NGX lists Dangote Cement's ₦119.87bn Commercial Papers
Nigerian Exchange Limited (NGX) has listed Dangote Cement Plc's Series 1 and Series 2 Commercial Papers (CPs) worth ₦119.87 billion under its ₦500 billion CP Issuance Programme. The ₦19.95 billion Series 1 (181 days, 17.50% implied yield) and ₦99.92 billion Series 2 (265 days, 19.00% implied yield) were admitted to trading on 18 February 2026, marking NGX's first CP listing following its 2025 framework rollout. This transforms Nigeria's CP market from OTC to exchange-traded, enhancing transparency, liquidity, and visibility for short-term corporate funding. Highcap Securities VP David Adonri hailed the listing as evidence of market sophistication, noting strong investor appetite for high-quality short-tenor debt. The move expands NGX's product offerings, deepening fixed income markets and providing issuers with better visibility and liquidity.