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Market confidence to rise on Sterling Bank Plc’s N100bn commercial paper

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Signals have emerged that the recent registration of the Sterling Bank Plc’s N100bn commercial paper programme will boost confidence in the Nigerian financial market.

This analysis was dropped by the FMDQ OTC Securities Exchange.

It would be recalled that the CP, which was signed on the FMDQ platform, came barely after the listing of the Wema Funding SPV Bond.

The development also followed the due approval of the FMDQ Board Listings, Markets and Technology Committee and served to further grow confidence in the Nigerian financial market, given the current economic climate, the FMDQ said in a statement.

A statement from the group also noted that “An FMDQ quotations service avails, among others, credibility for quoted CPs and global visibility via the FMDQ website and the FMDQ Bloomberg Trading System (E-Bond).”

Having successfully commenced and developed its listings and quotations process, FMDQ said it had contributed to the growth and competitiveness of the Nigerian fixed income market.

The statement said “The timely and efficient registration of the Sterling Bank CP programme is a validation of one of the core mandates of FMDQ towards revolutionising the Nigerian debt capital market.”


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