By Peace Udugba
FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) has approved the quotation of Miskay Boutique International Limited’s ₦0.28 billion Series 1 Tranche A, ₦0.82 billion Series 1 Tranche B, and ₦1.02 billion Series 1 Tranche C Commercial Papers (CPs) under its ₦5.00 billion Commercial Paper Issuance Programme.
The approval by the Exchange’s Board Listings and Markets Committee underscores FMDQ Exchange’s role as a credible and transparent platform for short-term capital market financing, providing corporates with efficient access to liquidity solutions.
Miskay Boutique International Limited (“Miskay” or the “Issuer”) is a growing retail and fashion enterprise operating within Nigeria’s consumer goods sector. The company sources, distributes, and retails fashion merchandise, lifestyle products, and accessories to a broad customer base nationwide.
Proceeds from the CP issuance—sponsored by AIICO Capital Limited (Lead Sponsor), Apel Asset Limited, and Coremars Capital Limited, all Registration Members (Quotation) of FMDQ Exchange—will be used to optimise the Issuer’s working capital, bridge operational funding gaps, and strengthen its liquidity position in support of near-term business objectives and growth plans.
Reacting to the development, the Co-Founder of Miskay Boutique International Limited, Mr. Seun Akerele, said:
“The successful redemption of our Series 1 Commercial Paper reflects the strength of the Miskay platform, the quality of execution across the business, and our unwavering commitment to meeting investor obligations.
The business is now materially stronger, more structured, and better positioned for scale than it was prior to the capital raise. We have strengthened inventory capacity, improved operational alignment, expanded customer engagement, and resumed strategic expansion initiatives.
As we move through Q2, Q3, and into the critical Q4 trading cycle, our focus remains firmly on disciplined execution, accelerated growth, margin expansion, and continued market leadership within the fast fashion segment.”
In the same vein, the Managing Director of AIICO Capital Limited, Mr. Femi Ademola, stated:
“AIICO Capital Limited, acting as Lead Issuing House, is pleased to have advised Miskay Boutique International Limited on the successful quotation of its ₦2.12 billion Series 1 Tranches A, B, and C Commercial Papers under its ₦5.00 billion Commercial Paper Programme on FMDQ Securities Exchange Limited.
The successful issuance reflects strong investor confidence in Miskay’s business and growth prospects, while highlighting the Nigerian debt capital market as an effective source of corporate funding.
Miskay promptly fulfilled its repayment obligation on the Series 1, Tranche A Commercial Paper and duly notified FMDQ Exchange in line with market best practices. This timely repayment demonstrates the Company’s creditworthiness and commitment to maintaining investor confidence.”
Commenting on the quotation, Ms. Tumi Sekoni, Group Chief Operating Officer, FMDQ Group PLC, said:
“The quotation of the CPs on FMDQ Exchange reflects the continued broadening of Nigeria’s capital markets and the critical role that short-term fixed income instruments play in providing efficient liquidity solutions for businesses across the economy.
By facilitating access to the CP market for a growing enterprise such as Miskay Boutique International Limited, FMDQ Exchange reaffirms its commitment to making capital market financing accessible to corporate issuers at every stage of growth.
This transaction further underscores our resolve to provide a transparent, well-regulated, and inclusive marketplace that connects credible issuers with investors while driving sustainable economic development across Nigeria.”
FMDQ Exchange reaffirmed its commitment to providing a robust, transparent, and efficient marketplace that supports capital raising and sustainable economic development.
The Exchange noted that its platform continues to connect issuers with a diverse pool of investors, enhancing liquidity and strengthening the resilience of Nigeria’s financial markets.
FMDQ Group PLC (“FMDQ Group”) is Africa’s first vertically integrated financial market infrastructure (FMI) group, providing registration, listing, quotation, and noting services for financial market securities; integrated trading, clearing and central counterparty, and settlement services;
depository services; and data and information services across the debt capital, derivatives, and equity markets through its subsidiaries, including FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited, and FMDQ Private Markets Limited.
As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange—FMDQ Green Exchange—positioned to support the transition toward a sustainable financial future.
