FMDQ Approves ₦45.12bn Commercial Papers for CapitalSage

FMDQ Securities Exchange Limited has approved the quotation of ₦45.12 billion in Commercial Papers (CPs) issued by CapitalSage Technology Limited, giving the technology company access to Nigeria’s short-term debt capital market.

The approval, announced on October 6, 2026, covers three series: ₦4.29 billion Series 1, ₦3.33 billion Series 2 and ₦37.50 billion Series 3. The issuances form part of CapitalSage’s ₦75 billion Commercial Paper Programme, established to meet the company’s funding requirements and support its business operations.

The approval by FMDQ Exchange’s Board Listings and Markets Committee allows the CPs to be quoted on the Exchange, providing CapitalSage with a capital-market avenue for short-term financing. The company said the net proceeds from the issuances will be used to meet its funding requirements and support strategic initiatives, including the delivery of technology-driven solutions to businesses and consumers.

CapitalSage operates in Nigeria’s digital economy, while the transaction further highlights the use of the domestic debt market by technology companies seeking to finance their activities.

Commenting on the quotation, Tumi Sekoni, Group Chief Operating Officer of FMDQ Group, said the transaction demonstrates the role of Nigeria’s debt capital market as an avenue for businesses to obtain short-term funding. The issuances were sponsored by United Capital Plc as Lead Sponsor, alongside AIICO Capital Limited, Anchoria Advisory Services Limited and Coronation Merchant Bank Limited as co-sponsors.

All four firms are Registration Members (Quotations) of FMDQ Exchange, which said the transaction reflects its continued role in providing a platform for issuers to access capital-market financing.