A major cocoa processor in Nigeria, Johnvents Industries Limited, said the successful repayment of the N9.2 billion Series 7 & 8 Commercial Paper issued to support its growth and liquidity has solidified its reputation as a reliable and trusted issuer in the debt capital market.
It said it has continued to demonstrate financial resilience and robust performance in the Nigeria’s agribusiness sector.
The company said it has redeemed a total of N24.5bn since it launched its commercial paper programme in 2022 to demonstrate its strong financial performance and sound business practices.
Speaking to journalists in Akure, Group Managing Director of Johnvents Group, Mr. John Alamu, the parent company of Johnvents Industries, said the redemption of the Series 7 & 8 Commercial Paper, underscored the firm’s commitment to meeting financial obligations promptly.
Alamu said company’s successes in the commercial paper market, was a testament to its financial discipline and growing influence in Nigeria’s agricultural value chain. According to him, “We are delighted to announce the timely repayment of our Series 7 and 8 Commercial Paper.
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“This success reflects Johnvents’ unwavering commitment to financial prudence and reinforces the confidence placed in our organisation by the investing public.
“We are immensely grateful to our stakeholders for their continued trust and support. Johnvents remains steadfast in delivering sustainable value, maintaining the highest standards of corporate governance, and contributing to the growth of Nigeria’s agribusiness landscape.
“Johnvents Industries is currently positioned at the forefront of Nigeria’s agricultural sector, focusing on creating long-term value through sustainable practices, local community development, and innovative solutions. “With ongoing investments in technology and infrastructure, the company is committed to expanding its reach in the global agricultural industry while adhering to its mission of creating sustainable value across the ecosystem.”