BY JOHNMARK UKOKO
Coming shortly on the heels of the recent registration of the Providus Bank Limited N10 billion Commercial Paper (CP) programme on its platform, FMDQ Securities Exchange Limited has listed Nova Merchant Bank N50 billion commercial paper (CP) programme on its platform
Following the due diligence of its Board, FMDQ Exchange Listings and Markets Committee approved the registration of the NOVA Merchant Bank Limited.
Nova Merchant Bank will benefit by gaining access to a wide range of knowledge and capitalised investors with the registration of its CP programme and subsequent quotation of CP notes on the FMDQ Exchange.
It will be recalled that Nova Merchant Bank provides end-to-end financial services solutions covering corporate banking, investment banking, advisory, capital markets, as well as wealth and assets management.
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The registration of the CP programme, which is co-sponsored by EAC Advisory Limited, FSDH Capital Limited, United Capital Plc and Renaissance Securities Nigeria Limited and others.
Managing Director and Chief Executive Officer of the company, Math Use, said: “The successful listing of our N50 billion CP programme on the FNDQ platform further gives credence to our efforts.
“Nova Merchant Bank’s belief in the Nigerian debt capital markets will put the bank in a position to broaden its potential funding sources and create supervisor value in the finance market it serves.
“This comes after the successful listing of our N10 billion nods of FNDQ Exchange, which was oversubscribed by 300 per cent last year. We remain driven by our aspiration to transform the African Financial services landscape with fresh thinking and innovative solutions.”
