First City Monument Bank Limited has unveiled up to N70bn Series 1 & 2 Commercial Paper under a N100bn Multi-currency Issuance Programme to shore up its short-term working capital needs.

The net proceeds from the issuances, which opened on May 27 and closes on Tuesday 3  June 2025, while funding holds on the next day, the bank said, will also be used to strengthen its capacity to lend to the private sector in order to stimulate economic growth.

While the series 1 with a 180-day tenor is being offered at a discount rate of 20.66%, 23% yield and maturity date of Monday, December 1, 2025; the 268-day tenored issuance has a discount rate of 20.94%, 24.75% yield and Friday, February 27, 2026.

The bank is rated A2 by GCR and A- by Agusto & Co.