Mandatory Registration and Quotation of Commercial Papers

Proshare

Wednesday, July 13, 2016 8:49 AM /CBN

Further to the Guidelines on the Issuance and Treatment of Bankers Acceptances (BAs) and Commercial Papers (CPs) issued by the Central Bank of Nigeria (CBN) on November 18, 2009, banks are hereby informed that they are only permitted to deal in CPs that are registered on authorized Exchanges with effect from July 11, 2016.

Accordingly, banks are prohibited from transacting in CPs, in any capacity whatsoever, including but not limited to as issuer; Guarantor; Issuing, Placing, Paying and Collecting Agent (“IPPCA”), Collecting and Paying Agents (“CPA”); etc., from effective date.

The CBN having approved the quotation rules of FMDQ OTC Securities Exchange has cleared it for the quotation of CPs in Nigeria, Deposit Money Banks and Discount Houses would be updated on subsequent clearance of additional Exchanges from time to time. 



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