Yemisi Izuora
In continued demonstration of its unwavering commitment to strengthening the Nigerian debt capital markets and advancing financial inclusion, FMDQ Securities Exchange Limited has approved the quotation of Accion Microfinance Bank Limited’s ₦2.02 billion Series 1 Commercial Paper under its ₦5.00 billion Commercial Paper Programme.
This approval by the Exchange’s Board Listings and Markets Committee provides Accion Microfinance Bank with cost-effective short-term funding to support micro-entrepreneurs and small businesses across Nigeria.
The approval also reinforces FMDQ Exchange’s role as a trusted platform for corporates seeking efficient, transparent, and credible access to short-term capital market financing.
Accion Microfinance Bank Limited is a leading microfinance institution that provides inclusive financial services to underserved individuals and small businesses across Nigeria, helping to bridge the financial access gap. The net proceeds from this CP issuance, sponsored by FBNQuest Merchant Bank Limited, a Registration Member (Quotations) of FMDQ Exchange, will strengthen the Issuer’s working capital position and expand its lending capacity. This will enable Accion MfB to increase access to credit and further contribute to grassroots economic development.
Commenting on this CP quotation, the Managing Director, Accion MfB, Mr. Taiwo Joda, stated “The ₦2.02 billion CP quotation launched is not just about raising funds; It is about reinforcing our capacity to provide working capital, expand lending to small businesses, deepen financial innovation, and accelerate our digital transformation.”.
Reacting to the CP quotation, the Sponsor on FMDQ Exchange, FBNQuest Merchant Bank Limited, through its Head, Investment Banking, Mrs. Yetunde Falore stated “At FBNQuest Merchant Bank, we are proud to have played a pivotal role in guiding this debut transaction. We successfully facilitated the launch of the Series 1 CP Issuance, which was oversubscribed. This demonstrates both the confidence of investors and the strength of our execution capabilities. This milestone reflects our ongoing commitment to supporting institutions like Accion MfB in accessing efficient and cost-effective funding solutions that enable them to scale their impact.”
FMDQ Exchange remains committed to building a world-class, technology-enabled capital market ecosystem that upholds the highest standards of transparency, regulatory excellence, and market integrity. By providing a robust and efficient platform for institutional and specialised financial institutions, the Exchange continues to facilitate capital mobilisation that fosters financial inclusion, entrepreneurship, and broad-based economic prosperity across Nigeria.