Lagos, Nigeria – Regulators at the FMDQ Securities Exchange Limited (FMDQ) have authorized a new debt issuance to help local lenders provide more credit to small businesses. The exchange board approved the listing of 2.02 billion Naira ($1.50 million USD) in short-term debt for Accion Microfinance Bank Limited.
Okay News reports that the approval was finalized on Wednesday, February 25, 2026, at 10:00 AM WAT. This financial arrangement allows the bank to secure funding at a lower cost than traditional commercial bank loans.
Accion Microfinance Bank will use the new capital to increase lending to micro-entrepreneurs and small business owners across the country. Taiwo Joda, the bank’s managing director, said the funds would support their digital transformation and help them reach more underserved customers.
The debt issuance was managed by FBNQuest Merchant Bank Limited, which reported that investors applied for more units than were originally available. This oversubscription indicates that professional investors have high confidence in the bank’s ability to manage its finances and repay the debt.
At the same time, a financial technology company called Payaza Africa Limited is working to raise 50 billion Naira ($37.03 million USD) through the same exchange. Payaza Africa Limited serves as a partner to global payment networks Mastercard and Visa to provide digital payment services.
The company has already raised and repaid significant amounts of debt since it began operations to fund its daily business requirements. These short-term debt instruments, known as commercial papers, are becoming a popular alternative for companies facing high interest rates from standard banks.
