Stanbic IBTC launches N20bn CP programme on FMDQ


THE Board Listings, Markets and Technology Committee of the FMDQ OTC Securities Exchange has approved the registration of the N20 billion Commercial Paper, CP, programme of Stanbic IBTC Holdings Plc on its platform.

FMDQ, yesterday stated: “With a streamlined and efficient registration process, FMDQ, avails a commendable quotations service which offers among others, credibility for quoted CPs and global visibility via the Quotations Page on the FMDQ website and the FMDQ-Bloomberg Trading & Surveillance System (E-Bond).”

Also, FMDQ publishes the Quoted CPs Status Report, which provides up to date information and the status of all CPs quoted on FMDQ’s platform. “By playing host to several CP quotations, FMDQ, provides the much-needed visibility, confidence and protection to issuers, investors, market regulators, among others, whose direct and indirect activities play an important role in developing the nation’s economy,” the Exchange said in the statement.

Having joined other top rated institutions that have their CP programmes registered on the OTC Exchange, the timely and efficient registration of the Stanbic IBTC Holdings CP Programme is a validation of FMDQ’s mandate to be operationally excellent, towards the transformation of the Nigerian debt capital market, FMDQ added.

Source: Vanguard