CardinalStone

Official X account of CardinalStone. We provide a range of services in Financial Advisory, Securities & Investment Management in Nigeria & West Africa.

Earlier this month, we took a moment to do something important — celebrate the people who make CardinalStone extraordinary. 🎉 Every laugh, every memory, every moment from our Employee Appreciation Day was a reminder that our greatest asset has always been our people. Here's a look back at how we showed up for the team that shows up for us every day. 🙌 #EmployeeAppreciationDay #TeamCardinalStone #OurPeople #CardinalStone

There is no blueprint for what a mother does — she simply loves, adjusts, sacrifices, and keeps going. Today, we celebrate every woman wearing that crown—the mothers, the mother figures, and those quietly holding families together in ways the world rarely sees. Happy Mother's Day from CardinalStone. We honour you today and always. 🌹

She gives her best — in boardrooms, in homes, in communities. And the world gains because of her. This International Women's Day, CardinalStone celebrates every woman who pours into others and builds a future worth having. You are seen. You are celebrated. 💜 #GiveToGain #IWD2026 #InternationalWomensDay #CardinalStone

Every right ever won began with a voice that refused to be silenced. Every change we celebrate today started with courage, conviction, and action. This International Women’s Day 2026, the Nigerian-British Chamber of Commerce (NBCC) invites you to be part of a powerful conversation one that moves beyond words and into impact. Theme: Rights. Justice. Action. For all women and girls. On Thursday, March 12, 2026 at 10:00am, we gather at NBCC Plaza, to champion equity, amplify leadership, and strengthen the role of women in business and nation-building. Hosted by Prince Abimbola Olashore, President and Chairman of Council, NBCC, with an inspiring keynote by Mrs. Kofo Akinkugbe, OON, Founder & Group CEO of SecureID a woman whose journey embodies resilience, excellence, and enterprise. Because when women rise, industries grow. When women lead, economies transform. And when we act together, justice becomes reality. Join us. Be the voice. Be the action. Register Here: bit.ly/NBCCIWD26 For partnerships and sponsorship inquiries, kindly contact: segun.olujobi@nbcc.org.ng, best.anabor@nbcc.org.ng Segun – 0706 672 0851 | Best – 09023309988 . #NBCCIWD2026 #InternationalWomensDay #RightsJusticeAction #WomenInLeadership #WomenInBusiness

With ₦27.45 trillion in assets, Nigeria's pension industry has steadily grown into one of the nation’s most reliable sources of domestic capital. As the landscape matures, the focus is shifting to how this growth can strategically contribute to Nigeria’s economic development. Watch Mahmud Sulaiman, Managing Director of CardinalStone Pensions, as he shares his perspective on unlocking the full potential of pension assets and positioning the industry as a driver of sustainable economic progress. Visit our YouTube channel to watch the full conversation or click this link zurl.co/8joOR

Love is not just what we feel. It’s what we build, protect, and grow. This Valentine’s Day, we celebrate the people, partnerships, and purpose that make it all worthwhile.❤️ Happy Valentine’s Day From all of us at CardinalStone

A look back at the CardinalStone Investors' Conclave, a gathering of thought leaders, investors, and decision-makers shaping the future of investment. Click the link to watch the full event youtube.com/watch?v=EN0P_f…

Two awards. One outstanding team. CardinalStone Securities clinched Broker of the Year and Equity Trader of the Year at the Nigerian Exchange Made of Africa Awards. This recognition belongs to our people, our clients, and our shared pursuit of excellence.

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@CardinalStoneNG @CardinalStoneNG I reached out to via email over a month now, I never got any feedbacks. Here’s a copy of the mail, date it was sent.

At the CardinalStone Investors’ Conclave 7.0, leading voices across policy, finance, and industry examine Future-Proofing Nigeria and the strategic choices that will shape the country’s economic direction in 2026 and beyond. Date: Thursday, January 29, 2025 Time: 4:00 PM Join the conversation shaping Nigeria’s strategic choices for 2026

The Federal Government of Nigeria has successfully issued its first ₦501 billion bond under the Presidential Power Sector Debt Reduction Programme, recording full subscription from pension funds, banks, asset managers, and other investors. Stories on infratt.com

As a panelist at the CardinalStone Investors’ Conclave 7.0, Jumoke, Chief Distribution Officer at AXA Mansard, contributes deep expertise in building high-performance go-to-market models, strengthening partner channels, and driving sustainable growth to conversations on Nigeria’s economic resilience in 2026 and beyond. Date: Thursday, January 29, 2025 Time: 4:00 PM Join the conversation shaping Nigeria’s strategic choices for 2026.

Moderating the high-level panel at the CardinalStone Investors’ Conclave 7.0 is Boason Omofaye, one of Nigeria’s foremost business and markets broadcast journalists, bringing over three decades of experience covering African and global business, finance, and economic policy to the conversation on Future-Proofing Nigeria: Strategic Choices for 2026. Date: Thursday, January 29, 2025 Time: 4:00 PM Join the conversation shaping Nigeria’s strategic choices for 2026

With a proven track record in expanding access to quality healthcare, Tosin Runsewe, Chief Executive Officer of AfyA Care, joins the panel at the CardinalStone Investors’ Conclave 7.0, offering investor and operator perspectives on strengthening healthcare delivery and future-proofing Nigeria’s human capital for 2026 and beyond. Date: Thursday, January 29, 2025 Time: 4:00 PM Join the conversation shaping Nigeria’s strategic choices for 2026.

Proudly grateful to have been the Transaction Lead on this debut N501billion Power Sector Bond Issue👏

CardinalStone Partners Limited is proud to have led the landmark ₦501.01 billion issuance, issued by *NBET Finance Company PLC* under the ₦4 trillion Multi-Instrument Programme, acting as Lead Financial Adviser and Lead Issuing House. This milestone transaction supports critical reforms aimed at strengthening Nigeria’s power sector and driving long-term economic growth. The Programme, championed by President Bola Ahmed Tinubu, GCFR, is designed to resolve longstanding payment arrears owed to power generation companies, arrears that for over a decade constrained liquidity, weakened balance sheets, and dampened investment across the power value chain as part of the broader reforms of the Power sector. We are profoundly grateful for the strong strategic leadership and collaboration from the Special Adviser to the President on Energy, Mrs Olu Verheijen with support from Nigerian Bulk Electricity Trading (NBET) Plc and the Debt Management Office, under the distinguished leadership of the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, OFR. Their partnership was instrumental to the successful structuring and execution of this transaction. We also extend our appreciation to other government institutions that facilitated enhancement for the Bond Issue. This milestone marks meaningful progress in advancing reforms critical to the long-term stability of Nigeria’s power sector.

Federal Government’s ₦501 Billion Inaugural Tranche Under Power Sector Bond Programme Records 100% Subscription- Lagos, Nigeria The Federal Government of Nigeria has successfully issued a ₦501 billion inaugural bond under the Presidential Power Sector Debt Reduction Programme (PPSDRP), recording 100% subscription from pension funds, banks, asset managers and other investors, and marking a significant step towards resolving legacy debts, restoring liquidity, and strengthening confidence in the Nigerian Electricity Supply Industry (NESI). The Programme, championed by President Bola Ahmed Tinubu, GCFR, is designed to address long-standing payment arrears owed to power generation companies, which for over a decade constrained liquidity, weakened balance sheets and discouraged investment across the power sector value chain. Speaking at the bond issuance signing ceremony in Lagos on 27 January 2026, the Special Adviser to the President on Energy, Olu Arowolo Verheijen, stated that the Programme represents a decisive reset of the electricity market, combining debt resolution with broader financial and structural reforms. The signing follows the successful completion of Series 1 Power Sector Bond Issuance by NBET Finance Company Plc. Series 1 issuance closed at ₦501 billion, comprising ₦300 billion raised from the capital markets and ₦201 billion in bonds allotted to participating power generation companies, reflecting strong investor confidence in the reform agenda. Under the Programme, verified receivables for electricity supplied between February 2015 and March 2025 are being settled through negotiated agreements with power generation companies. To date, five (5) power generation companies representing fourteen power plants nationwide; First Independent Power Limited (FIPL), Geregu Power Plc, Ibom Power Company Limited, Mabon Limited and Niger Delta Power Holding Company Limited (NDPHC) — have executed Settlement Agreements with the Nigerian Bulk Electricity Trading Plc (NBET). The total negotiated settlement amount for these companies stands at ₦827.16 billion, to be paid in four (4) phased instalments. Proceeds from Series 1 issuance will fund the first and second instalment payments to participating power generation companies with signed Settlement Agreements, estimated at ₦421.42 billion, representing approximately 50% of the total negotiated settlement amount. The payment for this initial phase will be made through a mix of cash and notes. Mr. Kola Adesina, Group Managing Director of Sahara Power Group, which owns five power plants, said, “Capital formation can only come when there is confidence, when you can truly see a line of sight in recovering investments previously made. Because we were being owed so much, it was a bit of a problem for us to put in more money. But last year we took the bull by the horns, based on President Bola Ahmed Tinubu’s commitment in resolving the legacy issues, and I can say that once this process is over, construction will commence immediately on the second phase of our Egbin Power Plant. On behalf of the Generation Companies, I’d like to thank the President for this resolution.” By clearing historic arrears, the Programme is expected to improve liquidity for power generation companies, strengthen their ability to meet operating and debt obligations, unlock new investment across the sector and support more reliable electricity supply to homes and businesses. It also reinforces fiscal discipline through validated claims, negotiated settlements and transparent capital market financing. When completed, the Programme will impact 4,483.60MWh/h of electricity generation capacity by Nigerian GenCos, effectively finalizing settlement of payments for 290,644.84GWhr of electricity billed since February 2015 and providing a strong foundation for new investments into capacity enhancement and expansion by companies serving 12.03mn active registered customers across the country. The Special Adviser to the President on Energy recognizes the visionary leadership of President Bola Ahmed Tinubu, as well as the support from the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Honourable Minister of Power, Chief Adebayo Adelabu, in making the PPSDRP a reality. She further acknowledges the support of all members of the Presidential Power Sector Debt Reduction Committee who played vital roles in making this capital raise a success, all key power sector stakeholders as well as government authorities, including the Debt Management Office, Central Bank of Nigeria, the National Pensions Commission, and the Nigerian Revenue Service, who facilitated enhancements for the Bond Issue. CardinalStone Partners Limited, a leading Investment banking firm in Nigeria, led the consortium of appointed professional parties as Lead Financial Adviser and Lead Issuing House to successfully execute the Series 1 Bond Issue, working closely with the Nigerian Bulk Electricity Trading Plc (NBET) that acted as Sponsor on the Transaction, and the Office of the Special Adviser on Energy that led the settlement negotiations and engagements with the Generation Companies. Verheijen, Special Adviser to the President on Energy, said, “The Federal Government reaffirms its commitment to disciplined implementation of the Programme, and we look forward to the participation of other power generation companies, as part of our broader reforms aimed at building a financially sustainable electricity market that is capable of supporting Nigeria’s long-term economic growth.” Media Contact: Communications Team, Office of the Special Adviser to the President on Energy; media@energyreforms.ng

With a proven track record in developing and managing major power assets, Peter Ikenga, Managing Director and CEO of Transcorp Power Plc, joins the panel at the CardinalStone Investors’ Conclave 7.0, offering industry perspectives on scaling power infrastructure and future-proofing Nigeria’s growth ambitions. Date: Thursday, January 29, 2025 Time: 4:00 PM Join the conversation shaping Nigeria’s strategic choices for 2026.

CardinalStone is proud to have led this milestone issuance as Lead Financial Adviser and Lead Issuing House, supporting reforms that strengthen Nigeria’s power sector and long-term economic growth. We commend your strong leadership and the collaboration that ensured successful structuring and execution, and look forward to further issuances under the Programme.

Polo season is officially here! CardinalStone is proud to sponsor the Lagos International Polo Tournament. 🏇 Join us for three weeks of thrilling matches and premium experiences. 📍 Lagos Polo Club, Ikoyi 🗓️ Jan 27 – Feb 15 #CardinalStone #LagosInternationalPolo #PoloSeason