Akinsola Akinyemi appointed CFO of Neveah Limited

Neveah Limited, a leading commodity trading company, has appointed Neveah Limited as its new chief financial officer (CFO) and executive director.

In a statement on Tuesday, the company said Akinyemi is an experienced finance professional with over 12 years of hands-on experience in treasury management, regulatory reporting, financial accounting, performance management, tax planning, and management with reputable financial institutions in the Nigerian financial services industry.

The company added that Akinyemi is highly skilled at identifying business growth opportunities and has supported notable companies in achieving business expansion. According to Neveah, the new CFO has an excellent track record of improving systems and processes.

“He holds a Bachelor’s degree in management and accounting from Obafemi Awolowo University. He is an Associate Member of the Institute of Chartered Accountants of Nigeria (ACA), an Authorized Dealer of the Nigerian Exchange, and an Associate Member of the Chartered Institute of Stockbrokers (ACS),” the company said.

“Before joining Neveah, Akinsola held several finance positions, including Group CFO at Cordros Capital Limited, Group Financial Controller at United Capital Plc, Investment One Financial Services Limited and Meristem Securities Limited. He also currently provides professional guidance on audit and risk management issues to one of the leading companies in the ICT sectors in his capacity as the chairman of the statutory audit committee.

“Prior to taking this step, the firm under the leadership of its MD/CEO, Mr Ibidapo Lawal had made impressive financial strides, raising N23,287,446,053.14 in total from the financial market and repaying N14,544,451,053.14. In the past five years, Neveah Limited has recorded a CAGR of 68% and 176% on revenue and profitability respectively.

“Most recently, the firm concluded its series 6-13 Commercial Paper issuances which was well subscribed to by a diverse group of investors including asset managers, insurance companies, PFAs and trustees, and received the approval of FMDQ Securities Exchange Limited. The firm was able to raise N8.9 billion and its very last issuance was 97% subscribed.

“The firm is enthusiastic about Mr Akinsola’s leadership. Judging by his track record, they are confident that he is worthy of taking over from where the CEO left off in ensuring the financial wellness of the company, and constantly leading the company to greater heights.”

Ibidapo Lawal, Neveah’s MD, said the company has grown from a one-man business to a full-blown, properly structured firm that is able to consistently raise money from the financial markets to meet its operational obligations.

“We have set a solid track record of financial responsibility, leading to our several ratings by financial houses such as Agusto and Data Pro. This has required grit, commitment, and a high sense of accountability. It has been a satisfying experience and my utmost pleasure to lead the firm up to this point in its financial journey. However, I believe that Akinsola’s trajectory has prepared him for such a time as this and that he possesses all the qualities we require for the new heights we are set to attain,” Lawal said.

On his part, Akinyemi said: “It is my great pleasure to be joining Neveah Limited as an Executive Director/CFO. I have followed the firm’s journey for a while, and I can say that they have shown undeniable promise. In this time of unprecedented hardship for small and medium enterprises in the country, Neveah has continued to demonstrate unwavering grit and a clear sense of direction. I believe they are here for the long run, and I am as elated about the work of building together as I am about the achievements that I am sure the future holds.”