BII, FCMB Support MSMEs in Northern Nigeria with $50m Credit Facility

Kayode Tokede

British International Investment (BII) and First City Monument Bank (FCMB), have announced a $50 million credit facility aimed at driving growth and economic inclusion for Micro, Small, and Medium-sized Enterprises (MSMEs) in Nigeria.

Under the partnership, BII will provide the credit facility to FCMB for onward lending to MSMEs. 70 per cent of the facility is dedicated to financing MSMEs in northern Nigeria, an area that is historically underserved by capital providers.

The remaining 30 per cent will be directed towards empowering women-owned businesses nationwide.

Managing Director and Chief Executive Officer, FCMB, Yemisi Edun said: “Our partnership with British International Investment strengthens our ability to channel resources where they matter most, deepen financial access for underserved groups, and create pathways for long-term economic participation across the country. As of September 2025, we provided over N533 billion credit lines to thousands of businesses nationwide.”

British Deputy High Commissioner in Lagos, Jonny Baxter said: “This investment is one of many examples of the UK’s commitment to partnering with Nigeria to drive inclusive growth and mutual prosperity. By empowering Nigerian SMEs, particularly those in underserved regions, we are not only creating jobs and driving inclusion but also strengthening the foundations for deeper UK-Nigeria trade and investment partnerships now and in the future. In addition, by supporting FCMB to innovate its approach to deploying finance, this investment will help catalyse systemic change in how SMEs are financed across Nigeria.”

Managing Director and Head of Africa at BII, Chris Chijiutomi said: “We are delighted to partner with FCMB to directly address long-standing barriers to financial access, empowering Nigerian entrepreneurs who have faced significant challenges in securing affordable financing. Through this investment, we are unlocking opportunities for businesses particularly in Northern Nigeria where our support is needed most. This aligns with our commitment to supporting MSMEs and women-led businesses that are key to creating jobs and accelerating inclusive prosperity across Nigeria.”