By Peace Udugba -The daily torch media
FMDQ Securities Exchange Limited has approved the quotation of ₦2.02 billion Series 1 Commercial Paper (CP) issued by Accion Microfinance Bank Limited under its ₦5.00 billion Commercial Paper Programme, in a move aimed at strengthening Nigeria’s debt capital market and advancing financial inclusion.
The approval, granted 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 the country. It also reinforces FMDQ Exchange’s role as a credible and transparent platform for corporates seeking efficient access to capital market financing.
Accion Microfinance Bank, a leading microfinance institution serving underserved individuals and small businesses nationwide, said the net proceeds from the issuance will be used to strengthen its working capital and expand its lending capacity. The transaction was sponsored by FBNQuest Merchant Bank Limited, a Registration Member (Quotations) of FMDQ Exchange.
Speaking on the development, the Managing Director of Accion Microfinance Bank, Mr. Taiwo Joda, described the CP quotation as more than just a fundraising initiative.
“The ₦2.02 billion CP quotation 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,” he said.
Also commenting on the transaction, the Head of Investment Banking at FBNQuest Merchant Bank, Mrs. Yetunde Falore, noted that the Series 1 CP issuance was oversubscribed, reflecting strong investor confidence.
“At FBNQuest Merchant Bank, we are proud to have played a pivotal role in guiding this debut transaction. The successful and oversubscribed launch demonstrates the confidence of investors and the strength of our execution capabilities. This milestone underscores our commitment to supporting institutions like Accion Microfinance Bank in accessing efficient and cost-effective funding solutions that enable them to scale their impact,” she said.
FMDQ Exchange reiterated its commitment to building a world-class, technology-driven capital market ecosystem anchored on transparency, regulatory excellence, and market integrity. Through its parent company, FMDQ Group PLC, the Exchange continues to provide integrated trading, clearing, settlement, depository, and data services across Nigeria’s debt, derivatives, and equity markets, while promoting sustainable finance initiatives such as the FMDQ Green Exchange.
