Bamidele Famoofo
VFD Group, a leading proprietary investment company, has announced the divestment of its 57.26 percent stake in Atiat Limited, a key subsidiary, in a deal valued at over N7 billion.
The board of VFD Group Plc, approved the Company’s full divestment of 343,546,646 ordinary shares of its holdings in Atiat Limited.
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 decision to divest aligns with VFD Group’s strategic framework, which emphasizes optimizing its portfolio by directing resources toward high-growth opportunities. The ₦7 billion transaction reflects the strong value created under VFD Group’s stewardship and its ability to execute disciplined investment decisions that maximize shareholder returns.
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. Atiat’s Strength and Forward Momentum Atiat Limited remains a strong, financially sound, and forward-focused institution.
Over the last four years, the company 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, Profit before tax (PBT) growing from a loss of ₦30.4 million in 2021 to ₦1.4 billion in 2024 (unaudited). 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.” Commitment to Stakeholders 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. Positioning for the Future 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 growthfocused 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.
