LAGOS — In a move that has sent ripples through the Nigerian financial markets, Ojaja Pan Africa Limited, the conglomerate chaired by His Imperial Majesty, Ooni Adeyeye Enitan Ogunwusi, has successfully redeemed its inaugural ₦9.2 billion Commercial Paper (CP) issuance.
The seamless repayment—completed using internally generated resources—is being hailed as a masterclass in financial discipline, particularly as Nigeria navigates a high-interest-rate environment where the Monetary Policy Rate (MPR) currently sits at a steep 27%.
Proving Liquidity in a Tight Market
The funds were raised under a ₦10 billion programme on the FMDQ Securities Exchange. Despite the “prohibitively expensive” cost of short-term borrowing in 2026, Ojaja Pan Africa fulfilled its obligations in two distinct phases:
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Series 1 (₦2.15bn): Matured and repaid on November 21, 2025.
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Series 2 (₦6.91bn): Matured and repaid on February 20, 2026.
According to Dr. Ayobami Oyedare, Acting Managing Director of Ojaja Pan Africa, the redemption validates the trust of the investing public and proves the stability of the company’s balance sheet. Comercio Partners Capital Limited served as the Lead Financial Advisers and Arranger for the transaction.
Beyond Royalty: The Ooni as an Industrialist
The success of this financial instrument highlights the Ooni’s transition from a traditional figurehead to a dynamic business leader with over 25 years of entrepreneurial experience. His conglomerate, Ojaja Pan Africa, is now a multi-sector powerhouse focused on:
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Manufacturing & Import Substitution: The recent launch of Ojaja Soft Drinks—made from local ingredients like kola nut, ginger, and lime—is a direct challenge to imported beverage giants and supports local value chains.
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Tourism & Heritage: In February 2026, the Ooni signed an MoU with the Nigerian Tourism Development Authority (NTDA), becoming the “Grand Patron of Tourism.” He is currently leveraging private capital to upgrade heritage sites and hospitality infrastructure.
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Education: The establishment of Ojaja University (with campuses in Ilorin and Ile-Ife) aims to address the skills gap in the Nigerian workforce by grooming the next generation of entrepreneurs.
| Sector | Key Initiative | Strategic Goal |
| Finance | ₦9.2bn CP Redemption | Establish creditworthiness & liquidity. |
| FMCG | Ojaja Soft Drinks | Import substitution & local farmer empowerment. |
| Tourism | NTDA Partnership | Diversify economy away from oil dependency. |
| Education | Ojaja University | Bridge the skill-gap for UI graduates (Piece 84). |
Analysis: A Blueprint for “Nation-Building”
The Ooni’s focus on African-sourced ingredients and educational excellence aligns perfectly with the NESG’s mandate for “export-first” production (Piece 81). By utilizing diaspora networks and cultural expertise, the Ooni is positioning his conglomerate as a regional champion for the AfCFTA era.
