FBNQuest Merchant Bank Limited has reaffirmed its leadership in Nigeria’s
capital markets by serving as Exclusive Arranger and Dealer for Accion
Microfinance Bank Limited’s debut ₦5.0 billion Commercial Paper (CP) Programme,
which successfully launched with a ₦2.0 billion Series 1 issuance.
This milestone
transaction marks Accion’s first-ever entry into Nigeria’s capital markets and
demonstrates the Bank’s growing strength as a credible issuer within the
country’s debt capital landscape.
A Milestone
Transaction with Strategic Impact
The Series 1 issuance,
which opened on 20 August and closes on 29 August 2025, provides Accion with
access to diversified and cost-efficient funding sources, reinforcing its
mission to expand financial inclusion and support micro, small, and medium
enterprises (MSMEs).
Backed by an A- credit
rating from DataPro, the issuance reflects Accion’s strong fundamentals, robust
liquidity, and ability to meet obligations. Importantly, this transaction is
among the first SEC-registered Commercial Paper programmes by a Nigerian financial
institution under the current regulatory framework, underscoring both the
resilience of Nigeria’s capital markets and FBNQuest’s role as a trusted
partner in shaping its evolution.
L-R: Financial Consultant, Accion Microfinance Bank, Promise Nwakor; Consultant, DataPro, Jossy Matthew; Managing Director/CEO, Accion Microfinance Bank, Taiwo Joda; Head, Investment Banking, FBNQuest Merchant Bank Limited, Yetunde Falore; Partner, Aluko & Oyebode, Tunde Oyebode; Company Secretary/Head, Legal, Accion Microfinance Bank, Oluwatosin Olaoko at the signing ceremony of Accion MFB's Series I Commercial Paper held recently in Lagos.
Leadership Commentary
“As we look to the
future, Accion Microfinance Bank remains committed to innovation, ethical
banking, and sustainable impact. This programme is a bold step in our journey
to deepen financial inclusion. With the support of our partners, we are
confident of delivering even greater value to our customers, our investors, and
the communities we serve,” said Taiwo Joda, MD/CEO, Accion MFB.
Commenting on
FBNQuest’s role, Yetunde Falore, Head of Investment Banking at FBNQuest
Merchant Bank, noted:
"We are proud to
have partnered with Accion MFB on their debut into the Nigerian Capital Market.
This landmark transaction reflects the strength of Accion MFB’s fundamentals
and reinforces the confidence investors place in both the issuer and FBNQuest’s
strong execution capabilities. We remain committed to supporting Accion MFB and
institutions like them in accessing efficient and diverse funding solutions to
drive financial inclusion and growth"
Strategic Benefits for
Accion Microfinance Bank
- Diversified funding base attracting a
wider range of investors.
- Cost-effective alternative to bank
loans, improving capital efficiency.
- Stronger liquidity to drive lending
capacity and operational growth.
- Enhanced market visibility and
credibility through SEC-registered issuance.
- Sustained expansion in micro-lending,
accelerating financial inclusion.
Broader Economic
Impact
- Expands access to affordable credit
for MSMEs and underserved communities.
- Supports job creation by fueling
entrepreneurship and small business growth.
- Deepens Nigeria’s debt capital market
through new categories of issuers.
- Reinforces investor confidence and
regulatory trust.
- Channels investments into productive
sectors, contributing to sustainable economic growth.
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