Bond Listing
- 1 Complete NASD Form 2 (in duplicate).
- 2 Submit completed form and non-refundable fees payable in full at the time of application, accompanied by the listed supporting documents to legalcompliance@nasdng.com.
Companies
Debts Instrument Admission Process
Access new sources of capital and connect with investors through the NASD marketplace. Our markets provide flexible admission routes designed to support companies at different stages of growth.
About Debt Instruments Market
NASD supports companies seeking to raise capital through fixed-income instruments such as corporate bonds or commercial paper. These instruments allow issuers to secure structured debt financing while giving investors access to fixed-income opportunities.
Listed debt is supported by transparent disclosures and a regulated trading environment so issuers can build trust with the investor community.
Best Suited for
- Companies raising funds through bonds or commercial paper
- Firms seeking structured financing
- Organizations funding expansion or projects
Requirements for Bonds & Commercial Paper Listing
Follow these steps to list your debt instrument.
Commercial Paper Listing
- 1 Indicate Interest to list your CP.
- 2 Get accepted to submit required documents on the NASD Commercial Paper portal.
- 3 Upload CP registration requirement documents.
- 4 After review, your CP is listed for market visibility.
Debts Instrument Requirements Document
Download the full admission document for detailed disclosure requirements and obligations.
Debt Instrument Listing Process
Four clear steps from application to trading.
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Step 1Pre-Admission
Board appoints Issuing House, fills application, and returns with fee. Board submits signed undertaking to comply with NASD OTC Rules.
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Step 2Review
NASD reviews issuer structure, debt terms, and supporting disclosures. After due diligence, NASD will give approval in principle.
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Step 3Approval & Admission
Issuer opens a register with CSCS. 100% dematerialisation of the debt instrument can commence.
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Step 4Announcement
Issuer announces admission to NASD OTC Market. Trading on the debt instrument commences.
FAQs
Some of the commonly asked questions about Debt Admission on NASD.
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What is NASD PLC?
NASD PLC is Nigeria's licensed Over-The-Counter Securities Exchange, regulated by SEC Nigeria. It provides a transparent venue for trading unlisted public securities. -
What services does NASD provide?
NASD operates a regulated OTC trading platform, provides market data and reporting, and supports companies seeking alternative routes to capital and shareholder liquidity. -
How is NASD different from other exchanges?
NASD focuses on unlisted public securities and offers a flexible listing pathway. Compared to a main-board listing, NASD typically has lower entry barriers while maintaining regulatory oversight. -
Who regulates the NASD OTC market?
The Securities and Exchange Commission (SEC) of Nigeria regulates NASD and the issuers admitted on its market. -
What securities can be traded on NASD?
Equities, bonds, commercial papers, and other admitted instruments. See the Admitted Companies page for the current list. -
How are security prices determined on NASD?
Prices are set by the matching of buy and sell orders submitted by licensed brokers, with NASD providing transparent price publication. -
What are the trading hours on the NASD OTC market?
See Hours & Holidays for the current schedule, including any market holidays. -
How are trades settled on NASD?
Trades settle through NASD's clearing arrangements with licensed market intermediaries. Your broker can confirm the timeline for your specific trade. -
Can NASD traded securities be used as collateral?
Subject to lender policy. Several admitted securities are accepted as collateral by Nigerian financial institutions.
Ready to Take the Next Step?
Speak with our team to explore the right market for your company.