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MyCredit Investments Limited, owner of FairMoney Microfinance Bank, has redeemed its N5.86 billion Series 6 Commercial Paper issued under its N10 billion Commercial Paper Issuance Programme.
The company repaid a total of N5,860,319,000 to investors, marking the full redemption of the commercial paper and meeting its obligations under the issuance.
The development highlights FairMoney’s continued participation in Nigeria’s debt capital market and its reliance on institutional funding as part of its broader financing strategy.
Commenting on the redemption, Managing Director of FairMoney Nigeria, Henry Obiekea, said meeting commitments to investors remained central to building and sustaining trust.
He said the full redemption of the Series 6 Commercial Paper reflected the company’s commitment to responsible financial management and its relationship with investors.
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“Meeting our commitments to investors is fundamental to how we build and sustain trust. The full redemption of our Series 6 Commercial Paper reflects this commitment and our focus on responsible financial management,” Obiekea said.
He appreciated investors for their confidence and continued support, adding that the company remained focused on expanding access to financial services in Nigeria.
Obiekea also commended FMDQ for providing a platform that enables institutions to access the Nigerian debt capital markets.
FairMoney said it would continue to prioritise disciplined financial management and maintain long-term relationships with its funding partners as it expands its operations.
FairMoney Microfinance Bank is licensed by the Central Bank of Nigeria (CBN) and provides digital financial services including loans, savings, transfers, bill payments, cards and asset financing.
The bank said eligible customer deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), subject to applicable coverage limits and regulatory requirements.
