CMFC Plans to Transform Nigeria’s Minerals Sector

Kayode Tokede  

Deap Capital Management & Trust (DEAPCAP) Plc has officially changed its corporate name to Critical Minerals Financing Corp (CMFC) Plc, a key step in the company’s shift toward a specialised mining, metals, commodities finance, and investment group.

The name change was completed after all necessary regulatory approvals and filings were obtained. In a filing with the Nigerian Exchange (NGX), the company also announced that its corporate headquarters have been moved to Number One Lagos, 1 Akin Adesola Street, Victoria Island, Lagos.

Chairman of CMFC Plc, Mr Lamon Rutten, said the transition reflects the company’s sharpened focus on capital structuring, investment banking, transaction advisory, project development support, and financing solutions for stakeholders across the minerals and commodities sector.

According to him, the completion of the transition to Critical Minerals Financing Corp Plc marks the beginning of an exciting new phase for the company.

“We are strategically positioned to deliver world‑class capital structuring, advisory, and financing solutions to mining and metals companies operating across gold, copper, cobalt, lithium, tungsten, tin, tantalum, and other critical mineral sectors,” Rutten, a founding Chief Executive Officer of Saudi Mining Exchange and Mumbai Commodity Exchange (MCX), said.

He added that CMFC’s strategy is aimed at addressing the significant financing and transaction‑structuring gap within Africa’s mining industry by combining global financial expertise, sector‑specific knowledge, and strategic partnerships.

President & Co‑CEO of CMFC Plc, Dr Israel Ovirih, said the company is currently strengthening its governance, operational, and financial frameworks in preparation for its next growth phase.

According to him, the company will leverage strategic partnerships, regional expansion, and participation in large‑scale mining and commodities transactions across Africa to unlock value for national economic growth and sustainable returns to stakeholders.