FMDQ Welcomes Providus Bank ₦100bn Commercial Paper
FMDQ Exchange has accepted Providus Bank Limited N100 billion commercial paper on the platform, according to a statement issued on Friday. According to the statement, FMDQ Securities Exchange said through its Board Listings and Markets Committee, approved the registration of the Tier-3 lender’s commercial paper programme.
It said the registration strategically positions Providus Bank to raise short-term finance from the Nigerian debt capital market easily. Providus Bank, a Nigerian financial services provider, licenced as a commercial bank to provide banking, investment and wealth management services to individuals and businesses.
The registration of the commercial paper programme, sponsored by Greenwich Merchant Bank Limited validates the Exchange’s conscious drive to support the capital market needs of corporates and governments and to further deepen the Nigerian financial markets, according to the statement.
FMDQ Exchange said it will continue to work collaboratively with market stakeholders to align the debt capital markets with international standards.
The Exchange affirmed a plan to continue to champion key market development initiatives, taking commendable steps to ensure that growth and development opportunities abound for the markets under its purview. #FMDQ Welcomes Providus Bank ₦100bn Commercial Paper
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