Commercial Paper’s Total Market Value Hits N3.36trn

The total market value of 110 Commercial Paper(CP) admitted on FMDQ Securities Exchange Limited has risen to N3.36trillion, even as it has approved the registration of the Union Bank of Nigeria Plc’s N100 billion CP Programme on its platform.

FMDQ said, the registration of this Union Bank CP Programme, which is sponsored by UCML Capital Limited, Standard Chartered Capital & Advisory Nigeria Limited and Renaissance Securities (Nigeria) Limited, tactically positions Union Bank to raise short-term finance from the Nigerian debt markets easily and quickly at a time in the future it determines suitable, through CP issues, within the CP Programme limit.

According to the Exchange, in support of its mandate to deepen the Nigerian financial markets, FMDQ Exchange will continue to support the efficient allocation of capital by providing a credible platform for capital formation and effective intermediation towards fostering economic growth and development.

“The Exchange will continue to fulfil its market development, organiser, and governance mandates, by providing a cost-effective, efficient, well-regulated, transparent, and trusted platform where the raising and transfer of capital can take place, whilst adding value to its diverse stakeholder groups.”