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FMDQ Exchange welcomes FCMB N30bn Series 1 Commercial Paper on its platform

FCMB Group’s 2022 profit surges 61% to N36.6bn

The Nigerian Commercial Paper (CP) market continues to provide corporate businesses across the various sectors of the Nigerian economy, an avenue for generating short-term funding to meet their needs. Following due diligence process,

FMDQ Securities Exchange Limited has approved the quotation of the First City Monument Bank Limited (FCMB) N30 billion Series 1 Commercial Paper (CP) under its N100billion CP Issuance Programme on its platform.

First City Monument Bank Limited (FCMB) is a full-service banking institution and a member of FCMB Group PLC, that provides a wide range of personal banking, business banking and corporate banking services with market-proven solutions that drive digital transformation in the banking industry.

The proceeds from this CP, which is sponsored by FCMB Capital markets Limited – a Registration Member (Quotations) of FMDQ Exchange, will be used by FCMB to support its short-term financing requirements.

Read also: FMDQ Exchange admits debut GPC-SPV Company bond on its platform

As part of its commitment to organise and facilitate credibility and transparency in the Nigerian debt capital market (DCM) space, FMDQ Exchange shall continue to drive initiatives that are targeted at improving liquidity of securities listed and quoted on its platform, thereby supporting the aspirations of businesses.

The Exchange will remain unyielding in its support for the development of the Nigerian DCM through its highly efficient platform for the registration, listing, quotation and trading of securities, thereby providing access to capital.

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.