finance & economy

VFD Group Announces ATIAT Leasing, VFB Bridge Merger

August 5, 2022

VFD Group Plc, a sector agnostic proprietary investment company has announced the merger of ATIAT Leasing and VFD Bridge Limited.

The company also announced the appointment of two Executive Directors for the business, in line with its strategic direction of consolidation and focus.

According to a statement, prior to the merger, ATIAT Leasing provided leasing of equipment, vehicles, and financing (lending) to support and improve their customers’ productivity needs, while VFD Bridge was formed to provide corporate financing to businesses, acting as a bridge between where they are and where they want to be.

Following the announcement of the merger, both companies would be known as ATIAT Leasing Limited.

ATIAT Leasing Limited appointed two Executive Directors in conjunction with the merger and to improve its customer acquisition drive and sustenance.

Obiageli Ejiofor was named Executive Director, Business Development, while Olisa Ifeajuna was named Executive Director, Operations.

Both executives have a diverse background in banking operations, retail, business, and business development.

Managing Director/CEO of ATIAT Leasing Limited, Kanayo Eni-Ikeh, while commenting on the merger, said: “With the merging of both businesses, we offer our clients more product and service options that ensure their productivity is top notch.” We unlock several opportunities for ATIAT to achieve and exceed its value with their combined wealth of product, services, customer knowledge, and new individuals to drive these aspects.”

‘With this merger, the entire VFD Bridge team has been absorbed into ATIAT Leasing Limited and would focus on all things lending, leasing, and financing for both retail and corporate customers,’ he said.

In his comment on the merger, the Group Managing Director/CEO of VFD Group Plc, Nonso Okpala said: “When we invested in Atiat Leasing more than two years ago, the business was solely focused on providing leasing solutions to corporate clients. However, since Kanayo took office, ATIAT has not only introduced new product offerings and increased capacity to manage its growing customer base, but it has also met and exceeded its revenue targets. I am confident that ATIAT Leasing Limited will benefit the Group and the ecosystem as a result of the merger and new management.”

“It is worth noting that the expansion of ATIAT will be felt not only directly in Lagos, but also in Abuja, as the business has successfully taken and spread the ATIAT mandate for the past six months.”

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