2020 FMDQ Gold Awards: Crown Flour Mill emerges Most Active Corporate in the FX Futures Market

Crown Flour Mill Limited an Olam Group company, has emerged the Most Active Corporate in the FX Futures Market, in the domestic (non-bank) category, at the 2020 Financial Market Dealer Quotation (FMDQ) Gold Awards announced on Friday, November 6, 2020. The wheat milling firm and makers of a rich portfolio of food brands beat two other contenders to the award.

Currently in its third year, the FMDQ Gold Awards recognises principal market participants who have demonstrated excellence and diversity in the fixed income, foreign exchange and derivatives markets; driving development through their activities and raising the standards of the domestic integrated financial market.

Kaodi Ugoji, Group Chief Operation Officer at FMDQ Group said: “The FMDQ has an agenda which is an acronym for global competitiveness, operational excellence, liquidity and diversity. Those four words are pretty much how FMDQ measures the work being done in the financial market, and how it intends its stakeholders approach the market to be able to compete in the international market.”

Speaking on the significance of the award, Sudhir Goenka, Chief Financial Officer, Crown Flour Mill said: “The FMDQ Gold award underlines our commitment to the Nigerian market and similarly, Crown Flour Mill’s commitment to operational excellence which is a key enabler delivering top quality and affordable food products for Nigerian households and the economy at large.”

He further stated: “We are truly honoured by this recognition and more so, for this award for excellence at the FMDQ Gold Awards. Such a noteworthy award will in no small measure motivate us to raise the bar even higher and trigger the appetite for more successes in the coming years.”

Niraj Shah, Head of Treasury, Olam Nigeria Limited also commenting on the feat said: “The award is a testament to the commitment of Olam Group to the Nigerian market and our intent of fostering development across the nation’s food and agricultural value chain, while also contributing to the growth of the economy.

Crown Flour Mill Limited is a subsidiary of the Olam Group, an agro-allied business. Through its wheat milling plants located in Apapa, Tincan Island, Beachland, Ikorodu, Ilorin, Warri, Calabar, Port Harcourt and Kano, the firm produces a rich portfolio of consumer food brands comprising Crown Premium Pasta, Supreme Semolina, Crown Tuwovita and Mama Gold Flour. It also supplies flour to bread bakeries, confectioneries, and noodle makers as part of its Business to Business portfolio.