TrustBanc Holdings Limited (TrustBanc), the parent company of three regulated financial services companies, has successfully redeemed its series 3 Commercial Paper (CP) issue for a total amount of N4.2 billion on the 2nd of March 2022.

The 180-day CP was issued at a discount of 12.6573 per cents, subscriptions to the issue were made by institutional investors, with a significant proportion by asset and fund managers.

“We confirm that the maturity proceeds of Commercial Paper(CP) bearing NGTRUCP22S34 on FMDQ has been duly paid to all the holders of the Series on the maturity date, March 2, 2022.”

Earlier in the year, TrustBanc announced the successful maturity and redemption of its debut Series 1 and 2Commercial Papers, bringing the total redemption under its N10billion Issuance Programme to N6.1 billion.

“Once again, we are pleased to repay your trust and redeem our series 3 issue at its maturity. I would like to thank all the holders of this commercial paper issue. Their trust represents a strong mark of confidence in TrustBanc, its financial performance, its business model and growth strategy. In addition, our Group is proud to contribute to the growth of the Commercial Paper market through the FMDQ, “said Abu Jimoh, Chief Executive Officer of TrustBanc Holdings Limited.

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UCML Capital Limited, United Capital Plc and Emerging Africa Group, acted as dealers on the series. Speaking on behalf of the dealers, Director at UCML Capital Limited, Egie Akpata, said the company’s ability to pay at maturity further confirms to subscribers and the market at large thatTrustBanc Holdings Limited is a trustworthy counter-party.

TrustBanc was incorporated as a holding company to synergise the operations of TrustBanc Financial Group. The Group currently consists of three operating subsidiaries, regulated by the Central Bank of Nigeria (CBN) or Securities and Exchange Commission (SEC), TrustBanc J6 MFBLimited, TrustBanc Asset Management Limited, and TrustBanc Capital Management Limited.

The Group is expanding to become an integrated financial services conglomerate with solutions covering wealth management, funds, ethical and conventional investments management, securities trading, savings, and lending.

Located in Victoria Island, Lagos, the group’s broad range of services ensure a bespoke solution to clients. Its services, which are accessible and digital, cover microloans, business financing, investment advisory, or advice on the preservation of wealth.

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.

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