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Accion MFB Raises N5bn via Commercial Paper to Scale MSME Lending

Accion Microfinance Bank Limited has successfully raised N5 billion through its Series 2 Commercial Paper issuance. The 364-day instrument, fully subscribed by investors, carries a discount rate of 19.03 percent and an implied yield of 23.50 percent. Quest Merchant Bank served as the sole issuing house for the transaction. The bank intends to deploy the proceeds to expand lending capacity for micro, small, and medium-sized enterprises (MSMEs), support working capital, and accelerate investments in technology-enabled financial services.

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