By Peace Udugba
FMDQ Securities Exchange Limited (FMDQ Exchange) has approved the quotation of ARCO Worldwide Services Limited’s ₦2.81 billion Commercial Paper (CP), providing the technology-driven company with access to short-term funding to strengthen its operations and expand its services across Nigeria.
The quotation comprises a ₦780 million Series 1 Tranche A and a ₦2.03 billion Series 1 Tranche B Commercial Paper issued under ARCO Worldwide’s ₦30 billion Commercial Paper Issuance Programme.
The approval, granted by the Exchange’s Board Listings and Markets Committee, underscores FMDQ Exchange’s commitment to expanding access to Nigeria’s debt capital market by enabling businesses to raise cost-effective short-term financing.
ARCO Worldwide Services Limited, a subsidiary of ARCO Group Plc, specialises in drone-based aerial surveillance, inspection and geospatial intelligence solutions for clients in the oil and gas, security and defence, agriculture, telecommunications and infrastructure sectors.
According to the Exchange, proceeds from the Commercial Paper issuance will be used to support the company’s working capital requirements and enhance its operational capacity as it expands its technology-driven services nationwide.
The transaction was sponsored by United Capital Plc as Lead Sponsor and Lead Capital Plc as Co-Sponsor, both of which are Registration Members (Quotation) of FMDQ Exchange.
Commenting on the successful quotation, Group Chief Operating Officer of FMDQ Group Plc, Tumi Sekoni, said the transaction demonstrated the increasing relevance of Nigeria’s Commercial Paper market to technology-enabled businesses.
She noted that as companies continue to innovate and expand, access to efficient market-based financing has become critical to achieving their long-term growth objectives.
“The participation of technology-enabled service providers such as ARCO Worldwide Services Limited highlights the versatility of Nigeria’s Commercial Paper market and its relevance to businesses across diverse sectors,” she said.
Also speaking, Managing Director of ARCO Worldwide Services Limited, Okosubide Mozimo, described the successful debut Commercial Paper issuance as a major milestone for the company.
He said the strong investor participation reflected confidence in ARCO’s business model, operational discipline and long-term growth strategy.
According to him, the capital raised will provide greater financial flexibility for the deployment of advanced drone technologies while strengthening the company’s leadership position in aerial intelligence and surveillance across Nigeria and other African markets.
Managing Director, Investment Banking at United Capital Plc, Dr. Gbadebo Adenrele, said the strong investor response underscored ARCO Worldwide’s robust fundamentals and strategic relevance in the rapidly growing technology-enabled services sector.
He added that the successful issuance reaffirmed the role of Nigeria’s domestic debt capital market as a reliable funding source for indigenous high-growth companies.
FMDQ Exchange said it remains committed to deepening Nigeria’s short-term debt market by working closely with issuers, sponsors and regulators to broaden participation in the capital market.
The Exchange noted that through efficient quotation processes and strong regulatory oversight, it continues to provide businesses across different sectors with access to market-driven funding while supporting the growth and development of Nigeria’s financial markets.
