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Commercial Papers
Money market security issued by large banks and corporations. Mostly used to purchase inventory or as working capital.
Commercial Papers
It is a money market security issued by large banks and corporations, mostly used to purchase inventory or as working capital.
Product Features
- – Discounted that is, interest bearing
- – Credit risk of issuer (usually rated).
- – Short maturities
- – Can be clean or guaranteed.
Your Benefits
- – Relatively low risk option.
- – Alternative to lines of credit with a bank
- – Relatively cheaper than using a bank line of credit
The Requirements
Existing Clients
- – Letter expressing desire to invest in CP and authority to debit account thereafterv
- – Custodial authority duly signed by client
- – Copy of physical bill duly signed by investor and reflecting issuers namev
- – Duly signed investment contract confirmation letter showing issuers name.
- – Filled KYC form
New Clients
- – Account opening form with passport attached and means of identification
- – Cheque or lodgment slip
- – Custodial authority duly signed by client
- – Copy of physical bill duly signed by investor and reflecting issuers name
- – Duly signed investment contract confirmation letter showing issuers name.
- – Filled KYC form
Application Process
- – You initiate request and comply with requirements above
- – Account officer verifies documents and forwards to treasury
- – Treasury raises deal slip and forwards to Trops
- – Customers account is debited in line with deal slip instructions
- – Contract certificates are generated
Frequently Asked Questions
You can buy or sell shares through UBA Securities Limited. Please see their contact details below:
UBA Securities Limited
Customer Services
UBA House | 12th Floor
57, Marina
P. O. Box 2406,
Lagos, Nigeria
Email: ubastockbrokers@ubagroup.com
Telephone: +234-1-2808919
www.ubacapitalgroup.com
- UBA’s financial year-end was originally March of each year. After the merger of UBA and STB, with effect from 1 August 2005, the bank’s financial year-end was changed to September. However, with the CBN policy on uniform year end, the reporting period is now December. In addition, UBA reports interim results of the group every three months to the Nigerian Stock Exchange and to shareholders in the Nigerian Press within 15 days after the expiration of the reporting period.
Yes you can. Kindly contact our registrars, Africa Prudential Registrars Limited to set this up. Please see their contact details below:
Business Development and Relationship
Management Unit
Africa Prudential Registrars Limited
220B, Ikorodu Road, Palmgrove
Lagos, Nigeria
Email: info@africaprudentialregistrars.com
Telephone: +234-1-4606460
www.africaprudentialregistrars.com
The merger between United Bank For Africa Plc and Standard Trust Bank Plc came into effect on 1 August 2005.
The current tax legislation requires that a withholding tax of 10% be deducted at source from all dividend payments.
