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Access Bank Sells $50m 5-Year Green Bond for Sustainable Projects



Access Bank Logo

By Dipo Olowookere

One of the leading financial institutions in Nigeria, Access Bank Plc, has sold green bonds worth $50 million to investors interested in funding sustainable projects across the world.

The transaction was confirmed by the parent company of the lender, Access Holdings Plc, in a notice filed to the Nigerian Exchange (NGX) Limited.

In the disclosure signed by the company secretary, Mr Sunday Ekwochi, Access Holdings stated that the senior unsecured debt instrument has a five-year tenor, maturing on May 3, 2027.

According to the firm, the notes would be used for projects that meet the “criteria set out in the bank’s green financing framework dated November 18, 2021.”

This is not the first time Access Bank is approaching the debt market to raise funds for projects that are friendly to the environment.

In March 2019, the tier-one banking institution sold N15 billion worth of green bonds to investors at 15.50 per cent for a 5-year tenor. They were subsequently listed on the NGX, FMDQ Securities Exchange and the Luxembourg Stock Exchange (LuxSE).

More than three years after, the company is coming again to raise funds for green projects, though not in local currency.

In the statement, Access Holdings said this new issue, which was executed through a private placement, is under the bank’s $1.5 billion Global Medium Term Note Programme and will be listed on the London Stock Exchange (LSE).

“We write to notify the NGX that our banking subsidiary, Access Bank Plc, has concluded the sale of a $50 million step-up green notes due 2027 under its $1.5 billion Global Medium Term Note Programme through a private placement,” a part of the notice said.

”The notes will be issued in registered form with a settlement date of May 3, 2022, and maturity date of May 3, 2027,” it added.

“The net proceeds from the issuance of the notes will be used by Access Bank for the financing or refinancing, in part or in full, new and/or existing projects and assets meeting the eligibility criteria set out in the bank’s green financing framework dated November 18, 2021,” it explained.

“The notes will also be listed on the London Stock Exchange and registered under the Reg S rules,” Access Holdings further stated.

It confirmed that, “Access Bank’s regulator, the Central Bank of Nigeria (CBN), has given its No Objection and approval to the transaction,” assuring that the investing community would be “apprised of further developments as they occur.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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Dollar Shortages Strike Again…Nigeria Indexes in Crosshairs



dollar shortages

By Lukman Otunuga

Despite oil prices surging to multi-year highs, Nigeria has failed to cash in.

The destructive combination of sub-optimal oil production, poor infrastructure, and fuel subsidies have drained oil revenues that account for roughly 90% of foreign exchange earnings.

Lower oil revenues and falling foreign exchange reserves are forcing Nigeria to ration dollars. The negative impacts continue to be reflected across the economy and local currency. But now the dollar shortages have attracted the attention of MSCI Inc. which is considering downgrading the MSCI Nigeria indexes to the status of a standalone market from frontier markets.

It is worth keeping in mind that a developed market is the highest ranking, followed by emerging markets, frontier markets, and then finally standalone markets at the bottom.

Given the difficulty in repatriating funds from Nigeria, this has placed the MSCI Nigeria Indexes in the crosshairs. Such a negative development may hit sentiment toward the county’s assets at a crucial period where economic growth remains fragile.

To add insult to injury, the NGX All Share Index has gained roughly 20% this year in local currency terms. A blockbuster performance when compared to the MSCI Emerging market Index which is down roughly -19%.

In other news, the Naira was trading around N419 versus the dollar on the official spot rate and has weakened only 1.3% year-to-date. However, on the Peer-to-Peer (P2P) segment of the FX, the Naira ended Thursday at N620 versus the dollar and N602 on the black market. Nigeria still faces the issue of multiple exchanges but this will be a discussion for another time.

Lukman Otunuga is a Senior Research Analyst at FXTM

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Binance, Cristiano Ronaldo to Release Exclusive NFTs



Binance Cristiano Ronaldo

By Adedapo Adesanya

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has announced the signing of an exclusive and multi-year NFT partnership with football icon, Cristiano Ronaldo.

Through this partnership, Binance will launch a global campaign aiming to give Ronaldo’s fans an introduction to Web3 with a compelling entry point into the world of NFTs.

The company disclosed that over the course of the agreement, Cristiano Ronaldo and Binance will create a series of collections for sale exclusively on the Binance NFT platform.

The first collection of the exclusive NFTs will be released later this year and will feature designs created in collaboration with Ronaldo.

Speaking on the deal, Binance founder and Chief Executive Officer, Mr Changpeng “CZ” Zhao said, “Cristiano Ronaldo is one of the world’s best footballers, and has transcended sport to become an icon in multiple industries.

“He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work.”

“We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history,” he added.

“My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of,” said Ronaldo.

“I know the fans are going to enjoy the collection as much as I do.”

The Cristiano Ronaldo NFT collections will be available exclusively on Binance NFT at

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume.

The Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.

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Cellulant Wins Payment Platform Solutions Provider of the Year 




By Adedapo Adesanya

Cellulant, Africa’s leading payments company, has been awarded the Payment Platform Solutions Provider of the Year in Nigeria at the 13th Beacon of ICT Awards 2022.

This award is a recognition of Cellulant’s work in providing a payments platform that focuses on driving merchant business and digital payments for local, regional and global merchants in the continent.

It was also lauded for digitising both online and offline payments.

The award was presented to Cellulant Nigeria by Communication Week Media Limited, the publishers of Nigeria Communications Week.

The annual event, which recognises leading players in the ICT sector in Nigeria whose outstanding achievements contribute to the industry’s growth, was themed Impact of Blockchain Technology in a Digitalized Nigeria. 

Renowned businesses such as Emirates, GIG logistics, Coldstone, Bolt, Dominos and Ethiopian Airlines to name a few, have partnered with Cellulant to use their Tingg digital payments solution as a single collection gateway in Nigeria.

Cellulant simplified their product, unifying their offering into Tingg — a digital payments platform that addresses the complex needs of managing different payment channels for a business.

This has made it easy for businesses to conveniently and affordably accept payments from a single integration.

Customers can make payments for goods and services using locally relevant payment options.

Founded in 2003, Cellulant has more than 18 years of experience providing locally-relevant payment solutions for businesses and their consumers. Its evolution over the years, from a digital content business to mobile banking and now to payments, has allowed the company to build an expansive network, strong relationships and partnerships.

Cellulant provides a unified, single-contract, and single API payments platform – named Tingg- that makes it easy for businesses to receive and make payments; while allowing anyone to pay from their mobile money, local and international cards or directly from their bank.

Today, Cellulant has an office presence in 18 countries, including Nigeria, with a payments platform connecting thousands of businesses with 257 payment options across 35 countries. The platform powers payments for 200 million consumers on a single inclusive network for interoperability across Africa.

Speaking on the recognition, Mr Opeyemi Fowler, Cellulant’s Head of Enterprise Sales stated “the digital payments landscape in Nigeria and Africa is evolving rapidly with differing payment channels such as card, mobile money, bank transfer and cash – with volatile currency fluctuations and no single settlement framework.

“This is creating a highly fragmented landscape for businesses whose customers increasingly request to pay for their purchases using digital payment options. Every day, our job at Cellulant is to work with our customers and partners to solve this fragmentation in payments.”

“This award is a testament to our work in providing a payments platform that is transforming the way people do business in Nigeria and beyond; and a reflection of the hard work done by our people.”

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