By Peace Udugba
FMDQ Securities Exchange Limited has approved the listing of LAPO MFB SPV PLC’s ₦4.46 billion Series 1 Five-Year 20.00 per cent Fixed Rate Bond under its ₦30 billion Bond Issuance Programme, providing long-term capital to support the expansion of Nigeria’s microfinance sector.
The approval, granted by the Exchange’s Board Listings and Markets Committee, is expected to strengthen LAPO Microfinance Bank’s growth plans while reinforcing the role of Nigeria’s debt capital market in mobilising long-term funding for sustainable economic development.
LAPO MFB SPV PLC, a special purpose vehicle established to raise capital on behalf of LAPO Microfinance Bank Limited, will deploy proceeds from the bond to expand financing for small and medium-sized enterprises (SMEs), improve access to renewable energy solutions and strengthen digital financial services for micro, small and medium-sized enterprises (MSMEs) across Nigeria.
The bond issuance was sponsored by FirstCap Limited as Lead Sponsor and AVA Capital Partners Limited as Co-Sponsor, both Registration Members (Listings) of FMDQ Exchange.
Commenting on the listing, Senior Vice President of FMDQ Exchange, Oluwaseun Afolabi, said the transaction demonstrates the growing depth and sophistication of Nigeria’s debt capital market.
“The listing of LAPO MFB SPV PLC’s Series 1 Bond reflects the growing sophistication of Nigeria’s debt capital markets and their capacity to support long-term funding needs across the financial inclusion space. Through listings such as this, FMDQ Exchange continues to foster a market that channels capital towards enterprises and initiatives capable of delivering broad-based economic impact,” Afolabi said.
FMDQ Exchange stated that it remains committed to increasing the flow of long-term capital into Nigeria’s financial inclusion ecosystem, recognising the critical role microfinance institutions play in providing credit and financial services to underserved individuals and small businesses.
According to the Exchange, facilitating access to the bond market for institutions such as LAPO Microfinance Bank aligns with the country’s broader objective of expanding financial inclusion, supporting entrepreneurship and promoting sustainable economic growth.
FMDQ Group PLC, Africa’s first vertically integrated financial market infrastructure (FMI) group, provides integrated services across Nigeria’s debt capital, foreign exchange, derivatives and equity markets through its subsidiaries, including FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.
