FCMB Suspends Proposed N30Bn Commercial Paper Issuance

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

FCMB Group Plc (FCMB) hereby notifies the Nigerian Stock Exchange (NSE) and its esteemed shareholders that the proposed Commercial Paper Issuance by one of its subsidiaries, First City Monument Bank Limited has been suspended.

This is as a result of the Nigerian Treasury Bills auction of Wednesday, 9 December 2020, which distorted price discovery.

The proposed Commercial Paper Issuance is under its N100 billion-naira CP programme. The CP has a tenor of 260 days with the aim of raising up to N30 billion to support the Bank’s short-term funding needs.

First City Monument Bank (FCMB) Ltd is a banking group, headquartered in Lagos. As of December 2019, the bank’s total assets were valued at US$4.4 billion (NGN: 1.7 trillion).

FCMB Suspends Proposed N30Bn Commercial Paper Issuance Brandspurng

- Advertisement -
FCMB Suspends Proposed N30Bn Commercial Paper Issuance - Brand SpurFCMB Suspends Proposed N30Bn Commercial Paper Issuance - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

FCMB Suspends Proposed N30Bn Commercial Paper Issuance - Brand SpurFCMB Suspends Proposed N30Bn Commercial Paper Issuance - Brand Spur

Latest News

5 Ways Your Data Could Be Hurting Customer Retention

According to a now-classic article in the Harvard Business ReviewExternal Website. Opens New Window, depending on the study and...

Okomu Oil Palm Generated N20.50bn Revenue…PAT up by 46.28%

Okomu Oil Palm Company PLC 2020 year-end financials show a significant 24.08% revenue growth when compared to the full year 2019 turnover. This was...

Flour Mills of Nigeria continues its strong performance with Q3 results ahead of the first two quarters and solid growth in all segments

January 26, 2021 - Flour Mills of Nigeria Plc, Nigeria’s leading integrated food business and agro-allied group, owners of the iconic food brand -...

Nearly 60% of Global Bank Rating Outlooks Are Still Negative

Fitch Ratings - 26 January 2021: A newly-updated interactive country-by-country map of bank rating trends from Fitch Ratings shows that nearly 60% of bank...

MPC Leaves All Rates Unchanged

At the end of the two-day bi-monthly MPC meeting, all policy levers were maintained following a unanimous vote of all members of the committee. ...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -FCMB Suspends Proposed N30Bn Commercial Paper Issuance - Brand SpurFCMB Suspends Proposed N30Bn Commercial Paper Issuance - Brand Spur