Firm completes N10b capital raise
Nairagram, pan-African payments and financial infrastructure firm, has completed its N10 billion Commercial Paper issuance, fully subscribed in 48 hours of going to the market. The Commercial Paper programme received
Nairagram, pan-African payments and financial infrastructure firm, has completed its N10 billion Commercial Paper issuance, fully subscribed in 48 hours of going to the market.
The Commercial Paper programme received final regulatory approval from Central Bank of Nigeria on January 26.
After completion of preparations in February 3, Nairagram launched the issuance.
By February 4, the offer had been fully subscribed, with completion finalised on February 5, underscoring strong investor confidence in the company’s strategy, governance, and growth trajectory.
Proceeds from the issuance will support Nairagram’s operations in 37 African countries, accelerate expansion, and deepen its presence in key markets, including Nigeria, Ghana, Senegal, Côte d’Ivoire, Guinea-Conakry, Cameroon, Kenya, and Uganda.Building on this momentum, Nairagram has announced plans to raise up to N50 billion in 2026 through capital market instruments to further strengthen its balance sheet, expand product capabilities, and scale its payments infrastructure.
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On significance of this milestone, Idris Ibrahim, president and co-founder, said: “This successful Commercial Paper issuance is a validation of our vision and execution.
“The speed and scale of the subscription reflect institutional confidence not only in our business, but in the broader opportunity to build resilient, African-owned financial infrastructure that supports trade, remittances, and economic growth on the continent.”
Nairagram extended its appreciation to CBN for its regulatory oversight and support.
The firm lauds the Governor, Yemi Cardoso, Deputy Governor of Economic Policy, Mohammed Abdullahi, and Director of Trade and Exchange, Musa Nakorji, whose commitment to strengthening Nigeria’s financial markets enables sustainable capital formation and responsible growth.
