By Chioma Obinagwam
FMDQ Securities Exchange Limited has approved the listing of a N4.46 billion bond issued by LAPO MFB SPV PLC, Confiance News has confirmed, in a move set to unlock fresh long-term capital for Nigeria’s microfinance sector.
The bond, a Series 1 five-year instrument carrying a 20.00 percent fixed rate, was listed under LAPO MFB SPV PLC’s N30.00 billion Bond Issuance Programme following approval by the Exchange’s Board Listings and Markets Committee, according to details obtained by Confiance News.
LAPO MFB SPV PLC is a special purpose vehicle set up to raise capital on behalf of its sponsor, LAPO Microfinance Bank Limited, one of the country’s leading microfinance institutions. Confiance News learned that the bond was sponsored by FirstCap Limited as Lead Sponsor and AVA Capital Partners Limited as Co-Sponsor, both registered as Registration Members (Listings) of FMDQ Exchange.
Proceeds from the issuance will be channelled into expanding financing options for small and medium-sized enterprises, improving access to renewable energy solutions, and strengthening digital financial services for micro, small and medium-sized enterprises across the country, sources close to the transaction disclosed.
Speaking on the listing, Senior Vice President at FMDQ Exchange, Mr. Oluwaseun Afolabi, said the development underscored the growing depth of Nigeria’s debt capital markets and their ability to meet long-term funding needs within the financial inclusion space.
”The listing of LAPO MFB SPV PLC’s Series 1 Bond reflects the growing sophistication of Nigeria’s debt capital markets and their capacity to support long-term funding needs across the financial inclusion space,” Afolabi was quoted as saying. “Through listings such as this, FMDQ Exchange continues to foster a market that channels capital towards enterprises and initiatives capable of delivering broad based economic impact.”
Confiance News gathered that the listing forms part of FMDQ Exchange’s broader push to strengthen long-term capital flows into Nigeria’s financial inclusion ecosystem, given the role microfinance institutions play in extending credit to individuals and small businesses often excluded from mainstream banking.
By facilitating bond market access for issuers such as LAPO MFB, the Exchange said it was supporting the national agenda of expanding financial access, empowering micro and small enterprises, and driving inclusive, sustainable economic development.
FMDQ Group PLC, the parent entity, is described as Africa’s first vertically integrated Financial Market Infrastructure group, offering registration, listing, quotation and noting services, integrated trading platforms, clearing and central counterparty functions, settlement services, securities depository services, and market data services across the debt capital, foreign exchange, derivatives and equity markets. Its subsidiaries include FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.
The Group also operates FMDQ Green Exchange, positioned as Africa’s premier platform for sustainability-linked financial instruments, as it continues to drive the continent’s transition toward a greener financial future, findings show.
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