FMDQ Exchange approves N30bn CP programme to boost agriculture

FMDQ Securities Exchange Limited (FMDQ Exchange) on Tuesday said it has approved the registration of the Johnvents Industries Limited’s N30billion Commercial Paper (CP) Programme on its platform.

Johnvents Industries Limited is a wholly indigenous-owned agribusiness that provides modern information and communication tools, macro-loans, and farm inputs, such as seedlings and fertilisers, to support farmers and finance their businesses in Nigeria, via its subsidiaries – Johnvents Procurements, Johnvents Cocoa Factory and Johnvents AgriTrade.

The CP Programme, which is sponsored by United Capital PLC – a Registration Member (Quotations) of FMDQ Exchange, will avail the Issuer, Johnvents Industries, the opportunity to raise short-term finance from the Nigerian debt markets through CP issuances within the Programme limit.

As Nigeria’s largest securities exchange by market turnover, FMDQ Exchange will continue to provide a liquid, transparent and efficient market geared towards supporting the aspirations of corporates, such as Johnvents Industries, to unlock the required capital to bridge the funding gap in Nigeria’s agriculture sector.