FMDQ Exchange welcomes Providus Bank N100bn Commercial Paper programme on its platform

As the leading organiser for the Nigerian debt capital market (DCM), FMDQ Securities Exchange Limited through its Board Listings and Markets Committee, has approved the registration of the Providus Bank Limited (Providus Bank) N100billion Commercial Paper (CP) Programme on its platform.

The registration of this CP Programme strategically positions Providus Bank Limited to raise short-term finance from the Nigerian DCM easily, through CP issues within its CP Programme and quote same on FMDQ Exchange for visibility of the issue and desired transparency for the investors.

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 Limited – a Registration Member (Quotations) of FMDQ Exchange, validates the Exchange’s conscious drive to support the capital market needs of corporates and governments and to further deepen the Nigerian financial markets, and ultimately, the nation’s economy.

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FMDQ Exchange will continue to work collaboratively with market stakeholders to align the debt capital markets with international standards, and will, through f product and service innovation and the championing of key market development initiatives, take commendable steps to ensure that growth and development opportunities abound for the markets under its purview.

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, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly-owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.

As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.

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Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.