Our Company, CONSOLIDATED DISCOUNTS LIMITED (CDL) was incorporated on 16th November 1995 as a limited liability company, and was licensed by the Central Bank of Nigeria on 14th August 1996 to carry out the functions of a discount house. Built on a solid infrastructure, CDL parades an array of seasoned and tested professionals to cater for the financial intermediary needs of its clients and target market.

Share Capital And Ownership Structure
CDL is wholly owned by a consortium of five solid Nigerian Banks and a leading Pension Fund Management Institution. The company has an authorised Share Capital of N4 billion out of which N4 billion is fully paid by its shareholders, namely:

Access Bank Plc
First Bank of Nigeria Plc
Mainstreet Bank Ltd.
Skye Bank Plc
Union Bank of Nigeria Plc
Williams Street Trustees Ltd.

The Role of Discount Houses
Discount Houses constitute the nucleus of the Money Market. As custodians of substantial liquidity in the entire system, our highly technical role involves financial intermediation of domestic money flows through the use of low risk securities. Discount Houses perform intermediary roles as the link between the banks and the Central Bank of Nigeria (CBN) from its vantage position as the apex of the money market. CDL has painstakingly identified the primary needs of the potential customers in its target market.


Objectives of CDL
The objectives of CDL accord with the broadly outlined functions of Discount Houses, anchored on the use of low risk securities to:

• Provide safe and secured shelter for surplus short-term funds in the financial system.

• Cater for the liquidity needs of the financial community through acceptance of placements, duly secured, and which qualify as liquid assets for statutory reporting purposes in the case of banks.

• Enhance clients' profitability by facilitating their ability to invest otherwise idle overnight balances without compromising on liquidity.

• Invigorate the Nigerian Money Market through broadening the scope and the depth of the secondary Market for government and other eligible securities.
• Sustain excellent quality service delivery from its crop of highly motivated professional staff.