FMDQ Securities Exchange Limited, in demonstration of its operational excellence, has processed and approved the registration of the Union Bank of Nigeria Plc N100.00 billion Commercial Paper programme on the Exchange platform in September 2022.
This registration would bring the total number of securities admitted on the FMDQ Exchange to 110 with a total market value of N3.36 trillion.
Union Bank of Nigeria Plc is one of Nigeria’s long-standing banking institutions that offer a portfolio of banking services to individuals, small and medium-scale enterprises, and commercial and corporate clients. The registration of this CP Programme, which is sponsored by UCML Capital Limited, Standard Chartered Capital & Advisory Nigeria Limited and Renaissance Securities (Nigeria) Limited – all Registration Members of FMDQ Exchange, tactically positions Union Bank to raise short-term finance from the Nigerian debt markets easily and quickly at a time in the future it determines suitable, through CP issues, within the CP Programme limit.
In support of its mandate to deepen the Nigerian financial markets, FMDQ Exchange will continue to support the efficient allocation of capital by providing a credible platform for capital formation and effective intermediation toward fostering economic growth and development. The Exchange will continue to fulfil its market development, organiser, and governance mandates, by providing a cost-effective, efficient, well-regulated, transparent, and trusted platform where the raising and transfer of capital can take place, whilst adding value to its diverse stakeholder groups.