the company was making concerted efforts to create value for its shareholders, stakeholders, and the broader healthcare industry.

    Against the background of a double in turnover in 2024, he said the company has experienced a significant recovery in its operations and has been positioned as one of the fastest-growing pharmaceutical companies on the Nigerian stock market.

    Speaking at a media parley at the weekend, Okelu pointed out that the interim reports and accounts of the company indicated a strong growth outlook driven by fundamental improvements in its business.

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    “Our emphasis on cost efficiency and effective route-to-market strategies has resulted in all-round operational enhancements,” Okelu, who took over the management of the company in August 2023 said.

    Key extracts of the interim report and accounts of Neimeth for the year ended December 31, 2024 showed that turnover doubled by 102 per cent from N2.2 billion in 2023 to N4.5 billion in 2024. The company reversed its negative bottom line with an operating profit of N338.5 million as against N1.3 billion operating loss incurred in the previous year. This represented an absolute profit improvement of N1.638 billion.

    The bottom-line performance was driven by improved cost efficiency with marketing and distribution expenses dropping from N792.3 million in 2023 to N578.7 million in 2024. Administrative expenses also declined from N868.1 million to N558.0 million, while finance costs saw a moderate increase from N667.9 million to N770.8 million.

    However, the company recorded significant foreign exchange (forex) loss of N2.03 billion, leading to a pre-tax loss of N1.69 billion in 2024.

    Okelu said the company is aggressively restructuring its foreign-denominated loans, converting them into naira to shield it from further forex volatility.

    “Additionally, we are negotiating extended payment terms on outstanding facilities to create financial headroom for a swift return to positive cash flow and profitability,” Okelu said.

    He explained that the company was actively pursuing market expansion as a crucial component of its diversification strategy with a view to reinforcing resilience and long-term sustainability.

    “Our expansion programme is twofold: the modernisation of our existing Oregun plant and the development of a new state-of-the-art manufacturing facility. We recently completed the long-planned upgrade of our manufacturing facility in Oregun, Lagos, which was originally established in 1976. This upgrade aligns with Good Manufacturing Practices (GMP) and enhances our cGMP compliance. We are also embarking on capacity upgrade of the plant to improve its manufacturing capacity.

    “In line with our vision of becoming a pharmaceutical manufacturing hub for Africa, Neimeth is constructing a WHO-compliant production facility in Amawbia, Anambra State. This facility will serve as a center of excellence for pharmaceutical research, development, manufacturing, and distribution. Upon completion, it will be presented for certification by the WHO and other global regulatory agencies to ensure adherence to the highest industry standards.

    “Furthermore, this facility will enable us to maximize the opportunities presented by the African Continental Free Trade Agreement (AfCFTA), positioning Neimeth as a key player in pharmaceutical production and distribution across the continent,” Okelu said.

    He added that Neimeth recognises the critical role of research and development (R&D) in driving innovation and maintaining market leadership, and thus remains committed to the whole chain of local capacity development including product formulation, manufacturing, and distribution.

  • VFD Group divests key subsidiary in N7billion deal

    VFD Group divests key subsidiary in N7billion deal

    The board of VFD Group has approved the full divestment of the group’s shareholding in Atiat Limited, a key subsidiary where VFD Group held 57.26 per cent majority stake.

    The deal, valued at N7 billion, involved 343.547 million ordinary shares of in Atiat Limited.

    VFD Group stated that the transaction marked an important milestone for both companies, underscoring VFD Group’s commitment to delivering superior value to its stakeholders while positioning Atiat for an exciting new chapter of growth and expansion.

    According to the company, the decision to divest aligns with VFD Group’s strategic framework, which emphasizes optimizing its portfolio by directing resources toward high-growth opportunities.

    VFD Group stated that the N7 billion transaction reflected the strong value created under VFD Group’s stewardship and its ability to execute disciplined investment decisions that maximize shareholder returns.

    Speaking on the divestment, Group Managing Director, VFD Group, Nonso Okpala, said the transaction was a testament to the quality of the group’s investment decisions and its ability to unlock value for investors.

    Said he: “The divestment of our stake in Atiat Limited is a strategic move that allows us to redeploy capital into higher-growth opportunities while maintaining our focus on delivering exceptional returns for institutional and retail investors”.

    He noted that over the years, Atiat has evolved into a formidable player in Nigeria’s financial services sector.

    According to him, under VFD Group’s leadership, the company expanded its market presence, achieved significant financial milestones, and built a solid governance framework that positions it for continued success.

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    He said the divestment was a natural next step in Atiat’s growth journey, allowing it to chart an independent course while capitalizing on new opportunities in the financial ecosystem.

    “Atiat Limited remains a strong, financially sound, and forward-focused institution. Over the last four years, the company has recorded exponential growth in revenue, profitability, and shareholder value, with year-on-year cumulated average growth in gross earnings rising from N2 billion in 2021 to N9.7 billion in 2024, profit before tax  growing from a loss of N30.4 million in 2021 to N1.4 billion in 2024 unaudited report. Shareholders’ funds have also surged from N327 million in 2021 to N8.2 billion in 2024. Its corporate governance structure, led by a board of distinguished professionals, and its commitment to operational excellence have positioned Atiat as a leader in the financial services sector.

  • Caverton Offshore Support Group posts N50.5b loss

    Caverton Offshore Support Group posts N50.5b loss

    Caverton Offshore Support Group Plc saw its pre-tax loss quadrupled in 2024 as the marine, aviation and logistics services company remained under significant influence of foreign exchange (forex) changes.

    Key extracts of the interim report and accounts of Caverton for the year ended December 31, 2024 released at the Nigerian Exchange (NGX) showed that loss before tax jumped to N50.53 billion in 2024 as against N12.66 billion loss before tax recorded in 2023.

    The company indicated net exchange difference of N43.49 billion in 2024 compared with N4.65 billion in 2023, a major factor that contributed to the increase in the loss. Also, operating expenses rose by 29 per cent to N31.93 billion as against N24.8 billion reported in 2023.

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    Meanwhile, turnover grew by 43 per cent to N45.6 billion in 2024 compared with N31.99 billion in 2023.

    Group Chief Executive Officer, Caverton Offshore Support Group, Mr. Bode Makanjuola said the company has remained resilient in the face of significant macroeconomic challenges.

    According to him, despite the unprecedented shift in Nigeria’s economic landscape, the company achieved a positive operating profit exceeding N9 billion, underscoring the strength and adaptability of its business model.

  • Vitafoam doubles profit

    Vitafoam doubles profit

    Vitafoam Nigeria Plc doubled its pre-tax profit to N4.47 billion in the third quarter.

    Key extracts of the interim report and accounts of the company for the nine-month ended December 31, 2024 released at the Nigerian Exchange (NGX) showed group profit before tax rose by 100 per cent from N2.24 billion in December 2023 to N4.47 billion in December 2024. Net profit rose by 91 per cent to N2.980 billion from N1.562 billion, evidence of operational efficiency.

    With these, earnings per share (EPS) increased by 94 per cent from N1.14 in December 2023 to N2.21 in December 2024. The group’s total assets also rose to N58.173 billion from N51.348 billion, an increase of 13.29 per cent.

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    Group Managing Director, Vitafoam Nigeria Plc, Mr. Taiwo Adeniyi, said the results demonstrated the group’s commitment to delivering value to stakeholders despite the economic headwinds.

    “Our strategic focus on operational efficiency, innovative product offerings, and customer satisfaction has enabled us to navigate the challenging environment and achieve significant growth. We remain optimistic about the future and are confident that our strategies will continue to yield positive results,” Adeniyi said.

    Vitafoam’s sales cut across other countries.  The group comprises six subsidiaries – Vitafoam Serria Leone Ltd; Vitapur Nigeria Ltd; Vitablom Nigeria Ltd; Vitavisco Nigeria Ltd; Vono Furniture Products Ltd and Vitaparts Nigeria Ltd.

  • Uche Orji joins Access Bank’s board

    Uche Orji joins Access Bank’s board

    Access Holdings Plc has appointed Mr. Uche Orji as an independent non-executive director of its flagship subsidiary, Access Bank Plc.

    The appointment took effect from January 7, 2025, following the approval of the Central Bank of Nigeria (CBN).

    The board of Access Holdings said the appointment reflected the group’s commitment to enhancing governance practices and ensuring a diverse and experienced board.

    Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three decades of professional and board experience.

    He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

    He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an executive board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

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    Previously, Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

    He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

     Chairman, Access Bank, Mr. Paul Usoro, said Orji was appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the bank as it continues to pursue its strategic objectives.

    “We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

    “His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

    “On behalf of the board, management and staff, I warmly welcome Mr. Orji to the board and look forward to his contributions towards our goal of becoming one of the top five African Banks in the shortest possible time,” Usoro said.

  • Interswitch unlocks startups with ecosystem innovation mixer

    Interswitch unlocks startups with ecosystem innovation mixer

    Interswitch Group has organised the maiden edition of its startup innovation mixer, which took place at the Interswitch Innovation Hub at the company’s Lagos headquarters.

    Themed “Unlocking Synergies between Startups and Established Corporates,” the event attracted a cross-section of stakeholders across the broader tech, fintech and payments industries, including Interswitch Alumni.

    This Innovation Mixer was conceptualized by Interswitch to bridge the gap between startups and established businesses and the program is designed to provide a periodically sustainable platform for stakeholders across the tech ecosystem to collaborate, share ideas, and forge partnerships, progressively bringing together a vibrant mix of innovators, tech enthusiasts, investors, and industry leaders for an evening of transformative solutions and networking.

    Highlighting the significance of the event, Chief Innovation Officer, Interswitch, Adaobi Okerekeocha, noted that partnership remains central to driving innovation within Africa’s tech ecosystem. She expressed optimism about the mixer’s potential to generate lasting impact, saying:

    “At Interswitch, we believe collaboration is the bedrock of innovation. As the tech and innovation landscape in Nigeria and across Africa continues to evolve, its immense and untapped potential calls for platforms like this to unlock new possibilities.

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    Our Startup Mixer series represents a pivotal step toward building a vibrant community where startups and established corporates can exchange ideas, explore opportunities, and forge synergies that drive impactful solutions.”

    The featured panel discussions, including that moderated by Akeem Hassan, Technical Adviser to the Honourable Commissioner, Ministry of Innovation, Science, and Technology, Lagos State Government.

    Panelists on the line-up at the event included Ireayo Oladunjoye, Managing Director, Endeavor Nigeria represented by  Esther Otusanya, Selection and Growth Manager, Endeavor Nigeria; Linda Ochugbua, Digital Sales Manager, BusinessDay; and Olapeju Nwanganga, Founder, Pepcode, and collectively, they delved into salient themes, exploring practical ways to strengthen collaboration between startups and established corporates.

    Participants at the event contributed to stimulating discussions, which afforded meaningful networking opportunities as well as a tour of Interswitch’s brand new Innovation and Ventures Labs and co-working spaces available to Interswitch partners and startup companies.

    The mixer also included a session in which Interswitch’s Innovation Team shared inspiring success stories, and examples of transformative partnerships championed by Africa’s pioneer tech/payments unicorn, which are shaping the future of Nigeria’s tech ecosystem and driving innovation across Africa.

    By hosting this event, Interswitch reaffirms its unwavering commitment to nurturing innovation and fostering partnerships that drive growth within Nigeria’s tech ecosystem and beyond.

  • SEC pledges commitment to financial inclusion for women

    SEC pledges commitment to financial inclusion for women

    In recognition of the critical role financial inclusion plays in national development, the Securities and Exchange Commission (SEC) has reaffirmed its commitment to ensuring that women—whether traders, entrepreneurs, professionals, or investors—have equitable access to financial services, investment opportunities, and the necessary tools to build sustainable wealth.

    Speaking at the She’s Included Gender Inclusion Conference and Summit 2025, themed “Breaking Barriers, Building Resilience for Sustainable Economic and Financial Inclusion,” SEC’s Executive Commissioner for Corporate Services, Mrs. Samiya Usman, emphasized the Commission’s dedication to fostering an inclusive financial ecosystem that empowers women across all sectors.

    Usman said that as Nigeria’s apex regulator of the capital market, the SEC operates with a dual mandate: to regulate and develop the market.

    In fulfilling this mandate, she noted that the Commission recognizes the pivotal role financial inclusion plays in national development, saying that a financially empowered woman is an empowered household, and an empowered household is the bedrock of a prosperous economy.

    She disclosed that over the years, the SEC has taken deliberate steps to ensure that the Nigerian capital market fosters inclusivity and caters to the unique financial needs of women.

    Said she: “Through policy advocacy, regulatory frameworks, and partnerships, we continue to encourage the development of women-focused financial products and services. I am pleased to highlight that some of our capital market operators have heeded this call by designing tailored investment solutions.

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     “A notable example is United Capital’s Women Wealth for Women Fund, which seeks to empower women with wealth creation opportunities. Similarly, within the commodities market, innovative financial products have been structured to enhance women’s participation in agribusiness, an area where many Nigerian women play a critical role.

     “At the mention of this summit, we mobilized our operators to key into this conference as part of their support towards financial inclusion and they are all represented here with their booths showcasing their products and ready to discuss and educate you on your investments and opportunities in the capital market. We have six registrars under the Institute of Capital Market Registrars (ICMR) and Fund Managers of Nigeria (FMAN)”.

    Additionally, she said the Commission has actively promoted Investor Education for Women, through Webinars, reaching market women, SMEs, and women-led businesses through targeted financial literacy programmes.

    Usman disclosed that through these initiatives, thousands of women have gained the knowledge required to participate meaningfully in the capital market.

    The SEC Executive Commissioner said that despite the progress made, several barriers still hinder women’s full participation in the financial sector ranging from cultural limitations to financial literacy gaps, inadequate access to credit, and predominance of informal economic activities among women.

    Usman stated that in Northern Nigeria, in particular, financial exclusion remains a pressing concern, making it imperative to intensify efforts to bridge the gap.

     “We acknowledge that there remains a lot of work to be done. Knowledge is key, and financial empowerment ensures that communities as a whole reap the benefits of economic progress,” Usman said.

    She enjoined stakeholders to work collectively to dismantle these barriers adding that the SEC is committed to strengthening collaboration with stakeholders to drive more gender-focused financial inclusion policies, encourage financial institutions and market operators to introduce more products tailored to the unique needs of women, expand investor education programs to reach even more women, particularly in underserved regions and support women-led businesses and SMEs in accessing capital market financing for growth and sustainability.

    “We are delighted to be part of this noble initiative, which aligns with our unwavering commitment to fostering financial inclusion, empowering women, and strengthening economic resilience.

    “I would like to commend the organisers for convening this impactful event and for choosing such a thought-provoking theme: Breaking Barriers, Building Resilience for Sustainable Economic and Financial Inclusion. This theme resonates deeply with the SEC’s mission to build a capital market that serves all segments of society and ensures no one is left behind in the quest for economic empowerment,” she added.

  • Oando’s turnover rises to N4.1tr on increased production

    Oando’s turnover rises to N4.1tr on increased production

    • Our focus in 2025, by Tinubu

    Oando Plc grew its turnover by 45 per cent to N4.1 trillion in 2024 as the energy company ramped up production on the back of successful integration of its acquired assets.

    Key extracts of the financial results for the year ended December 31, 2024 released at the weekend showed that turnover rose from N2.9 trillion in 2023 to N4.1 trillion in 2024, an increase of 45 per cent. Profit after tax also increased by nine per cent to N65.5 billion in 2024.

    Oando’s production for the 12-month period averaged 23,911 barrels of oil equivalent per day (boe/d) in 2024, an increase from the 23,258 boe/d achieved in 2023. The growth was primarily driven by the acquisition of an additional 20 per cent stake in the NAOC JV in fourth quarter 2024, partially offset by production disruptions due to shut-in wells resulting from sabotage activities.

    Group Chief Executive, Oando Plc, Wale Tinubu, said the 2024 performance highlighted the transformation undergone by the group during the year, highlighted by the successful acquisition and subsequent integration of NAOC Ltd.

    According to him, the acquisition significantly enhanced the group’s production capacity, attaining peak operated production of 103,206boepd and net entitlements of 45,000 boepd.

    He said the financial results underscored the strength of the company’s business model despite the challenges in the operating environment and the costs associated with the onboarding of NAOC.

    He pointed out that the group had incurred $18.1 million on capital expenditures related to the development of oil and gas assets and exploration and evaluation activities, compared to $52.3 million in 2023.

    He said Oando has been positioned to build on the momentum of a successful 2024 and would leverage its strong operational capabilities and strategic partnerships to deliver value to its stakeholders.

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    “In 2025, our priority shall be to drive cost optimisation, operational efficiency, streamline processes, enhance procurement, and leverage technology to improve productivity across our operations. In parallel, we will intensify efforts to boost production through the dual approach of rig-less and workover initiatives while executing an aggressive drilling programme across three rig lines.

    “Simultaneously, in collaboration with other stakeholders, we are proactively tackling above-ground security challenges by implementing a revamped security framework that integrates advanced surveillance technology and intelligence-driven initiatives to curb the perennial, unnecessary, and unjustifiable theft of oil to ensure the long-term integrity of our vast network.

    “As we look ahead to an exciting and successful 2025, we recognise that achieving our goals requires the unwavering support of our host communities and partners. Through extensive engagement, we will foster a collaborative ecosystem that not only secures our operations but also drives shared prosperity and sustainable development for all,” Tinubu said.

    As the company prepares for its 2025 targets, it is bolstered by optimistic oil demand predictions. The U.S. Energy Information Administration’s (EIA) global oil demand predictions forecast global demand to grow by 1.3 million barrels per day (bpd) in 2025, a significant increase from the estimated growth of 0.9 million b/d in 2024. This projected growth surpasses the pre-pandemic 10-year average (2010-2019) of 1.5 million bpd, indicating a positive trajectory for the global oil market.

    The release of the 2024 results brought Oando up to date on its financial reporting, successfully meeting all regulatory requirements.

  • Lagos, LCFE seek to unlock energy investments

    Lagos, LCFE seek to unlock energy investments

    The Lagos State Government and Lagos Commodities and Futures Exchange (LCFE) have committed to working together to unlock vast investment opportunities in the state’s electricity supply value chain.

    In furtherance of the enactment of Lagos State Electricity Law 2024, which empowers the state government to generate its electricity, the LCFE and the state government at the weekend organised a breakfast meeting to galvanise stakeholders on the prospects of the state’s energy investments.

    The theme of the meeting was: Building a Competitive Electricity Market Place: Strategies to attract Investment and boost Confidence in the Lagos Electricity Market, using the Capital Market.

    Lagos State Governor, Babajide Sanwo-Olu, said the government remained committed to creating an enabling environment for investors, with a focus on promoting sustainable development and economic growth.

    Sanwo-Olu, who was represented by his Deputy, Dr Obafemi Hamzat, urged Lagosians to take advantage of the new electricity law for investment.

    According to him, the development of the energy sector for generation of electricity would reduce environmental pollution as against the use of generators.

    He noted that under the new arrangement through Lagos State Ministry of Energy and Mineral Resources and LCFE, there are lot of investment opportunities.

    “Investors will make more money. It means people can purchase power. It is going to the market. That is what it is done in the western world. Lagosians should participate. They should educate themselves about the new initiatives online,” Sanwo-Olu said.

    Managing Director, Lagos Commodities and Futures Exchange (LCFE), Akin Akeredolu-Ale, expressed optimism that collaboration of the LCFE with the Lagos State Government would provide limitless opportunities for investment in electricity.

    According to him, the Lagos power market size is estimated at about$15 billion in 2025, and is projected to grow at a cumulative annual growth rate (CAGR) of 4.28 per cent between 2025 and 2030.

    “Today, we are officially launching the LCFE Electricity Receipt Quotation (LERQ) Electricity Board with the following products tradeable on the bourse: power generation contracts, power distribution contracts, power infrastructure contracts, electricity commercial papers, metering contracts, renewable energy contracts and electricity receivables contracts

    “Some of our core functions are provision of market to trade electronic receipts of commodities, creation of liquidity on any investment, de-risking, advocacy and capacity building. We also provide structured and fungible products as well as exit strategy for investors. We are licensed by the Securities and Exchange Commission (SEC) and we operate as a self regulatory organisation (SRO).

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    “There are many investment opportunities in hydrocarbons in the global space . We shall develop commodities contracts to trade electricity, providing a platform for investors to participate in the electricity market.

    Our market provides opportunities for price discovery. We are ready to securitize power assets. There are huge opportunities in this area,” Akeredolu-Ale said.

    Chairman, Lagos Commodities and Futures Exchange (LCFE), Chief Onyenwechukwu Ezeagu lauded the Lagos State Government for its continued  collaboration with LCFE and explained that the Energy Bill would encourage innovative products tradeable on commodities exchanges.

    “The Lagos Commodities and Futures Exchange, as a key player in the capital market, recognizes the transformative potential of the Energy Bill. It is not just a policy framework but a call to action for all stakeholders to collaborate, innovate, and channel investments into Lagos State’s burgeoning electricity market. The Bill’s implementation will foster a competitive and investor-friendly electricity marketplace,” Ezeagu said.

    Director General, Securities and Exchange Commission (SEC), Dr Emomotimi Agama commended LCFE for its transformative approach to commodities trading in Nigeria.

    Agama, who was represented by the Executive Commissioner, Operations, Securities and Exchange Commission (SEC), Bola Ajomale, said the Commission was ready to support the lofty initiatives of the Exchange.

    Energy and finance experts discussed various options to invest in electricity and the consideration of investors in any financial market. There were outpouring of goodwill messages, including the Danish Consular General, Jette Bjerrum.

  • AVA Global Asset Managers floats new N1b mutual fund

    AVA Global Asset Managers floats new N1b mutual fund

    AVA Global Asset Managers Limited (AVA GAM) has opened application list for subscription to a new mutual fund that seeks to pool funds for collective investments in low-risk money market instruments.

    The AVA GAM Money Market Fund is offering N1 billion at N1 per unit. The launch of the initial offer followed approval by the Securities and Exchange Commission (SEC).

    Managing Director, AVA Global Asset Managers Limited (AVA GAM), Mr. Efe Shaire, said the new fund aligned with AVA GAM’s commitment to drive financial inclusion, support economic growth, and offer Nigerians a reliable avenue for achieving their financial goals.

    He said the new mutual fund would empower Nigerians with secure and accessible investment opportunities.

    “The AVA GAM Money Market Fund is an open-ended fund designed to provide unit holders with a steady stream of income while preserving capital. Ideal for retail investors, high net worth individuals and institutional investors, the fund offers competitive returns, professional management, ease of subscription, and liquidity, making it a credible choice for both new and seasoned investors seeking financial stability.

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    “The AVA GAM Money Market Fund comes at a crucial time when Nigerians are seeking secure ways to safeguard and grow their wealth amid economic uncertainties. By offering a low-risk option with steady returns, AVA GAM aims to build trust and encourage more Nigerians to embrace the benefits of structured investing,” Shaire said.

    Chief Investment Officer, AVA Global Asset Managers Limited (AVA GAM), Mr. Mayowa Ikotun said the company would use its customer-focused approach and a commitment to excellence to empower more Nigerians to take control of their financial futures.

    “Investing is about creating a financially resilient society. The AVA GAM Money Market Fund reflects our dedication to supporting our clients’ financial well-being while contributing to Nigeria’s economic development,” Ikotun said.

    He urged interested investors to download the AVA Mobile App to learn more about the money market fund, explore its features, and begin their investment journey.