FirstCap Champions Real Estate Financing with Lekki Gardens’ ₦25B CP Issuance Establishment

FirstCap Limited, Nigeria’s leading investment banking and capital markets advisory firm and a subsidiary of First HoldCo Plc, has announced its strategic role as Joint Issuing House and Placing Agent in the successful structuring and execution of a ₦25 billion Commercial Paper Programme for Lekki Gardens Estate Limited.

L-R: Company Secretary, FirstCap Limited, Isaac Nwankwo; Head of Capital Markets, FirstCap Limited, Oluseun Olatidoye; Managing Director, FirstCap Limited, Ukandu E. Ukandu; Chief Financial Officer, Lekki Gardens Estate Limited, Emily Atebe; Non-Executive Director, Lekki Gardens Estate Limited, Mrs Olusola Nyong; Founder/CEO, Pathway Advisory Limited, Alade Adekunle; Principal Partner, Greychapel Legal, Oladele Oladunjoye; Group Head, Treasury, Providus Bank Limited, Chukwuma Nwachukwu and Head, Real Estate and Construction Group, Providus Bank Limited, Peter Umeh at the Lekki Gardens Commercial Paper Signing Ceremony recently held in Lagos.

This milestone transaction underscores FirstCap’s position at the forefront of Nigeria’s debt capital markets, delivering innovative financing solutions that support infrastructure development and unlock value for institutional investors.

The Lekki Gardens issuance demonstrates FirstCap’s ability to deliver superior outcomes in dynamic market conditions. It also aligns with two key national priorities: Capital Market Deepening – Expanding the issuer base and instrument diversity to enhance liquidity and investor access and Real Estate Financing – Offering players in the real estate sector flexible, cost-effective alternatives to traditional bank lending, accelerating project timelines

Subsequent issuances of Commercial Paper under the Programme will support Lekki Gardens’ general corporate purposes and working capital requirements, facilitating sustained growth and expansion across its real estate portfolio.

“This transaction exemplifies FirstCap’s commitment to designing capital solutions that drive long-term value,” said Ukandu E. Ukandu, Managing Director, FirstCap. “Our work with Lekki Gardens highlights our ability to mobilise institutional capital, navigate regulatory complexity, and structure financing that fuels Nigeria’s economic progress. As infrastructure demands rise, we remain focused on bridging the funding gap with innovative, investor-friendly instruments.”