FairMoney Redeems N5.86bn Series 6 Commercial Paper

By Aduragbemi Omiyale

The N5.86 billion Series 6 commercial paper issued by MyCredit Investments Limited, owners of FairMoney Microfinance Bank, has been redeemed.

The debt instrument was sold to investors by the company under its N10 billion Commercial Paper Issuance Programme some months ago.

The repayment of the N5.86 billion was completed by the organisation after the commercial paper matured, fulfilling its obligations under the issuance and reinforcing FairMoney’s commitment to honouring its financial obligations and maintaining the trust of its investors.

This action also marks another milestone in the lender’s participation in Nigeria’s debt capital markets, where investor relationships remain an important part of its funding strategy.

“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.

“We appreciate the confidence our investors have placed in FairMoney and their continued support as we work to expand access to financial services in Nigeria.

“We wish to thank the FMDQ for providing a strong platform for institutions such as ours to access the Nigeria debt capital markets,” the chief executive of FairMoney, Mr Henry Obiekea, stated.

FairMoney said it remains focused on building a sustainable business that serves the financial needs of individuals and businesses. As the company continues to grow, maintaining disciplined financial management and long-term relationships with funding partners remains a priority.