Veritasi Homes secures N50bn funding for expansion

Veritasi Homes & Properties Plc has completed a N50bn non-interest commercial paper programme as the real estate developer moves to strengthen its funding capacity and accelerate expansion across Nigeria.

The programme was formally executed at a signing ceremony in Lagos on 6 August 2026, following the completion of the required regulatory and programme processes.

The transaction provides Veritasi Homes with an additional avenue for accessing structured capital market funding as it seeks to expand its residential development portfolio and deepen its presence in key Nigerian markets.

Speaking at the ceremony, Managing Director and Chief Executive Officer of Veritasi Homes, Nola Adetola, said the transaction reflected growing investor confidence in the company and its business model.

Adetola said the company’s performance should be measured not only by the number of properties delivered but also by the confidence it has built among investors, partners and customers.

He said the N50bn programme demonstrated that sound governance, strategic planning and ethical financing could be combined to mobilise capital for long-term growth.

According to him, the company would continue to focus on developing sustainable communities, creating lasting value and supporting efforts to address Nigeria’s housing and infrastructure needs.

Partner at Veritasi Homes, Tobi Yusuff, said the commercial paper programme would support the company’s strategy of expanding into key markets and speeding up the delivery of premium residential developments.

He said the initiative went beyond raising funds, adding that it reinforced the company’s focus on transparency, operational efficiency and sustainable value creation.

“We are intentional about building not just houses, but thriving communities that stand the test of time,” Yusuff said, adding that continued support from investors and business partners would position the company to scale its operations.

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Managing Director and Chief Executive Officer of Pathway Advisors Limited, Adekunle Alade, the lead arranger and financial adviser to the programme, said the transaction represented another step in Veritasi Homes’ evolution within Nigeria’s capital market.

Alade said Pathway Advisors had worked with the company since 2022, when Veritasi Homes was still building its presence in the capital market.

He noted that the company had since developed a strong track record as an issuer, with its commercial paper offerings attracting significant investor interest and oversubscription.

According to him, Veritasi Homes’ ability to meet its financial obligations and maintain disciplined governance has helped strengthen market confidence in the company.

He described the new N50bn programme as both a funding platform and an indication of investors’ confidence in the company’s growth prospects.

Veritasi Homes has previously accessed the commercial paper market through a N20bn Conventional Commercial Paper Programme registered in 2022. The programme has since expired, after the company raised up to N15bn and fully redeemed all matured obligations on or before their respective due dates.

In 2025, the company registered another N20bn Commercial Paper Programme and subsequently issued Series 1 and Series 2 under the programme.

Series 1 was fully redeemed on 17 April 2026, with approximately N6.13bn repaid to investors. The funds raised were used to support major developments, including the Camberwall Advantage Series and Tinuola Towers.

The company said its growth has also earned international recognition, with the Financial Times naming Veritasi Homes among Africa’s fastest-growing companies and the developer being the only Nigerian real estate company included on the list.