The FMDQ OTC Securities Exchange has approved the registration and listing of Wema Bank’s N50 billion Commercial Paper (CP) programme on its platform.
The CP Programme registration, according to the Exchange, strategically positions Wema Bank Plc to easily and quickly raise short-term finance from the debt market at a time in the future it determines suitable, through CP issues, within the CP Programme limit.
FMDQ said in a statement that it has continued to maintain its support for the development of the Nigerian debt capital markets by steadfastly availing its efficient platform for the registration, listing, quotation and trading of debt securities. Meanwhile, the Exchange has said that the stage is set for the 2017 Nigerian Debt Capital Markets Conference, which is slated to hold on September 28, 2017. The Exchange explained that the conference is in line with its strategic objectives to support institutional growth and also stimulate continuous development of the Nigerian economy. It added that the conference would avail local and international market participants a well-rounded platform to discuss and strategise on actionable steps to effectively position the debt capital market for growth within the global financial markets space.
FMDQ has shown its steadfastness in aligning the Nigerian financial markets to international standards, and has, through the promotion of product innovation and the championing of key market development initiatives, continued to ensure that opportunities abound for the markets under its purview, the Exchange stated.