The Development Bank of Nigeria (DBN) has raised some N23 billion from its debut local bond issuance, allowing the country’s foremost wholesale Development Finance Institution more money to continue to fund the Micro, Small, and Medium-Scale Enterprises (MSMEs).
The issuance is part of the DBN’s N100bn medium-term bond program and came a few months after Tony Okpanachi, the managing director/CEO indicated plans to continue to expand the bank’s funding base both in terms of capital and debt, just as may be appropriate to meet the needs of MSMEs.
