Accion Microfinance Bank quotes N2.02bn Commercial Paper on FMDQ Exchange

FMDQ Securities Exchange Limited has approved the quotation of Accion Microfinance Bank Limited’s N2.02 billion Series 1 Commercial Paper (CP) under its N5 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.

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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, Taiwo Joda, Managing Director, Accion MfB stated “The N2.02 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, 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.”

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.