Economy
FCMB: Asset Management Limited Unveils The FCMB-TLG Private Debt Fund Series 2 Offer Of Up To N20bn
FCMB: Asset Management Limited Unveils The FCMB-TLG Private Debt Fund Series 2 Offer Of Up To N20bn
FCMB: Asset Management Limited unveils the FCMB-TLG Private Debt Fund Series 2 offer of up to N20bn. FCMB Asset Management Limited (FCMBAM) is pleased to announce the official opening of the FCMB-TLG Private Debt Fund Series 2 Offer of up to Twenty Billion Naira (N20 billion), following the receipt of all relevant regulatory approvals. The Offer, which opened today, Monday January 26, 2025, is targeted at Qualified Institutional Investors (QIIs) and High Net Worth Individuals (HNIs).
Similar to Series 1, proceeds of the Series 2 Offer will be invested in the debt component of the capital structure of mid-sized companies with commercially viable and impact-oriented activities in sectors of the Nigerian economy aligned with the United Nations (UN) Sustainable Development Goals (SDG), while providing investors with an opportunity to earn competitive risk-adjusted return on investment. Specifically, the Series will aim to provide further support to companies in Agriculture, Clean Energy, Education, Healthcare, IT/Technology, and Transport/Logistics.
The FCMB-TLG Private Debt Fund holds the distinction of being Nigeria’s first Naira-denominated Private Debt Fund, with a programme size of ₦100 billion approved by the Securities and Exchange Commission (SEC) in 2024.
The Fund’s Series 1 closed in September 2024 and witnessed significant investor interest in an Offer that was 4.3% oversubscribed, as a total of N10.43 billion was raised from five (5) different investor categories, including top-rated Pension Fund Administrators (PFAs).
Despite prevailing macroeconomic headwinds, Series 1 delivered positive real and competitive risk-adjusted returns in 2025 and paid distributions to unitholders in April and November 2025, reaffirming the resilience and relevance of Private Debt as an income-generating Asset Class.
Commenting on the launch of Series 2, James Ilori, Chief Executive Officer (CEO) of FCMB Asset Management Limited, said:
“The oversubscription of Series 1 was a clear testament to the trust and confidence investors have in our expertise and ability to manage the FCMB-TLG Private Debt Fund. With Series 2, we are deepening our commitment to delivering consistent value through Private Debt investments that balance opportunity with prudence.
Institutional investors can expect the Series 2 Offer to build on the success of our maiden issuance and continue to provide a compelling opportunity to earn competitive risk-adjusted return on investment, while providing mid-sized companies with the much-needed capital required to scale their operations, thereby promoting Nigeria’s economic growth and development”
Isha Doshi of TLG Capital Investments Limited also said, “The Series 2 Offer reflects the strengthening partnership between TLG Capital and FCMB Asset Management with a shared focus on building a robust local private credit ecosystem.
Through this collaboration, we are helping to deepen the asset class, catalyse domestic capital, and support Nigerian businesses with long-term, well-structured financing that underpins sustainable growth”.
About FCMB Asset Management Limited
FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, has been in operation since 2000, providing portfolio management and investment advisory services to a broad base of individual and institutional clients.
With strong ratings from Agusto & Co. (A (IM)) and GCR Ratings (A-), FCMBAM is a market leader recognised for disciplined investment management, client alignment, and product innovation. The company is licensed by the Securities and Exchange Commission (SEC), Nigeria.

Asset Management Limited
FCMB Group Plc is a leading financial services holding company with subsidiaries in retail and commercial banking, consumer finance, asset management, pensions management, trusteeship services, investment banking, and other financial services.
About TLG Capital Investments Limited (TLG Capital)
TLG Capital Investments Limited (TLG Capital) is a private, employee‑owned, and London‑based investment firm specialising in Sub‑Saharan Africa since 2009.
The TLG Group manages assets in excess of US$180 million across private credit and growth strategies and recently announced the launch of Africa Growth Impact Fund II (AGIF II) with a US$75 million first close anchored by IFC, Swedfund, Norfund and Bpifrance.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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