Accion Microfinance Bank Limited has raised N5 billion through its Series 2 Commercial Paper issuance, securing full subscription from investors as the lender moves to expand its lending capacity to micro, small and medium-sized enterprises.
The 364-day commercial paper, which opened on July 27 and closed on August 4, 2026, was issued at a discount rate of 19.03 percent, translating to an implied yield of 23.50 percent.
Quest Merchant Bank acted as the sole issuing house for the transaction.
Accion MFB said the proceeds would provide additional funding for its lending activities, particularly credit to MSMEs, while supporting working capital and investment in technology-enabled financial services.
The successful issuance follows the bank’s maiden commercial paper programme, which was oversubscribed, indicating continued investor appetite for its debt instruments.
“The full subscription of our N5 billion Series 2 Commercial Paper issuance is a significant milestone and a strong endorsement of investor confidence in Accion Microfinance Bank, our strategy and our growth prospects,” Taiwo Joda, managing director and chief executive officer of Accion MFB, said.
He said the funds would enable the bank to deepen support for MSMEs, expand access to credit and invest in technology as it seeks to build a more scalable institution.
For Quest Merchant Bank, the transaction highlights the continued role of Nigeria’s debt capital market in providing alternative funding for financial institutions.
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“We are pleased to have acted as the sole issuing house and successfully raised N5 billion for Accion MFB,”…
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