Kasim Sumaina in Abuja
A leading commodity trading company, Neveah Limited, has announced the appointment of Mr. Akinsola Akinyemi as the company’s chief financial officer (CFO)
Making the announcement yesterday, the company hinted that 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.
A statement released by the Managing Director/CEO of the company, Mr. Ibidapo Lawal, said that Akinyemi is highly skilled at identifying business growth opportunities and has supported notable companies in achieving business expansion. He has an excellent track record of improving systems and processes.
Akinyemi 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 Authorised Dealer of the Nigerian Exchange, and an Associate Member of the Chartered Institute of Stockbrokers (ACS).
Before joining Neveah, Akinyemi 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 per cent and 176 per cent 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.
Lawal said: “Neveah has grown from a one-man business to a full blown, properly structured company which is able to consistently raise money from the financial markets to meet its operational obligations and has 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.”
Akinyemi in his acceptance speech expressed great pleasure to join the company as an Executive Director/CFO.
He revealed that he has followed the firm’s journey for a while, adding that the firm has shown undeniable promise.
Akinyemi said: “In this time of unprecedented hardship for small and medium enterprises in the country, Neveah has continued to demonstrate an 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.”
