A real estate firm, Magnificent Multiservices Limited, in its pursuit of housing solutions for Nigeria registered ₦20 billion series 1 Commercial Paper programme.
According to The Punch, the series 1 Commercial Paper programme was registered on the FMDQ Securities Exchange platform.
Of the ₦20 billion investment proposed for its city and estate developments through Radial Homes, ₦5 billion has been accessed.
In a statement, a Director at Magnificent Multiservices Limited, Claris Agenmonmen, said the move is another step to expand its solution in Nigeria real estate.
He said, “We are extremely pleased, as this will be another step for us to expand and find solutions to some of the real estate problems Nigerians face daily.
“The success of this issue and subsequent listings are significant indicators of increasing investor confidence in our company’s reputation, brand, and performance.
“Magnificent Multiservices Limited started as a real estate firm doing great work in real estate investment over the years with investment spread across Edo, Rivers, Lagos and Abuja.
“With the 20bn commercial paper, we intend to go into full development of smart cities and smart homes through Raedial Homes which is our development subsidiary.”