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JenneteUgo Anya
- December 4, 2024
PenCom Lifts Ban On PFAs Investment In Commercial Papers
The National Pension Commission (PenCom) has officially lifted its ban on Pension Fund Administrators (PFAs) investing in commercial papers, a move expected to significantly enhance Nigeria’s financial markets and offer PFAs more opportunities for portfolio diversification. The suspension, originally imposed in 2020 due to concerns about risk management practices and regulatory compliance in the issuance […]
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- November 7, 2024
MTN Nigeria Seeks N50bn In Debt Market To Cover Funding Gap
MTN Nigeria, the largest wireless operator on the continent, has revealed its plans to raise N50 billion in commercial paper to support its short-term working capital needs. This move marks MTN Nigeria’s first return to the debt market this year, following four commercial paper issues last year, which raised a total of N375 billion. In […]
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- October 29, 2024
PenCom Suspends All Pension Fund Investments In Commercial Papers
The National Pension Commission (PenCom) has mandated that Licensed Pension Fund Administrators (LPFAs) and Custodian Funds halt all investments in commercial papers managed by non-banking capital market operators. This directive was issued in a recent circular (Reference: PENCOM/TECH/ISD/2024/402) dated October 23, 2024, signed by A.M. Saleem, Head of PenCom’s Surveillance Department, and addressed to the […]
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- July 22, 2024
Nigerian Firms Raise N583.86bn Via Commercial Papers
In the first half of the year 2024, 31 companies have collectively raised N583.86 billion through the issuance of Commercial Paper (CP) to bolster their working capital needs. CP is a widely-used unsecured, short-term debt instrument, typically utilised by corporations to finance payroll, accounts payable, inventories, and other short-term liabilities. The maturity period for CP […]
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