TEMPLARS has advised Fiducia Data Services Limited in connection with the launch of a first-of-its-kind supply chain financing platform in Nigeria.

Fiducia is a technology-based platform that enables SMEs to access supply chain financing through the assignment of their trade receivables to banks and other financial institutions active on the Fiducia platform. 

Fiducia will serve as a digital marketplace for the financing and trading of invoices, bringing together corporate buyers, suppliers, and financiers. Leveraging on technology and credit data, the platform will provide access to much-needed short-term working capital for SMEs whilst providing a simplified route for financiers to meet that gap in the market.   

The groundbreaking legal work on the Fiducia project was undertaken by a Legal Working Group comprising Templars and two other leading law firms. Working alongside Fiducia and other professional advisors, the Legal Working Group undertook a comparative review of various other markets alongside the Nigerian legal framework, the results of which informed our advice on project structuring from inception to operationalization of the platform. 

The Templars team was led by Finance Partner Zelda Akindele with support from Managing Partner Oghogho Akpata and Finance Practice Group Head Chike Obianwu along with Associates Victor Sameria, Okabonye Chukwuani, Omowonuola Adekanmbi and Chiamaka Nwangwu

Speaking after the formal launch of the Fiducia platform on 1 June 2023, Managing Partner Oghogho Akpata stated that: 

“Our role as legal advisor to Fiducia Data Services Limited is testament to our long-standing reputation advising on complex and innovative transactions across multiple segments of the financial services ecosystem. We are delighted to have worked with Fiducia and its sponsors over the last few years from ideation to launch on this marketdefining project which is set to revolutionize SME funding and unlock the over 12 trillion Naira supply chain financing sector of the Nigerian economy.”