The Nigerian Exchange Limited (NGX) has unveiled a new platform for Commercial Paper (CP) listings, following approval from the Securities and Exchange Commission (SEC), marking a significant step in deepening Nigeria’s short-term debt market.
Announcing the development on Wednesday, NGX said the new listing window positions the bourse as a fully integrated market, offering equities, fixed income, exchange-traded funds (ETFs), derivatives, and now short-term debt instruments.
Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group, hailed the initiative as a pivotal move toward establishing NGX as a comprehensive capital markets infrastructure that supports capital formation across Africa.
“The introduction of Commercial Paper listings is a pivotal step in our strategy to position NGX as a comprehensive capital-markets infrastructure that accelerates capital formation across Africa,” Popoola said. “As we continue strengthening the foundations of a transparent, technology-driven, and inclusive marketplace, our focus remains on building a system that supports sustainable growth, enhances market resilience, and unlocks new opportunities for the broader economy.”
Commercial papers are short-term, unsecured debt instruments issued by corporates to finance working capital needs and other short-term obligations. Typically maturing within 270 days, CPs are issued at a discount and redeemed at face value, providing companies with a cost-effective alternative to bank loans while offering investors attractive short-term returns.
Jude Chiemeka, CEO of the Nigerian Exchange Limited, emphasized that the platform represents a major milestone in NGX’s effort to provide a full spectrum of capital-raising solutions.
“This platform enhances transparency in the debt market and supports corporates seeking efficient access to funding outside traditional banking channels, while offering investors credible short-term investment options,” Chiemeka said. “NGX will continue to engage with corporates, intermediaries, and investors to deepen liquidity and participation in Nigeria’s debt capital market.”
Olufemi Shobanjo, CEO of NGX Regulation Limited, underlined that robust oversight would remain central to the platform’s operation.
“Our priority is to maintain high standards of disclosure, promote accountability, and safeguard investor confidence while contributing to market deepening,” Shobanjo said.
The new offering allows corporates and issuers to list and trade both conventional and non-interest commercial papers directly on NGX, expanding opportunities for funding and investment in Nigeria’s evolving financial market.