FMDQ Exchange Lists N154b Commercial Papers, Mutual Funds

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Veritasi Homes & Properties Limited Taps The Commercial Paper Market
Veritasi Homes & Properties Limited Taps The Commercial Paper Market

The FMDQ Securities Exchange has listed two commercial papers and four mutual funds worth approximately N154 billion, expanding the number of tradable instruments in the Nigerian capital market.

Providus Bank issued N100 billion in commercial paper (CP), NOVA Merchant Bank issued N50 billion in CP, and Emerging Africa Asset Management Limited issued N2.5 billion in mutual funds and a $2 million Eurobond fund (EAAML).

Providus Bank is a commercial bank licensed to provide banking, investment, and wealth management services to individuals and businesses.

NOVA Merchant Bank offers corporate banking, investment banking, advisory, capital markets, and wealth and asset management.

The FMDQ Securities Exchange has listed two commercial papers and four mutual funds worth N154 billion, increasing the number of tradable instruments in the Nigerian capital market.

Providus Bank issued N100 billion in commercial paper (CP), NOVA Merchant Bank issued N50 billion in commercial paper (CP), and Emerging Africa Asset Management Limited issued N2.5 billion in mutual funds and a $2 million Eurobond fund (EAAML).

Providus Bank is a commercial bank that offers banking, investment, and wealth management services to both individuals and businesses.

Corporate banking, investment banking, advisory, capital markets, and wealth and asset management are all services provided by NOVA Merchant Bank.

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EAAML is a subsidiary of the Emerging Africa Group, which offers portfolio management services to both individual and institutional investors worldwide.

Ms. Ada Ijara, Managing Director of Emerging Africa Asset Management Limited (EAAML), stated that the listing would provide the funds with the desired visibility and transparency provided by the platform.