Mallam Lamido Sanusi, Governor of the Central Bank of Nigeria has called on the board of the Financial Market Dealers Quote to revive the market for commercial papers in Nigeria.

Sanusi, who made the appeal at the official launch of the MFDQ PLC, also called for the review of the Nigeria Interbank Offered Rate (NIBOR), stating that FMDQ is expected to look at it in light of IOSCO’s standards on benchmarks.

He pointed out that though the establishment of FMDQ is commendable and in line with other reform initiatives of the CBN, there is still huge expectation of the group to further restructure and give depth to the Nigerian Financial Markets.

The CBN boss however pledge that Central Bank of Nigeria will continue to collaborate with FMDQ on strategic initiatives  that will support Global competitiveness, Operational excellence, Liquidity and Diversity (GOLD) of the market, adding that that the Apex Bank is keen at seeing that FMDQ upholds the highest standards of market governance.