Powering Nigeria’s Telecoms Backbone: FMDQ Exchange Approves Quotation of TeleAfrica Communications Limited’s ₦3.31 Billion Commercial Paper on its Platform

Powering Nigeria’s Telecoms Backbone: FMDQ Exchange Approves Quotation of TeleAfrica Communications Limited’s ₦3.31 Billion Commercial Paper on its Platform
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Powering Nigeria’s Telecoms Backbone: FMDQ Exchange Approves Quotation of TeleAfrica
Communications Limited’s ₦3.31 Billion Commercial Paper on its Platform

FMDQ Securities Exchange Limited has approved the
quotation of TeleAfrica Communications Limited’s ₦0.13 billion Series 1 Tranche A, ₦0.14 billion
Series 1 Tranche B, and ₦3.04 billion Series 1 Tranche C Commercial Papers (“CPs”) under its ₦20.00
billion CP Programme.

This approval by the Exchange’s Board Listings and Markets Committee
reinforces FMDQ Exchange’s role as a trusted platform for short-term capital market financing and
broadens access to Nigeria’s debt capital markets for issuers in the telecommunications sector.

TeleAfrica Communications Limited is a Nigerian interconnect clearing house that provides international-to-local voice termination and local interconnect services between
mobile network operators, as well as reconciliation and billing solutions that support the seamless
exchange of telecommunications traffic across the country.

The net proceeds from these CP issuances,
sponsored by AIICO Capital Limited (Lead Sponsor), Anchoria Advisory Services Limited, and FCSL Asset
Management Company Limited, all Registration Members (Quotations) of the Exchange, will be
deployed to support TeleAfrica’s working capital requirements and strengthen its capacity to deliver reliable interconnect infrastructure across Nigeria’s telecommunications industry.

Commenting on the company’s quotation, Ms. Tumi Sekoni, Group Chief Operating Officer, FMDQ Group PLC, said the quotation of TeleAfrica Communications Limited’s CPs on FMDQ Exchange reflects the
growing confidence of Nigeria’s telecommunications sector in the capital markets as a reliable source of short-term funding. FMDQ Exchange remains committed to extending efficient and transparent access to capital across the diverse sectors that underpin Nigeria’s economy, and we are pleased to
support TeleAfrica as it strengthens the infrastructure connecting the Nigerian telecommunications
industry.”

In the same vein, the Managing Director, TeleAfrica Communications Limited, Mr. Denzil Kentebe,
stated: “We are delighted with the successful completion of our CP quotation on FMDQ Exchange.

This milestone reflects the confidence investors have placed in our business and growth strategy, while
enhancing our financial flexibility to continue investing ininfrastructure, technology and service
delivery to meet Nigeria’s growing connectivity needs.”

Also commenting on the transaction, the Managing Director, AIICO Capital Limited, Dr. Femi Ademola,
stated: “These successful transactions highlights the continued importance of the Nigerian debt capital
market as an efficient source of funding for corporates seeking to support their growth and strategic objectives.

“We thank the Board and Management of TeleAfrica Communications Limited for their trust,
collaboration and commitment throughout the transaction, and also extend appreciation to the investing community for their continued support.”

Through its comprehensive suite of services, FMDQ Exchange continues to enable market participants to unlock capital, drive economic development, and achieve long-term financial success.
FMDQ Group PLC is Africa’s first vertically integrated FMI group,
strategically positioned to provide end-to-end services across the financial markets value chain.

The Group offers registration, listing, quotation, and noting services; integrated trading platforms; clearing and central counterparty, and settlement services for financial markets transactions; securities
depository services; and market data and information services, across the debt capital, foreign exchavatives, and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear
Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.

As a sustainability-focused FMI
group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ
Green Exchange – positioned to lead the transition towards a sustainable future.

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Customs Unveils 3,852 Successful Recruits, Adopts Annual Employment Exercise The Nigeria Customs Service (NCS) has announced the release of the final list of 3,852 successful candidates for its 2024/2025 recruitment exercise and unveiled plans to institutionalise annual recruitment to ensure continuous manpower renewal. Speaking at a press briefing, the Comptroller-General of Customs, Bashir Adewale Adeniyi, said the successful applicants were selected across three entry cadres, with 1,275 recruited into the Superintendent Cadre, 367 into the Inspectorate Cadre, and 2,210 into the Customs Assistant Cadre. Adeniyi said the publication of the final list marks the successful conclusion of the recruitment exercise, which commenced in December 2024. He apologised for the delay in completing the exercise, attributing it to the unprecedented number of applications received and the Service’s determination to conduct a transparent, credible and merit-driven recruitment process. According to the Customs boss, the Service received 573,680 applications for just 3,852 available positions, making the exercise one of the most competitive in the agency’s history. He explained that all applications underwent rigorous screening procedures, including computer-based examinations, verification of credentials against the National Identity database, and additional checks where inconsistencies were detected. He noted that candidates who made the final list would still undergo physical and medical examinations before receiving final approval from the Nigeria Customs Service Board. Adeniyi disclosed that the overall success rate was 0.67 per cent, meaning only one out of every 148 applicants secured a place in the exercise. Breaking down the figures, he said the Superintendent Cadre attracted 276,995 applications for 1,275 vacancies, representing one successful applicant out of every 217 candidates. The Inspectorate Cadre recorded 128,604 applications for 367 positions, making it the most competitive category with one successful candidate for every 350 applicants, while the Customs Assistant Cadre received 168,081 applications for 2,210 vacancies, translating to one successful applicant for every 76 candidates. He encouraged unsuccessful applicants not to be discouraged, stressing that many met the required qualifications but could not be accommodated because of the limited vacancies and intense competition. The Comptroller-General said the recruitment reflected the Federal Character principle, with all 36 states and the Federal Capital Territory represented. Each state was allocated 105 slots, comprising 35 positions in the Superintendent Cadre, 10 in the Inspectorate Cadre and 60 in the Customs Assistant Cadre, while the FCT received 72 slots under the approved allocation formula. On gender representation, Adeniyi revealed that women accounted for 839 successful candidates, representing 21.8 per cent of the total intake, slightly higher than their 21.2 per cent share of the total applications received. He added that female applicants recorded a marginally higher success rate than their male counterparts, particularly in the Inspectorate and Customs Assistant cadres, reaffirming the Service’s commitment to encouraging greater female participation in future recruitment, especially in operational and enforcement roles. According to him, the exercise also produced a youthful workforce, with a median age of 26 years and nearly three-quarters of the successful candidates below the age of 30. He said the youthful intake would strengthen the Service’s capacity to embrace modern customs administration driven by technology, data analytics and automated risk management. Adeniyi further announced that the Nigeria Customs Service would now conduct recruitment exercises annually instead of waiting several years between recruitment cycles. He disclosed that the 2026 recruitment exercise would commence later this year, expressing confidence that future recruitment would be completed within a single calendar year, from advertisement to the publication of the final list. According to him, the digital systems, screening architecture and verification processes developed during the current exercise would significantly shorten future recruitment timelines. He explained that the annual recruitment policy would enable the Service to plan its workforce more effectively, promptly replace retiring personnel and provide qualified Nigerians with predictable employment opportunities. The Comptroller-General advised successful candidates to rely only on official Nigeria Customs Service communication channels for further instructions, reiterating that recruitment into the Service remains completely free. He urged members of the public to report anyone demanding money in exchange for employment, describing such individuals as fraudsters. Congratulating the successful candidates, Adeniyi reminded them that they earned their positions through a rigorous and highly competitive process and urged them to uphold the professionalism, discipline and integrity expected of officers of the Nigeria Customs Service. He also assured unsuccessful applicants that another opportunity would be available later this year under the newly introduced annual recruitment programme.

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