Zylus Homes Signs N10billion Worth Commercial Paper to Tackle Housing Deficit in Nigeria

Mary Nnah

In a bid to expand and develop more homes across Nigeria, Zylus Homes and Property, one of Africa’s leading and most innovative real estate development company,  has signed a commercial paper programme worth N10 billion.

The Commercial paper signed on August 17th and approved by the Board Listings and Markets Committee of the Financial Market Dealers Quotation Securities Exchange (FMDQ), was witnessed by professional partners and executives including Pathway Advisors Limited, Keystone Bank, Meristem Trustees, DLM Trust company, Africa Law Practice NG and Company, and Joseph Dauda & Co.

Speaking at the signing, the GCEO of Zylus Homes and Property, Dr Oluwatosin Olatujoye said the CP is set to help the company accelerate the development of its ongoing projects while tackling the housing deficit by helping more Nigerians have access to quality and affordable homes.

He also appreciated all the financial and legal partners, advisors and trustees for their efforts and professionalism in ensuring the approval of the Commercial paper programme.

In his remarks, the MD of Pathway Advisors Limited, Mr Adekunle Alade said that based on the track records of the company and its ongoing projects, he believes that raising the first series will be easy and that the programme will enable the company to achieve its housing goal.

The Regional Manager, Keystone Bank, Mrs Olufunke Nwanze also affirmed that the signing of the CP is a momentous event because Zylus Homes has built a formidable brand in such a short period adding that the CP will help them achieve great potential.

While speaking on this milestone, the Zylus Homes and Property, Executive Director of Finance, Mr. Wasiu Sonekan affirmed that the money invested will be immediately taken to the site to complete ongoing housing projects which will give room for a greater level of expansion and growth.