Yemisi Izuora
Reinforcing its commitment to deepening access to long-term capital for Nigeria’s microfinance sector, FMDQ Securities Exchange Limited, has approved the listing of LAPO MFB SPV PLC’s ₦4.46 billion Series 1 5-Year 20.00 per share Fixed Rate Bond under its ₦30.00 billion Bond Issuance Programme.
This approval, granted by the Exchange’s Board Listings and Markets Committee, provides a platform for mobilising long-term capital to support the growth objectives of LAPO Microfinance Bank and reflects the continued relevance of the Nigerian debt capital market in connecting issuers with funding for sustainable expansion.
LAPO MFB SPV Plc, is a special purpose vehicle established to facilitate capital raising on behalf of its sponsor, LAPO Microfinance Bank Limited, one of Nigeria’s leading microfinance institutions.
Proceeds from this Bond issuance, sponsored by FirstCap Limited (Lead Sponsor) and AVA Capital Partners Limited (Co-Sponsor), both Registration Members (Listings) of FMDQ Exchange, will be used to expand financing opportunities for small and medium-sized enterprises, improve access to renewable energy solutions and strengthen the delivery of digital financial services to micro, small and medium-sized enterprises across Nigeria.
Commenting on the Bond listing, Mr. Oluwaseun Afolabi, Senior Vice President, FMDQ Exchange, said, “The listing of LAPO MFB SPV PLC’s Series 1 Bond reflects the growing sophistication of Nigeria’s debt capital markets and their capacity to support long-term funding needs across the financial inclusion space. Through listings such as this, FMDQ Exchange continues to foster a market that channels capital towards enterprises and initiatives capable of delivering broad-based economic impact.”
FMDQ Exchange remains dedicated to strengthening the flow of long-term capital available to Nigeria’s financial inclusion ecosystem, recognising the pivotal role that microfinance institutions play in extending credit and financial services to individuals and small businesses often excluded from mainstream banking. By facilitating access to the bond market for issuers such as LAPO MFB, the Exchange supports the broader national agenda of expanding financial access, empowering micro and small enterprises, and fostering inclusive, sustainable economic development.