LAPO MFB’s Bond Offer Oversubscribed


The Managing Director, LAPO Microfinance Bank, Dr. Godwin Ehigiamusoe has expressed delight over the successful listing of LAPO N6.2 billion bond on by the Nigerian Stock Exchange (NSE).
The offer surpassed its N6 billion target by N2 billion, despite the market uncertainties, he revealed.
In a recent statement made available to THISDAY, Ehigiamusoe said, “the bank, in its resolve to effectively deal with paucity of funds and to ensure it meets the increasing financial needs of its growing clients base, approached the market for a second time to raise N6 billion through its bond issuance.
“The bond was remarkably over-subscribed by N2 billion, an unprecedented feat, despite market uncertainties.
“With excellent combination of strong corporate governance, experienced management, committed staff and extensive footprints across the country, we are poised to continue to deliver on our core mandate of enhancing financial inclusion.
“We will continue to enable the under-banked and economically active poor to become active participants in our national economy.”
The CEO of the NSE, Oscar Oyema commended LAPO for its tenacity and promised to continue to provide platforms at NSE for credible institutions such as LAPO MFB.