VFD Group Plc has announced the appointment of Mr. Azeez Adetayo as the Acting Chief Financial Officer of the Group.

This was disclosed in a statement dated June 17, 2026, and signed by the Company Secretary, Gbeminiyi Shoda.

The company said Adetayo’s appointment takes immediate effect and is intended to ensure continuity in the Group’s financial leadership following the transition of its substantive Chief Financial Officer, Raphael Olope.

What they are saying

According to the statement, the appointment was made to support the effective management of VFD Group’s finance function. The company also said the notification was made in compliance with the disclosure requirements of Nigerian Exchange Limited.

Other News

  • “This is to notify Nigerian Exchange Limited (“NGX”), shareholders, and the investing public that Mr. Azeez Adetayo, ACA, has been appointed as the Acting Chief Financial Officer of VFD Group Plc (“VFD Group” or “the Company”) effective immediately.”
  • “The appointment follows the transition of the Company’s substantive Chief Financial Officer and is intended to ensure continuity in financial leadership and the effective management of the Group’s finance function.”

VFD Group said it is confident that Adetayo’s experience and leadership will further strengthen the company’s finance function and support the execution of its strategic objectives.

More insights

Mr. Adetayo previously served as Financial Controller, also referred to as Senior Finance Manager, at VFD Group. He brings more than a decade of experience across financial management, corporate reporting, investment management, treasury management, sustainability reporting, internal controls, and strategic finance.

  • He has led finance transformation initiatives across multiple sectors and has also helped strengthen financial control frameworks.
  • His experience includes supporting business growth through finance leadership.
  • His career foundation includes diverse corporate experience and time at Deloitte Nigeria.

The company said his background gives him extensive expertise in financial strategy, capital management, enterprise risk management, regulatory compliance, and stakeholder reporting.

Adetayo’s appointment is expected to provide leadership stability within VFD Group’s finance function. The move comes at a time when the company is working to sustain the execution of its strategic objectives and maintain confidence among shareholders and the investing public.

What you should know

In its financial results for the first quarter ended March 31, 2026, VFD Group reported a pre-tax profit of N5.1 billion. This represents an increase from the N4.1 billion recorded in the corresponding period of 2025.

  • The performance was largely driven by stronger top-line income.
  • Investment and related earnings rose to N23.9 billion, representing a 27.18% increase from N18.8 billion in Q1 2025.
  • Investment income contributed N4.7 billion, followed by placements at N4.5 billion.

Logistics and haulage contributed N4.1 billion, while interest from loans and advances contributed N3.3 billion.

The Group also recorded a sharp increase in other income, which rose to N2.7 billion, up 529.3% year-on-year, supported by exchange gains and fair value gains on investment properties.