FBNQuest Merchant Bank Limited has reaffirmed its leadership in Nigeria’s capital markets by serving as Exclusive Arranger and Dealer for Accion Microfinance Bank Limited’s debut ₦5.0 billion Commercial Paper (CP) Programme, which successfully launched with a ₦2.0 billion Series 1 issuance.
This milestone transaction marks Accion’s first-ever entry into Nigeria’s capital markets and demonstrates the Bank’s growing strength as a credible issuer within the country’s debt capital landscape.
A Milestone Transaction with Strategic Impact
The Series 1 issuance, which opened on 20 August and closes on 29 August 2025, provides Accion with access to diversified and cost-efficient funding sources, reinforcing its mission to expand financial inclusion and support micro, small, and medium enterprises (MSMEs).
Backed by an A- credit rating from DataPro, the issuance reflects Accion’s strong fundamentals, robust liquidity, and ability to meet obligations.
Importantly, this transaction is among the first SEC-registered Commercial Paper programmes by a Nigerian financial institution under the current regulatory framework, underscoring both the resilience of Nigeria’s capital markets and FBNQuest’s role as a trusted partner in shaping its evolution.
Leadership Commentary
“As we look to the future, Accion Microfinance Bank remains committed to innovation, ethical banking, and sustainable impact. This programme is a bold step in our journey to deepen financial inclusion. With the support of our partners, we are confident of delivering even greater value to our customers, our investors, and the communities we serve,” said Taiwo Joda, MD/CEO, Accion MFB.
Commenting on FBNQuest’s role, Yetunde Falore, Head of Investment Banking at FBNQuest Merchant Bank, noted:
“We are proud to have partnered with Accion MFB on their debut into the Nigerian Capital Market. This landmark transaction reflects the strength of Accion MFB’s fundamentals and reinforces the confidence investors place in both the issuer and FBNQuest’s strong execution capabilities. We remain committed to supporting Accion MFB and institutions like them in accessing efficient and diverse funding solutions to drive financial inclusion and growth”
Strategic Benefits for Accion Microfinance Bank
- Diversified funding base attracting a wider range of investors.
- Cost-effective alternative to bank loans, improving capital efficiency.
- Stronger liquidity to drive lending capacity and operational growth.
- Enhanced market visibility and credibility through SEC-registered issuance.
- Sustained expansion in micro-lending, accelerating financial inclusion.
Broader Economic Impact
- Expands access to affordable credit for MSMEs and underserved communities.
- Supports job creation by fueling entrepreneurship and small business growth.
- Deepens Nigeria’s debt capital market through new categories of issuers.
- Reinforces investor confidence and regulatory trust.
- Channels investments into productive sectors, contributing to sustainable economic growth.
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