FMDQ Securities Exchange Limited has officially approved the quotation of Daraju Industries Limited’s N4.92bn Series 1 and N17.76bn Series 2 Commercial Paper under its N50.00bn issuance programme.
The move marks a significant milestone for the Nigerian fast-moving consumer goods sector, providing a multi-billion-naira liquidity injection to one of the country’s leading manufacturers.
The approval, granted by the Exchange’s Board Listings and Markets Committee, is seen as a strategic win for Daraju Industries as it seeks to solidify its footprint in the personal and home care markets.
“This transaction highlights the continued depth of the Nigerian commercial paper market in supporting corporate liquidity requirements and reinforces the Exchange’s role as a trusted platform for efficient capital mobilisation,” stated the Group Chief Operating Officer of FMDQ Group Plc, Tumi Sekoni.
Daraju Industries, known for its diverse portfolio of household brands spanning oral hygiene and personal care, intends to deploy the net proceeds to optimise its balance sheet. The funding comes at a critical time when Nigerian manufacturers are navigating fluctuating operational costs and seeking more efficient funding structures.
The company confirmed that the N22.68bn capital raise will be utilised to bolster working capital, enhance operational efficiency, and sustain its long-term growth trajectory.
“The proceeds will be utilised to bolster Daraju Industries’ working capital requirements, optimise its funding structure, and enhance operational efficiency,” the company noted in a statement, emphasising its goal to “expand its market footprint and deliver increased value to stakeholders.”
The successful quotation was sponsored by FBNQuest Merchant Bank Limited, acting as the Registration Member, with significant support from co-sponsors including CardinalStone Partners Limited, Cordros Advisory Services Limited, and Coronation Merchant Bank Limited.
The high level of institutional involvement underscores the market’s confidence in Daraju’s credit profile and the overall transparency of the FMDQ platform.
“We remain committed to fostering a resilient and transparent market that supports sustainable growth across key sectors of the economy,” Sekoni added, noting that the Exchange’s infrastructure is designed to empower both “established industry leaders and emerging startups”.
As Africa’s first vertically integrated financial market infrastructure group, FMDQ continues to play a transformative role in Nigeria’s debt capital market. By leveraging advanced technology to provide a regulated environment for short-term funding, the Exchange is facilitating the flow of capital necessary for job creation and industrial expansion.
With this latest quotation, Daraju Industries is now positioned to leverage a more robust financial foundation, ensuring its products remain competitive in a rapidly evolving Nigerian consumer landscape.
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