Efficacy Development Signs ₦50 Billion Commercial Paper Programme to Fund Housing Projects
Efficacy Development Plc has signed a ₦50 billion commercial paper programme with Pathway Advisors Limited to finance and accelerate its ongoing property projects in Lagos. The company said the short-term funding will help it complete projects already at advanced stages, manage inflation-driven cost increases and improve liquidity. Completed units are expected to be offered for sale, with mortgage options available to eligible buyers. Pathway Advisors said the commercial paper is designed to support Efficacy’s working-capital needs and enable the company to finish selected projects within two to three months. Keystone Bank, Greychapel Legal and Onyeke Onyirioha & Co. were also listed among the transaction parties.
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