L-R: Kayode Adeleke ,CEO, RusselSmith Nigeria Limited; Busola Ogbonna , MD, Cedrus Capital Limited; Joshua Inoma, branch head, Providus Bank Plc.; Olubusayo Adeniyi, CEO, Cedrus Group Africa, during the recent RusselSmith commercial paper signing at Cedrus Office in Lagos.
Kayode Adeleke, the chief executive officer (CEO) of RusselSmith Nigeria Limited, has said that the recent collaboration between Cedrus Capital and RusselSmith exemplifies the benefits of strategic partnerships in driving innovation and sustainability within Nigeria’s energy sector.
He made this known following the issuance of ₦3 billion Series 1 Commercial Paper (CP) that was arranged by Cedrus Capital for RusselSmith Nigeria Limited, as part of its ₦10 billion CP Programme.
Adeleke disclosed that Cedrus Capital’s involvement has been instrumental in ensuring the CP notes were listed on the FMDQ Securities Exchange, enhancing transparency and liquidity for investors.
“The approval of our commercial paper programme by the FMDQ represents an exciting achievement for RusselSmith. We are grateful for the FMDQ’s confidence in our organisation and look forward to harnessing this opportunity to enhance our operations and contribute to the growth of the Nigerian capital market,” Adeleke stated.
He stated that the achievement is a testament to Cedrus Capital’s expertise in delivering innovative financing solutions and fostering investor confidence, which showcases its ability to connect businesses with the capital needed for growth and sustainability.
“Our commitment to innovation, particularly through our 3D additive manufacturing capacity, positions us to drive sustainability and efficiency in the energy sector, creating lasting value for all stakeholders,” Adeleke stated.
Olubusayo Adeniyi, CEO, Cedrus Capital, stated that the oversubscription reflects the firm’s strong market knowledge and investor relationships.
According to him, strategic partnerships capable of enabling companies to leverage cutting-edge technologies and sustainable practices for long-term growth, are essential in driving innovation and sustainability within the energy sector,
“This clearly shows the market’s trust in RusselSmith’s strategic vision and operational capacity. We are proud of this milestone as it not only secures the short-term working capital needs for RusselSmith but also sets the stage for further engagements within the broader ₦10 billion programme,” Adeniyi stated.