Short-term corporate debt
Nigeria Commercial Paper Structure Map
Follow commercial paperShort-term unsecured debt issued by a company. from a company’s funding programme through dealer distributionIncome or realised gains paid by a fund to its unitholders., market admission, depository records, and repayment or default.
Responsibility chain
Stage 01
The issuer establishes a borrowing programme
Programme documents define maximum size, tenor, use of proceeds, risk factors, dealers, and admission arrangements.
Who is responsible at this stage?
Choose a lane, then inspect a highlighted participant.
Look here first: inspect Issuer.
Swipe left or right to change stages, or use the arrow buttons.
Follow the four lanes
Money
No investorA person or organisation that commits capital with the expectation of a financial return. money moves during programme establishment.
Assets
The future asset is an unsecured or secured corporate debt note as documented.
Records
Programme memorandum, ratings, financial statements, and series terms form the evidence set.
Oversight
Market admission and capital-market rules impose disclosureThe provision of material information needed for informed decisions. and operator obligations.
Currently following: Money
No investorA person or organisation that commits capital with the expectation of a financial return. money moves during programme establishment.
Before you commit money
The responsibility test
Credit owner
The corporate issuer owes the money, not FMDQ, the dealer, or the rating agencyAn organisation that assesses creditworthiness and assigns credit ratings..
Sources for this stage
These sources support the current stage. Verify later amendments and the specific product documents before acting.
Content reviewed: 11 June 2026
Educational information only. Exact arrangements vary by product and provider and may change. Regulation, quotation, listing, custody, or deposit insurance does not eliminate investment risk.