Valency Agro Nigeria taps Commercial Paper Market

Valency Agro Nigeria Limited CP debut issue comes at a time where the Nigerian economy is bedevilled with soaring food prices

In fostering the development of the Nigerian Debt Capital Markets (DCM), FMDQ Securities Exchange Limited has continued to avail its credible and efficient platform as well as tailor its listings and quotations services to suit the needs of issuers and registration members (sponsors of the issue on FMDQ Exchange) through innovative and uninterrupted service delivery.

Following the due diligence process, the Exchange, through its board listings and markets committee, announced the approval of the quotation of the Valency Agro Nigeria Limited N5.12 billion Series 1 Commercial Paper (CP) under its N20 billion CP Programme on its platform.

The Valency Agro Nigeria Limited CP debut issue comes at a time where the Nigerian economy is bedevilled with soaring food prices, amidst compounding challenges of insecurity. The agricultural sector and its attendant transformation agenda have never been more important in driving increased and sustainable production of agricultural products as well as the derived foreign earnings through exports.

The proceeds from this issue of the CP will be applied by Valency Agro towards meeting the mid-term working capital requirements of the various agricultural produce under its portfolio such as cashew, sesame, cocoa and in value addition prior to export.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.