CardinalStone Partners Limited has been named winner of the Debt Deal of the Year at the 20th African Banker Awards 2026, following its advisory role in the successful ₦501.021 billion Nigerian Bulk Electricity Trading (NBET) power sector bond issuance backed by the Federal Government of Nigeria.
The recognition highlights the firm’s leadership in structuring and executing one of the largest domestic capital market transactions in Nigeria’s electricity sector, delivered under the Presidential Power Sector Debt Reduction Programme aimed at improving financial stability within the power industry.
The award-winning transaction formed the first tranche of a broader ₦4 trillion Power Sector Multi-Instrument Issuance Programme and was fully subscribed by both institutional and retail investors, reflecting strong market confidence in the structure and government backing of the instrument. According to Brandspur Banking News Desk, the deal represents a significant milestone in Nigeria’s efforts to strengthen capital market financing for infrastructure development.
The seven-year bond, guaranteed by the Federal Government, was designed to address liquidity challenges across the electricity value chain while supporting long-term reforms in the sector. Market participation was driven by confidence in the credit quality of the issuance and its potential to improve operational efficiency within the power ecosystem.
The African Banker Awards, held annually alongside the African Development Bank meetings, recognises leading financial institutions and transactions across the continent based on innovation, execution strength and measurable economic impact. The Debt Deal of the Year category specifically honours transactions that demonstrate structural excellence and market significance.
CardinalStone served as lead financial adviser and issuing house for the transaction, providing end-to-end advisory support including structuring, regulatory coordination, investor engagement and execution management. The firm’s involvement was central to ensuring successful market delivery of the large-scale issuance.
The award further reinforces CardinalStone’s position in Nigeria’s financial services industry, where it has built a strong track record in capital markets and advisory services across multiple sectors. The firm has participated in several landmark transactions and continues to play a key role in deepening Nigeria’s debt and equity markets.
Industry stakeholders involved in the transaction, including government agencies and financial regulators, were acknowledged for their role in supporting the successful completion of the bond programme, which is expected to contribute to broader reforms in Nigeria’s power sector financing framework.
The recognition at the African Banker Awards adds to CardinalStone’s growing list of industry achievements and reflects increasing investor appetite for structured debt instruments linked to critical infrastructure development in Nigeria and across Africa.
