FBNQuest Facilitates Accion Microfinance Milestone ₦5B CP Capital Market, ₦2B Series 1 Issuance
FBNQuest Merchant Bank, a leading full-service merchant bank offering capital markets, advisory, and transaction services to corporates and institutions across Nigeria has reaffirmed its leadership in Nigeria’s capital markets by serving as Exclusive Arranger and Dealer for Accion Microfinance Bank Limited’s debut ₦5.0 billion Commercial Paper (CP) Programme, which successfully launched with a ₦2.0 billion Series 1 issuance.
This milestone transaction marks Accion’s first-ever entry into Nigeria’s capital markets and demonstrates the Bank’s growing strength as a credible issuer within the country’s debt capital landscape.
The deal was announced on Thursday 21st August 2025 and is described as a milestone transaction with strategic Impact when the Series 1 issuance, which opened on 20 August and closes on 29 August 2025, provides Accion with access to diversified and cost-efficient funding sources, reinforcing its mission to expand financial inclusion and support micro, small, and medium enterprises (MSMEs).
This transaction is backed by an A-credit rating from DataPro, reflecting Accion’s strong fundamentals, robust liquidity, and ability to meet its obligations. Importantly, this transaction is among the first SEC-registered Commercial Paper programmes by a Nigerian financial institution under the current regulatory framework, underscoring both the resilience of Nigeria’s capital markets and FBNQuest’s role as a trusted partner in shaping its evolution.
Taiwo Joda, MD/CEO, Accion MFB noted that as we look to the future, Accion Microfinance Bank remains committed to innovation, ethical banking, and sustainable impact. This programme is a bold step in our journey to deepen financial inclusion. With the support of our partners, we are confident of delivering even greater value to our customers, our investors, and the communities we serve,” said.
The Head of Investment Banking at FBNQuest Merchant Bank, Yetunde Falore, highlighted that FBNQuest Merchant Bank is proud to have partnered with Accion MFB on their debut into the Nigerian Capital Market. This landmark transaction reflects the strength of Accion MFB’s fundamentals and reinforces the confidence investors place in both the issuer and FBNQuest’s strong execution capabilities. “We remain committed to supporting Accion MFB and institutions like them in accessing efficient and diverse funding solutions to drive financial inclusion and growth”.
FBNQuest Merchant Bank reiterated the strategic benefits for Accion Microfinance Bank while briefing the press and cited accordingly as: diversified funding base attracting a wider range of investors, cost-effective alternative to bank loans, improving capital efficiency, stronger liquidity to drive lending capacity and operational growth, enhanced market visibility and credibility through SEC-registered issuance, sustained expansion in micro-lending, and accelerating financial inclusion.
It also announced that the broader economic impact is that it expands access to affordable credit for MSMEs and underserved communities, supports job creation by fueling entrepreneurship and small business growth, deepens Nigeria’s debt capital market through new categories of issuers, reinforces investor confidence and regulatory trust, channels investments into productive sectors, and contributes to sustainable economic growth.
About Accion Microfinance Bank
Accion Microfinance Bank is a leading microfinance institution dedicated to advancing financial inclusion in Nigeria. With a customer base of over 520,000 across 80+ branches in 12 states, the Bank leverages digital innovation and strategic partnerships with Ecobank, Stanbic IBTC, GTBank, and IFC to empower micro-entrepreneurs and low-income individuals.
Rated A- by DataPro, Accion is recognised for its financial stability, strong liquidity, and commitment to sustainable growth.
About FBNQuest Merchant Bank
FBNQuest Merchant Bank is a leading full-service merchant bank offering capital markets, advisory, and transaction services to corporates and institutions across Nigeria. Through landmark transactions such as this, FBNQuest continues to shape the future of Nigeria’s capital markets and strengthen investor confidence in the financial system.