FMDQ approves registration of Wema Bank’s ₦50bn Commercial Paper Programme

FMDQ OTC Securities Exchange (FMDQ has approved the registration of the ₦50.00 billion Commercial Paper (CP) programme of Wema Bank PLC to its platform.
According to FMDQ OTC, the CP programme registration 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 it has continued to maintain its support for the development of the Nigerian debt capital markets (DCM) by steadfastly availing its efficient platform for the registration, listing, quotation and trading of debt securities.
It said further: “In line with the strategic objectives of the OTC Exchange to support institutional growth and stimulate continuous development of the Nigerian economy at large, FMDQ is set to host the 2017 Nigerian Debt Capital Markets Conference on September 28, 2017”.
This, it said, is to avail local and international market participants a well-rounded platform to discuss and strategise on actionable steps to effectively position the Nigerian DCM 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”. It said.