Ecobank Nigeria has repaid the outstanding principal and accrued interest on its original $300m Eurobond due 16 February 2026.

In an announcement on Wednesday, the lender said the repayment marked a significant milestone in its liability management strategy and overall balance sheet strengthening efforts.

In January, The PUNCH reported that Ecobank Nigeria had prepaid approximately $245m of its $300m Eurobond, representing more than 80 per cent of the total issuance.

Following the repayment, the bank said that it will now focus its funding initiatives primarily on the domestic capital markets.

“This strategic shift reflects growing confidence in Nigeria’s local debt market and aligns with Ecobank Nigeria’s long-term objective of optimising funding costs while deepening its participation in the domestic financial ecosystem,” stated the lender.

Financial Controller, Ecobank Nigeria, Ogorchukwu Okwechime, in Lagos, said, “Going forward, Ecobank Nigeria will prioritise domestic credit ratings and local debt issuance to achieve its funding objectives.”

He added that the successful repayment reinforces the bank’s commitment to maintaining a resilient balance sheet and sustaining investor confidence.

The transaction underscored Ecobank Nigeria’s proactive approach to liability management, prudent capital planning, and strategic alignment with evolving market conditions. It also positions the bank to leverage domestic funding opportunities while maintaining financial flexibility and operational stability.

The tender offer was conducted with Renaissance Capital Africa (Renaissance Securities Nigeria Limited) acting as financial adviser and dealer manager, while Sodali and Co Limited served as tender agent.

The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, for the sole purpose of financing the purchase of the $300m 7.125 per cent Senior Note due 2026 issued by Ecobank Nigeria.