By Peter Egwuatu

As part of its commitment to boost liquidity, transparency and develop Over the Counter OTC market, FMDQ OTC Plc, yesterday recorded another milestone  with  the listing of N7.6 trillion debt instruments in the country.

The debt instruments consist of N4.8 trillion Federal Government of Nigeria (FGN) Bonds and the quotation of N2.8 billion Nigerian Treasury Bills, both outstanding as at July 13, 2015 on the OTC platform. The dual listing is coming after the listings of the N30.5billion UBA Bond and N15.54billion Stanbic IBTC Bond recently on the OTC securities exchange.

Speaking during the listing ceremony, Director General, Debt Management Office, DMO, Dr. Abraham Nwankwo said “It is expected that FMDQ will continue to provide a robust and credible OTC Platform for the listed FGN securities to the public; to continuously work to improve market transparency and price discovery;  monitor the activities of dealers to ensure accountability; and  publish relevant market data and information as and when due to guide investors in their investment decisions.

Appreciating the efforts of the various market participants and stakeholders, Mr. Bola Onadele. Koko, MD/CEO at FMDQ noted that this was yet another feat for FMDQ, and re-iterated the commitment of the OTC securities exchange to be innovative and credible, in support of the Nigerian economy.

According to Onadele  “In providing an efficient platform for the registration, listing, quotation and valuation of debt securities, FMDQ has significantly improved transparency, integrating the domestic and international markets through enhanced trade visibility, improved market surveillance, global presence and competitiveness, enhanced secondary market liquidity and effective price formation.”

He added that by listing, quoting and trading the FGN Bonds and Nigeria T.Bills on FMDQ’s Platform, the first of its kind in the nation, the securities gain access to the full complement of an FMDQ listings and quotations service; which includes but not limited to the global visibility through their inclusion on the FMDQ Bloomberg E-bond trading system and on the quotations page of the FMDQ website.

Also speaking at the Ceremony following the receipt of the FMDQ bespoke Registration Member listing & quotation paraphernalia, Mr. Balogun, CEO of the Listings & Quotations Sponsor said “Chapel Hill Denham is privileged to be the Listings & Quotations Sponsor of the Federal Government of Nigeria’s return to listing & quoting on domestic capital markets, through the FMDQ.

“This listing & quotation will bring greater transparency and liquidity to the Government market and is ultimately beneficial to the Federal Government of Nigeria, in pricing future issuances”.