VFD Group Divests Interest in Atiat Limited for N7 billion
VFD Group Plc has announced a full divestment of its interest in Atiat Limited in a deal valued at over N7 billion following a board approval. In a statement, the diversified investment company told the Nigerian Exchange that the Board approved the company’s full divestment of 343,546,646 ordinary shares of its holdings in Atiat Limited, a key subsidiary.
“This transaction marks 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,” the statement reads.
The decision to divest aligns with VFD Group’s strategic framework, which emphasizes optimizing its portfolio by directing resources toward high-growth opportunities.
Speaking on the divestment, Nonso Okpala, Group Managing Director of VFD Group, stated: “This transaction is a testament to the quality of our investment decisions and our ability to unlock value for our investors.
“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.”
Over the years, Atiat has evolved into a formidable player in Nigeria’s financial services sector. 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.
The divestment is 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.
Over the last four years, Atiat Limited has recorded exponential growth in revenue, profitability, and shareholder value, with year-on-year cumulated average growth in Gross Earnings rising from ₦2 billion in 2021 to ₦9.7 billion in 2024.
Its profit before tax (PBT) grew from a loss of ₦30.4 million in 2021 to ₦1.4 billion in 2024. Shareholders’ funds have also surged from ₦327 million in 2021 to ₦8.2 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.
The company continues to deepen its presence in leasing, consumer lending, and bridge financing, with plans to make strategic investments in banking and insurance.
With a robust leadership team, an exceptional workforce, and a proven track record of performance, Atiat is entering its next phase of expansion with confidence and momentum.
“This is not just a transition; it is an opportunity to accelerate our growth and drive even greater value for our investors, customers, and partners,” said Kanayo Eni-Ikeh, Managing Director/CEO of Atiat Limited.
“We are grateful for VFD Group’s contributions over the years, and we look forward to building on this strong foundation as we expand our offerings, strengthen our market position, and pursue new frontiers of success.”
Both VFD Group and Atiat remain committed to creating lasting value for their stakeholders. VFD Group’s investment philosophy is centered on building a resilient portfolio driven by innovation, risk management, and sustainable returns.
The proceeds from this divestment will enhance VFD Group’s liquidity position and support strategic initiatives in emerging sectors with high-growth potential. Atiat Limited, on the other hand, is well-positioned to sustain its upward trajectory, with profitability expected to continue its impressive growth over the coming years.
Its customer-first approach, deep market insights, and commitment to service excellence will remain at the heart of its operations as it moves into this exciting new phase. As a company at the forefront of Africa’s investment ecosystem, VFD Group continues to lead with innovation and foresight.
This divestment reinforces its ability to identify the right opportunities, execute strategic exits, and ensure value creation for investors. Atiat, now fully independent, is poised to leverage its strong market positioning, financial strength, and growth-focused strategy to further cement its place as a leader in Nigeria’s financial services sector.
This is a new beginning for both companies—one that promises sustained growth, enhanced market impact, and greater value for all stakeholders. VFD Group Divests Interest in Atiat Limited for N7 billion #Chinese Firm Expresses Support for $20b Ogidigben Gas Project
