FMDQ Okays Wema Bank’s N50bn CP

• FMDQ Okays Wema Bank’s N50bn CP

The FMDQ OTC Securities Exchange has welcomed the N50bn commercial paper programme registration of Wema Bank Plc to its platform.

The CP programme registration strategically positions Wema Bank to quickly raise short-term finance from the debt market at a time in the future it determines suitable, through the CP issues, within the CP programme limit.

FMDQ said it had continued to maintain its support for the development of the Nigerian debt capital markets by steadfastly availing its platform for the registration, listing, quotation and trading of debt securities.

In this respect, the FMDQ is set to host the 2017 Nigerian Debt Capital Markets Conference on September 28, 2017, to yet again avail local and international market participants a platform to discuss and strategise on actionable steps to effectively position the Nigerian DCM for growth within the global financial markets space.

Wema Bank recently said it was looking at adding new 350,000 accounts by leveraging its ALAT platform.