Quest Merchant Bank Appointed Advisor for Digital Initiative

Quest Merchant Bank has been appointed as the transaction advisor for the Digital Infrastructure Initiative, which is part of the Federal Government's initiative to bridge broadband infrastructure and develop the digital economy in Nigeria. The project, known as FMCIDE, aims to deploy approximately 90,000 kilometers of open access fiber optic cable to strengthen nationwide connectivity and enable inclusive digital economic growth.

Quest Merchant Bank will support the project implementation unit in structuring the project’s financial and commercial framework, including developing bankable investment structures and facilitating public-private partnerships. Afolabi Olorod, Managing Director and CEO of Quest Merchant Bank, emphasized the significance of this appointment in strengthening Nigeria's digital backbone and unlocking opportunities within the digital economy.

The project will also involve collaboration with the Nigerian government and international financial institutions such as the World Bank and the African Development Bank to ensure successful execution and long-term sustainability.