CitiTrust Holdings registers N50b CP in FMDQ Exchange market


FMDQ has announced the registration of CitiTrust Holdings Plc’s ₦50 billion Commercial Paper (CP) programme in its platform.

It explained that the successful registration of the CP programme on the exchange in August 2022, following approval of the Board Listings and Markets Committee, affirmed the highly efficient time-to-market and uniquely tailored securities admission service offered by the FMDQ Exchange.

“This significant milestone for CitiTrust Holdings PLC (CitiTrust Holdings or the Company), a leading Pan-African financial and investment conglomerate in Nigeria, has seen it join other corporate institutions in various sectors of the economy, enjoying the benefits of visibility, transparency and liquidity for issuers and issues that come with the FMDQ Exchange Quotations Service.

“Registration of the CP programme, which is sponsored by Boston Advisory Limited-a Registration Member (Quotations) of the Exchange-strategically positions CitiTrust Holdings to raise short-term finance easily and quickly from the Nigerian debt markets,” FMDQ stated.

“By the registration of its CP programme and quotation of subsequent CPs from the programme on the FMDQ Exchange, the company will leverage exceptional benefits, including, but are not limited to unrivalled and efficient platform for access to capital, enhanced investor confidence, continuous disclosure of information to protect investors’ interest, effective price formation and increased global visibility,” it added.

NIS cautions against patronising touts, urges direct dealings with immigration officers

The Nigeria Immigration Service (NIS) has cautioned Nigerians against patronising touts and urged those wishing to process their passports and
other travel documents to deal with only certified immigration officers to avoid being swindled.

Comptroller of the Seme Command of NIS, Mike Chukwuemeka Dike, gave the charge while speaking with journalists and commended the Acting Comptroller General, Isa Jere Idris for the approval, posting and redeployment of no fewer than 69 senior officers to various zones and commands across the country.

He urged the deployed officers to continue to avail the service of their rich experience in their new commands and formations to improve service delivery and enhance national security. Dike, who also benefited from the recent posting from the Border Patrol Command Lagos to the Seme Command, said members of the society should stop patronising touts and relate directly with immigration officers to ensure efficient service delivery.

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According to Dike the Comptroller General of immigration has assured international travelers using the area of hitch-free movement across the border post, maintaining that the mandate was in line with the Comptroller General’s three-point agenda, part of which is to ensure hitch-free movement of travelers in and out of Nigeria.

He, however, warned that while the command was determined to make things easy for travelers in the course of their businesses, it would not compromise on perfect documentation, insisting that travelers should always transact their businesses with officers of the command rather than dealing with touts, who usually lurk around the NIS offices.

“I assure travelers using the Seme Border of free movement in and out of the country. This is why they should be dealing with our officers rather than patronising touts,” he said, stressing that in terms of movement of people across the border, the NIS remained the lead agency,
whose personnel were well trained to handle people on transit.

“That was why the system ensured that immigration officers should first receive visitors on arrival and be the last to see them off on departure. It was this aspect of the service’s job that could encourage or jeopardise the inflow of Foreign Direct Investments (FDIs) into the country.

“For an investor, who is bringing in his money into the country and who experiences poor treatment would never come again. When such happens, the country loses massively. That is why our role is critical not only for security, but also for the economic development of the country,” he stated.

Dike disclosed that the Comptroller General was making efforts to ensure that e-passports come into existence in a bid to achieve seamless operations, adding that border security remained a priority with the intention of eliminating smuggling of small arms into the country.

He, therefore, charged the media to join hands with the service to achieve the objectives for which it was set and solicited the cooperation of the media and journalists’ understanding, while urging them to avail the command of valuable information that would facilitate its job.

He stressed that the role of journalists in national development could not be over-emphasised, adding that they were immigration officers by default because of their job, which was similar to that of the service. On his part, Comptroller Shittu Olajire Fatai, responsible for Border Patrol Command Lagos, expressed the desire for continued cordial relationship with the media and urged journalists to verify their facts and figures before publication and that the NIS remained the gatekeeper of the country’s entry points.

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