Nairagram, a leading pan-African payments and financial infrastructure company, has successfully concluded a N10 billion Commercial Paper issuance, which was fully subscribed within 48 hours of its market debut.
The rapid subscription highlighted strong investor confidence in the company’s governance, operational strategy, and long-term growth prospects.
The issuance received final regulatory approval from the Central Bank of Nigeria (CBN) on January 26, 2026.
After completing preparatory market arrangements on February 3, Nairagram launched the Commercial Paper, which was fully subscribed by the following day and formally finalised on February 5.
Proceeds from the issuance will finance Nairagram’s operations across 37 African countries and accelerate expansion in strategic markets, including Nigeria, Ghana, Senegal, Côte d’Ivoire, Guinea-Conakry, Cameroon, Kenya, and Uganda.
The company also announced plans to raise up to N50 billion later in 2026 through a mix of capital market instruments aimed at strengthening its balance sheet, expanding product capabilities, and scaling payments infrastructure across the continent.
President and Co-Founder Idris Ibrahim described the successful issuance as validation of the company’s execution strategy and long-term vision.
“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 across the continent,” he said.
Co-Founder Gbolahan Obanikoro emphasised that evolving global financial infrastructure presents opportunities for scalable African-owned payment platforms to operate at continental and international levels.
“This transaction demonstrates how local capital, sound regulation, and strong governance can support the development of sustainable indigenous infrastructure,” he said.
Nairagram expressed appreciation to the CBN for its regulatory oversight and reaffirmed its commitment to compliance, innovation, and long-term value creation.
The company currently processes over $2 billion in payments annually, facilitating deposits, mobile money transfers, and cash pickups across multiple African markets through its unified API platform.
This milestone positions Nairagram as one of the continent’s fastest-growing financial infrastructure providers, strengthening Africa’s ability to develop indigenous solutions that support economic growth and cross-border trade.
