Ooni’s Ojaja Pan Africa Redeems ₦9.2bn Public Debt, Reaffirms Commitment To Economic Growth

Ooni Adeyeye Enitan Ogunwusi’s Ojaja Pan Africa Limited has successfully redeemed its ₦9.2 billion commercial paper issuance, a landmark move that underscored the firm’s financial strength and unwavering commitment to Nigeria’s economic stability.

The funds were raised under a ₦10 billion programme registered on the FMDQ Securities Exchange. According to the company, it repaid ₦2.15 billion from Series 1, which matured on November 21, 2025, and ₦6.91 billion from Series 2, which matured on February 20, 2026, all from internally generated funds.

This achievement came at a time when Nigeria’s economy was facing significant headwinds, with the Central Bank of Nigeria (CBN) maintaining a high Monetary Policy Rate of 27 per cent, making short-term borrowing increasingly expensive for corporations.

“The timely redemption of our Series 2 Commercial Paper, following the successful repayment of our maiden Series 1, stands as a powerful testament to the stability of Ojaja Pan Africa’s balance sheet and the rigor of our financial planning,” said Dr. Ayobami Oyedare, Acting Managing Director of Ojaja Pan Africa Limited.

“By meeting these obligations in full, we have validated the trust placed in us by the investing public. With both maturities now successfully resolved, we are strategically focused on leveraging the remaining resources from our ₦10 billion programme to foster significant growth and expansion opportunities across the continent.”

The redemption process was led by Comercio Partners Capital Limited, which served as Lead Financial Adviser and Arranger. Its CEO, Mr. Stephen Osho, hailed the transaction as “a defining moment” for the company.

“The flawless execution of this redemption underscores the company’s exceptional operational capabilities and solid balance sheet integrity in the marketplace. Achieving this success amidst the intense pressures of the current economic tightening cycle illustrates the company’s capacity to not only weather challenges but to thrive in such conditions,” Osho said.

Far from being a ceremonial monarch, Ooni Ogunwusi has built a reputation as an innovative entrepreneur and nation-builder. With over 25 years of business experience, he has positioned Ojaja Pan Africa as a continental conglomerate with investments in real estate, hospitality, agriculture, education, manufacturing, and tourism.

In February 2026, the Ooni of Ife signed a Memorandum of Understanding (MoU) with the Nigerian Tourism Development Authority (NTDA), earning him the title of Grand Patron of Tourism. The partnership aimed to revitalise heritage sites and tourism infrastructure across the country.

“It has always been my dream to build a powerful brand that embodies the essence of Africa, one that emerges from our vibrant continent and secures a prominent position on the global stage,” the Ooni stated.

“My passion for educational excellence inspired me to establish Ojaja University in both Ilorin and Ile-Ife, with the aim of enhancing the quality of education and empowering the next generation of entrepreneurs.”

The Ooni also reaffirmed his commitment to youth empowerment through agriculture, recalling the launch of an “in-and-out growers” cocoa initiative eight years ago.

“I personally gave three million cocoa seedlings to youths across the country to help them expand their horizons and rekindle interest in farming as a tool for development and economic stability. Today, those youths are reaping the rewards of their hard work with bountiful harvests,” he said.

He emphasised the need to process cocoa domestically rather than export raw beans, saying, “By processing these beans domestically, we aim to create jobs for more youths and conserve foreign exchange for Nigeria, particularly in the chocolate and beverage markets. These impactful initiatives have garnered significant attention, with coverage from respected media outlets such as CNN and Al Jazeera.”

In line with his push for homegrown brands, the Ooni recently launched OJAJA Soft Drinks, a beverage line made from local ingredients such as kola nut, ginger, lime, and lemon. The initiative empowers local farmers, promotes healthy consumption, and creates sustainable value chains for young entrepreneurs.

Another major milestone is Ojaja Mall, touted as Nigeria’s largest AI-powered shopping destination. Located in Lekki, Lagos, the mall houses retail outlets, cinemas, MSME centres, and entertainment zones, generating thousands of direct and indirect jobs.

Through his House of Oduduwa Foundation and various entrepreneurial initiatives, Ooni Ogunwusi continues to advocate for national unity and economic progress.

“We are not just cultivating cocoa; we are sowing the seeds for a sustainable future for our youth, one that showcases the rich potential of our continent to the world,” he declared.