In line with its commitment to deepening Nigeria’s debt markets and supporting broader economic growth, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) is pleased to announce the quotation of Providus Bank Limited’s ₦16.33 billion Series 1 and ₦83.67 billion Series 2 Commercial Papers (CPs) under its ₦100.00 billion CP Issuance Programme on its platform.
Providus Bank Limited (“Providus Bank” or the “Issuer”) is a dynamic Nigerian financial institution, recognised for delivering innovative, tech-driven banking solutions tailored to businesses and high-net-worth individuals. Its services span corporate banking, personal banking, digital services, and investment advisory, all aimed at improving financial inclusion, fostering enterprise growth, and promoting wealth creation across Nigeria’s economy. These CPs, sponsored by Greenwich Merchant Bank Limited (Lead Sponsor) and co-sponsored by AVA Capital Partners Limited, Cordros Capital Limited, LeadCapital PLC, PAC Capital Limited, Planet Capital Limited, Rand Merchant Bank Nigeria Limited, Renaissance Securities (Nigeria) Limited, and Vetiva Advisory Services Limited—all Registration Member (Quotations) of the Exchange – enables the Issuer to access flexible short-term funding from the Nigerian debt market to support its operational and liquidity needs.
The timely admission of these CPs, along with other securities on FMDQ Exchange, demonstrates the effectiveness of the Exchange’s Securities Admission Service. Like all other securities listed and quoted on the Exchange’s platform, these CPs will benefit from global visibility via the Exchange’s website and systems, transparency through inclusion in the FMDQ Daily Quotations List, governance and continuous information disclosure to protect investors’ interests, credible price formation, among other benefits.
FMDQ Group PLC is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading platform, clearing & central counterparty, and settlement services for financial markets transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group PLC, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.