Advan La Fayette Microfin Bank Raises N6bn in Debut Issuance

Advan La Fayette Microfin Bank successfully raised N6 billion through its maiden commercial paper issuance as part of a N20 billion commercial paper program aimed at expanding financing for micro, small, and medium enterprises (MSMEs) across Nigeria. The issuance, which occurred on June 18, 2026, was oversubscribed, reflecting strong investor confidence in the bank's operations and growth prospects.

This marks the bank's debut in the Nigerian capital market and is expected to strengthen its funding base, improve liquidity, and diversify its funding sources. During the signing ceremony held at the bank's Lagos office, Elvi Oheneba, the Managing Director and Chief Executive Officer of Advan La Fayette Microfin Bank, stated that the proceeds from the issuance would support lending activities, particularly to MSMEs, which play a critical role in job creation and economic development.

Rukaiyat El Rufai, a non-executive director of the bank, noted that the program would enhance access to finance for small businesses, which continue to face funding challenges despite their contributions to economic growth.