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By Chinwendu Obienyi
Dynamic investment banking and capital markets advisory firm, FirstCap Limited has structured and executed a N25 billion commercial paper (CP) programme for Lekki Gardens Estate Limited, marking a significant funding milestone for one of Nigeria’s largest residential real-estate developers.
The company, a part of First HoldCo Plc, will serve as Joint Issuing House and Placing Agent on the programme, which is expected to provide Lekki Gardens with a steady pipeline of short-term financing to support operations and accelerate project delivery.
According to a statement from the firm, the transaction reinforces FirstCap’s growing influence in Nigeria’s debt-capital-markets space, where it continues to push issuer diversification, deepen liquidity, and broaden the range of investable fixed-income instruments available to institutional investors.
Future CP issuances under the programme will fund Lekki Gardens’ working-capital needs and general corporate purposes, enabling the developer to scale its real-estate portfolio and execute ongoing projects more efficiently.
Commenting on the development, the Managing Director of FirstCap, Ukandu Ukandu, this transaction exemplifies FirstCap’s commitment to designing capital solutions that drive long-term value.
“Our work with Lekki Gardens highlights our ability to mobilise institutional capital, navigate regulatory complexity, and structure financing that fuels Nigeria’s economic progress. As infrastructure demands rise, we remain focused on bridging the funding gap with innovative, investor-friendly instruments”, Ukandu said.
With more than two decades of transaction experience across multiple sectors, the firm specialises in mergers and acquisitions, capital raising, and strategic financial advisory.
