MyCredit Investments Limited, owner of FairMoney Microfinance Bank, has redeemed its ₦5.86 billion Series 6 Commercial Paper, completing its repayment obligations under the instrument issued through its ₦10 billion Commercial Paper Issuance Programme.
The company repaid ₦5,860,319,000 to investors, marking another completed transaction in its participation in Nigeria’s debt capital market and reinforcing its use of commercial paper as part of its funding strategy.
The redemption comes as financial technology companies and other non-bank financial institutions increasingly turn to Nigeria’s debt capital markets to diversify funding sources and support business expansion.
Henry Obiekea, managing director, FairMoney Nigeria, said meeting commitments to investors remained central to the company’s approach to financial management.
“Meeting our commitments to investors is fundamental to how we build and sustain trust,” Obiekea said.
He said the full redemption of the Series 6 Commercial Paper reflected the company’s commitment to responsible financial management and its appreciation of investor support.
The transaction was conducted through FMDQ, which FairMoney credited for providing a platform through which institutions can access Nigeria’s debt capital markets.
The successful redemption keeps investor relationships central to MyCredit Investments’ funding strategy as FairMoney expands its financial services business across individual and business segments.
Commercial paper remains an important source of short-term funding from Nigeria’s domestic capital market, while timely repayment can strengthen an issuer’s relationship with investors and support access to future funding.
MyCredit Investments said maintaining disciplined financial management and long-term relationships with funding partners would remain a priority as the company grows.
The company also thanked investors and partners involved in the issuance and redemption process.
FairMoney, which operates as a microfinance bank, remains focused on expanding access to financial services while building what the company described as a sustainable business model serving the financial needs of individuals and businesses.
The Series 6 redemption therefore closes another funding cycle for the company while keeping the debt capital market as an important component of its broader financing strategy.
