The Admiralty Exchange Limited (AEL) was established on 27 August, 2018 as a subsidiary of Navy Holdings Limited (NHL). The Company was to amongst other things exploit businesses that would enhance the welfare of Nigerian Navy personnel through provision of discounted retail sales. Notably, AEL commenced business operations as a full-fledged business outfit in January 2022 focusing on cement, food commodities, garment, fertilizer and Liquefied Petroleum Gas (LPG) with the prospect of diversifying into other profitable business areas.
AEL corporate mandate is to carry out businesses of supermarkets, garments, warehouses, manufacturing and imports/exports of commodities among others. In pursuant of its mandate, the Company took over the management of Nigerian Navy Garment Factory (NNGF) located at Sapele. Furthermore, AEL commmenced the sales of rice, cement, fertilizers, bread amongst others to personnel and civilians at the Admiralty Mart in Navy Town, Ojo and Abuja with the aim of attracting turnover that could generate revenues to facilitate expansion and overall growth of the Company.