Home Business FMDQ Exchange Approves Providus Bank’s N100bn CP Programme

FMDQ Exchange Approves Providus Bank’s N100bn CP Programme

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FMDQ Securities Exchange Limited (FMDQ Exchange), has approved the registration of Providus Bank’s N100 billion Commercial Paper (CP) Programme on its platform.

The registration of the 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 the 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.

FMDQ Exchange will continue to work collaboratively with market stakeholders to align the debt capital markets with international standards, and will, through 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.

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