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    Tinubu signs Electricity Act of 2023; States to generate, transmit and distribute electricity

    October 1, 2023: President Tinubu’s full speech on Independence Day

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

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    Senate confirms nomination of Yemi Cardoso as CBN Governor along with four Deputies

    Senate confirms nomination of Yemi Cardoso as CBN Governor along with four Deputies

    NLC, TUC declare nationwide indefinite strike

    NLC, TUC declare nationwide indefinite strike

    Nigeria declares Wednesday public holiday to celebrate Eid-ul-Maulid

    Nigeria declares Wednesday public holiday to celebrate Eid-ul-Maulid

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Headline Inflation in Nigeria rose to 22.04% in March

    Food prices continue to soar in Nigeria as inflation hits 25.80%

    NERC hikes electricity meter price by 40%

    NERC hikes electricity meter price by 40%

    NNPC says no plan to increase petrol price in March

    Nigeria’s daily petrol consumption dropped by 16.8% in July – report

    Student Loan Act: How to apply for the loan, all you need to know

    Tinubu establishes presidential CNG initiative, targets nationwide adoption

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    Subsidy Palliative: FG gives states N5bn to buy rice, maize

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    Student Loan Act: How to apply for the loan, all you need to know

    FG establishes ‘Infrastructure Support Fund (ISF) for the 36 States of the Federation’

    Headline Inflation in Nigeria rose to 22.04% in March

    Inflation in Nigeria rises to 22.79% in June 2023

    CBN extends Naira 4 Dollar Scheme for diaspora remittances until further notice

    CBN includes Naira as payout option for diaspora remittance

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    NGX Daily Equities Market Report: Market gains for third consecutive days

    Nigerian Exchange: Stock Market report for week ended 22 September 2023

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    Nigerian Exchange: Stock Market report for week ended 15 September 2023

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    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.02%

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    Zenith Bank Plc reports N291.73bn profit for Half-Year 2023

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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    ELECTION: How to check your polling unit, code online

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    4 things to consider before buying a laptop

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MTN Nigeria proposes N23bn Commercial Paper

Wednesday, 7 September 2022, 11:53 pm
in Business, Companies
0
MTN Nigeria proposes N23bn Commercial Paper
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MTN Nigeria Communications Plc (NGX: MTNN) has notified the Nigerian Exchange Limited (NGX) and the investing public of its proposed issuance of up to N23bn Series 3 Commercial Paper notes under its N150bn Commercial Paper Issuance Programme.

The company says that it will deploy the funds towards working capital and general corporate purposes. The Commercial Paper Issuance forms part of the Company’s strategy to diversify its financing options, the statement said.

Also read; 2023: INEC begins election staff recruitment process

MTNN stated that further details on the Issuance as well as subsequent issuances will be communicated to the market as the transactions occur.

In April 2022, MTNN announced the issuance of its N127 billion Series 1 & 2 Commercial Paper under the registered N150 billion Commercial Paper Programme.

Series 1 was a 184-day Serie issuance priced at a 7.50% yield and Series 2 was a 254-day Serie issuance at an 8.50% yield.

Commercial paper is an unsecured, short-term debt instrument issued by corporations. It’s typically used to the finance short-term liabilities such as payroll, accounts payable, and inventories.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.02%

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Nnamdi Kanu’s release: S’Court fixes date for hearing, allows FG to raise new objections

Supreme Court sets date for hearing Nnamdi Kanu’s case

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