FMDQ Approves Accion Microfinance Bank's N2.02bn CP

FMDQ has officially admitted Accion Microfinance Bank’s N2.02 billion Series 1 Commercial Paper as part of its N5 billion commercial paper program. This move, announced on February 25, 2026, is designed to provide cost-effective short-term funding to support micro-entrepreneurs and small businesses across Nigeria.

The issuance, which opened on February 23 and is expected to close on February 26, is part of a larger N50 billion issuance program by Payaza Africa, which aims to raise funds for operational expansion. Accion Microfinance Bank's commercial paper issuance is anticipated to enhance its working capital and expand its lending capacity.

The trend of corporates turning to the commercial paper market is linked to the high cost of commercial bank credit observed last year. FMDQ's facilitation of this capital mobilization reflects the growing appetite for commercial paper in Nigeria's technology-enabled capital market ecosystem.