FCMB to raise N30bn through Commercial Paper Programme

Adebayo Obajemu

FCMB Group Plc has notified the Nigerian Stock Exchange and its shareholders that one of its subsidiaries, First City Monument Bank Limited (the Bank) is undertaking a Commercial Paper Issuance (“CP”) 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 shortterm funding needs. The Commercial Paper serves as an additional funding source for the Bank