As most businesses across the globe continue to grapple with the economic effects of the COVID-19 pandemic, FMDQ Holdings PLC has through its subsidiary, FMDQ Securities Exchange Limited approved the quotation of the Flour Mills of Nigeria PLC ₦10.00 billion Series 13 and ₦20.00 billion Series 14 Commercial Paper (CP) notes (the Flour Mills CPs) under its ₦100.00 billion CP Issuance Programme on the Exchange’s platform.
This move comes as part of its commitment to the continuous empowerment of the Nigerian financial market and the provision of uninterrupted services to all stakeholders.
Over the years, FMDQ Holdings PLC has sustained its provision of required support to governments, corporate organisations as well as individuals through the delivery of innovative and dependable capital market solutions.
The Nigerian CP market has remained a viable option for corporate entities looking to raise funds to meet shortfalls in their working capital needs, as well as other short-term expenditures.
In a statement, the FMDQ Group Chief Executive Officer Mr. Bola Onadele described the development as one that buttresses the FMDQ commitment to the continuous empowerment of the Nigerian financial market and the provision of uninterrupted services to all stakeholders.
“As the economic impact of COVID-19 continues to crystallise, FMDQ Group remains steadfast in contributing towards the emergence of a resilient financial market in Nigeria,” it said.
“The Group and its subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited – shall continue to engage the market and invariably, deploy innovative strategies leveraging on the unrivalled capabilities within its vertically integrated market infrastructure to promote market development and expansion.”
FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group which provides a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement and depository services, as well as data and information services across the debt capital, foreign exchange and derivatives markets in Nigeria.