By Nkiruka Nnorom

FMDQ OTC Securities Exchange has approved the listing of Rand Merchant Bank’s N80 billion Commercial Paper, CP, programme on its platform.

FMDQ said in a statement that the CP Programme registration has positioned Rand Merchant Bank to easily and quickly raise short-term finance from the debt market at a time in the future it determines suitable, through CP issues and within the current CP Programme limit.

According to the Exchange, the listing of the CP would serve to further boost confidence in the possibilities of the Nigerian financial market.

In line with its strategic objectives to support institutional growth and stimulate the continuous development of the economy at large, FMDQ has shown its steadfastness in realising these objectives through the promotion of product innovation and the championing of key market development initiatives in order to ensure that opportunities abound for the markets under its purview.

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