MyCredit Investments Limited, the holding company behind FairMoney Microfinance Bank, has fully redeemed its Series 6 Commercial Paper, repaying investors ₦5,860,319,000 as the notes reached maturity on September 18, 2026.
The Series 6 note (a short-term, unsecured corporate loan that an investor buys at a discount and cashes in for full face value when it matures) was issued on December 23, 2025, carrying a 269-day tenor and a discount rate of 19.48%, under the company’s ₦10 billion Commercial Paper Issuance Programme registered on the FMDQ Securities Exchange. The programme has now supported six separate issuances since MyCredit Investments debuted in the market in 2023 with a ₦2.5 billion Series 1 note that qualified institutional investors oversubscribed.
Henry Obiekea, Managing Director of FairMoney Nigeria, said in a statement seen by Condia: “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 repayment adds to a funding history that began with FairMoney’s debut commercial paper in June 2023, when the company raised ₦2.5 billion at a 16% yield to support short-term liquidity needs and finance growth in its loan book. The programme’s size was later expanded to ₦10 billion, and FairMoney has returned to the market with a new series roughly every few months since, including a ₦1.44 billion Series 3 note in November 2024 and a ₦4.47 billion Series 5 note in March 2025.
FairMoney operates as a Central Bank of Nigeria-licenced microfinance bank, and eligible customer deposits are insured by the Nigeria Deposit Insurance Corporation, subject to applicable coverage limits. The commercial paper programme sits alongside customer deposits as one of the funding sources behind the bank’s lending activity, with MyCredit Investments Limited remaining the corporate entity that issues the notes on FairMoney’s behalf.
The redemption comes weeks after FairMoney announced it had surpassed 30 million registered users in Nigeria, a milestone the company cited as evidence of growing trust in its digital banking and lending products. Regular repayment of its commercial paper obligations gives the company a second, verifiable track record beyond user growth, one measured by institutional investors who assess it every time a new series comes to market.
Read also: How FairMoney’s 30M users stand against Nigeria’s oldest banks
Last updated: September 22, 2026
