By Grateful Ogunjebe
FMDQ Securities Exchange Limited has announced the approval and quotation of Providus Bank Limited’s ₦100 billion Commercial Paper (CP) Issuance Programme, with ₦16.33 billion series 1 and ₦83.67 billion series 2 CPs admitted to its platform.
The successful admission was disclosed by FMDQ Group during the week in a post shared via its official handle.
The quotations signal another milestone in the bank’s effort to deepen its access to short-term funding via Nigeria’s debt capital market.
“FMDQ Exchange is pleased to announce the approval for the quotation of Providus Bank Limited ₦16.33bn Series 1 and ₦83.67bn Series 2 CPs under its ₦100.00bn CP Issuance Programme on its platform,” the post read.
The commercial papers were listed under the Exchange’s streamlined CP programme, which provides corporate issuers like Providus Bank with efficient, transparent, and cost-effective access to capital, while offering institutional investors credible investment opportunities.
The quotation of the two series brings to life the first offerings under Providus Bank’s ₦100 billion programme, which had earlier been registered with FMDQ in line with its regulatory requirements.
Market analysts view the listing as a step in the right direction for the mid-sized bank, enhancing its liquidity position and investor confidence.
FMDQ continues to play a leading role in the development of the Nigerian debt capital market by facilitating the registration, listing, and quotation of securities such as bonds and CPs.
The Exchange remains committed to supporting issuers and ensuring market integrity through full disclosure and robust governance structures.
Providus Bank, a private commercial bank licensed by the Central Bank of Nigeria (CBN), has in recent years ramped up efforts to diversify its funding sources, and this CP quotation underscores its growing presence in the capital market.
The quotation was approved in July 2025 and has since been made available on the Exchange’s platform.