The registration of the Sterling Bank
Plc’s N100bn commercial paper programme will boost confidence in the
Nigerian financial market, according to FMDQ OTC Securities Exchange.
The CP, which was signed on the FMDQ platform, came barely after the listing of the Wema Funding SPV Bond.
This registration followed the due
approval of the FMDQ Board Listings, Markets and Technology Committee
and served to further instil confidence in the Nigerian financial
market, given the current economic climate, the FMDQ said in a
statement.
The statement added, “An FMDQ quotations
service avails, among others, credibility for quoted CPs and global
visibility via the FMDQ website and the FMDQBloomberg Trading System
(E-Bond).”
Having successfully commenced and
developed its listings and quotations process, FMDQ said it had
contributed to the growth and competitiveness of the Nigerian fixed
income market.
The firm added, “The timely and
efficient registration of the Sterling Bank CP programme is a validation
of one of the core mandates of FMDQ towards revolutionising the
Nigerian debt capital market.”
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