Nigeria’s corporate funding landscape is gaining momentum.
Accion Microfinance Bank Limited listed ₦2.02 billion Series 1 Commercial Paper under its ₦5 billion programme.
Accion Microfinance Strong Funding Boost
On February 25, 2026, FMDQ Securities Exchange Limited’s Board Listings and Markets Committee approved the quotation.
This approval gives Accion access to cost-effective short-term funding, which supports micro-entrepreneurs and small businesses nationwide.
Oversubscribed Issuance
FBNQuest Merchant Bank Limited sponsored the issuance and guided Accion throughout the debut transaction.
Consequently, the proceeds will strengthen working capital and expand the bank’s lending capacity.
“The CP is not just about raising funds; it allows us to grow small business support, deepen financial innovation, and accelerate digital transformation,” said Managing Director of Accion MFB, Mr Taiwo Joda.
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Moreover, the issuance attracted strong demand and became oversubscribed, reflecting investors’ confidence in Accion and the CP market.
Growing CP Market
Meanwhile, a MasterCard and VISA partner, Payaza Africa Limited, is seeking to raise around ₦50 billion through Series 1 and 2 CPs under a ₦150 billion programme.
Since inception, Payaza has raised over ₦70 billion across six CP series, repaying ₦32.53 billion fully.
Analysts note corporates increasingly prefer CPs as a cost-effective alternative to expensive bank loans.
Finally, Head of Investment Banking at FBNQuest, Mrs Yetunde Falore, said, “The oversubscription demonstrates confidence in CPs and helps institutions like Accion MFB scale their impact.”
These developments show how Nigeria’s technology-enabled capital markets actively help corporates mobilise funding while promoting financial inclusion nationwide.
