Providus Bank lists N100bn Commercial Paper on FMDQ

FMDQ Securities Exchange Ltd has approved the registration of the Providus Bank N100 billion Commercial Paper (CP) programme on its platform.

This is contained in a statement made available to journalists on Thursday in Lagos.

It said that the registration was approved by its Board Listings and Markets Committee.

The statement said that the CP programme would strategically position Providus Bank to raise short-term finance from the Nigerian Debt Capital Market easily.

Providus Bank is 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 this CP programme, sponsored by Greenwich Merchant Bank Ltd., validates the Exchange’s conscious drive to support the capital market needs of corporate and governments and to further deepen the Nigerian financial markets, and the nation’s economy.

“FMDQ Exchange will continue to work collaboratively with market stakeholders to align the debt capital markets with international standards,” said the statement.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities.