FCMB suspends issuance of N30bn commercial paper

FCMB Group Plc announced on Monday that the proposed issuance of commercial paper of up to N30 billion 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,” it said in a notice obtained by Markets Reporters from the Nigerian Stock Exchange.