Flour Mills of Nigeria Plc (FMN) was incorporated on 29th September, 1960 as a private limited liability company with a modest paid-up share capital of N1 million and converted to a public company in November, 1978. The beneficial interest in the company’s equity is held by Nigerian and Overseas shareholders. Presently, two foreign shareholders own about 56% of the company’s paid-up share capital. The balance is held by over 75,000 individuals and institutional investors.
Wheat milling forms the financial backbone of our diversified company. FMN pioneered flour milling in Nigeria when its first mill was commissioned at Apapa in 1962 with a grinding capacity of 500 metric tonnes of wheat per day. Today, the Apapa milling complex has a rated capacity of over 8,000 metric tons per day making it one of the largest single site mills in the world. All the mills are manned by a team of highly trained and skilled professionals working at a high level of efficiency attested to by our ISO 9001:2008 accreditation recognizing that our flour manufacturing facilities are world class and operate within an internationally recognized Quality System. FMN had over the years made huge investments in milling technology and human capital to sustain its pre-eminent position and maintain its competitive advantage in the Nigerian flour milling industry.
In its over five-decade history, FMN’s flagship food brand, “Golden Penny”, continues to be one of the best known and the preferred brand amongst bakers, confectioneries and consumers in Nigeria. The “Golden Penny” basket of foods has now grown to include products such as semovita, masavita, pasta, noodles, refined sugar, margarine, vegetable oils, and a range of snacks and breakfast cereals, instantly recognizable in any Nigerian household.
FMN’s first investment outside Flour Milling was in BAGCO in 1978. BAGCO now a Division of FMN is a pace setter in woven polypropylene sack manufacturing. With its two giant plants at Lagos and Kano, it is by far the largest and supplier of choice to many industrial and agro-allied companies in Nigeria in the packaging of flour, cement, grains, salt, detergent, fertilizer, merchandise, farm harvests, shopping, etc. The BAGCO brand which has succeeded in gaining international recognition has also entered the export market with some of its polymer bags going to the African Continent and as far as the United States of America.
Another significant milestone was the company’s foray into Cement. The company operated a large cement terminal at Apapa and marketed its cement under “Burham Cement” brand, renowned for high quality and consistency. The cement terminal had a handling capacity of 10,000 metric tonnes of cement per day. In line with Federal Government’s backward integration policy, Flour Mills invested in the United Cement Manufacturing Co. Ltd. (UNICEM) Calabar, in 2002. UNICEM operates a green field, fully integrated cement plant, with a capacity of 2.5 million metric tonnes of cement per annum. In 2015, a strategic decision was made to dispose of the investment in UNICEM and refocus the group as a publicly traded, Food and Agro-Allied company that strives to use locally sourced materials to develop and produce unique consumer products for the local markets.
Corporate Finance Manager
- Optimise the Group’s capital structure, assist in capital raising activities including valuation modelling, terms & document negotiation, due diligence and execution/closing of transaction.
- Provide financial analysis and structuring advice regarding Group-wide operations and provide inputs into the long term financial strategies, budgeting process and strategic capital allocation.
- Manage credit rating process and advise management on key performance metrics.
- Assess and predict financial risks and returns
- Conduct research and identify opportunities considering the Group’s financial objectives.
- Lead or work as part of core team for cross-functional institutional projects.
- Liaise with banks, funding institutions, credit rating agencies, accounting firms, financial and legal advisors, accounting firms, etc.
The person must:
- Possess excellent Financial Modelling skills.
- Excellent written and verbal communication skills.
- Have strong presentation skills.
- Be resourceful, a self starter and willing to work independently.
5 ‘O’ level credits including Mathematics and English in not more than 2 sittings.
Professional certification (CFA, ACA, ACCA, CIMA)
5+ years in the corporate finance function of a reputable organization.
Experience with equity, hybrid or debt investments either at a Corporation, Investment Bank, Accounting or Investor Relations firm will be an added advantage.
FMN is an equal employment opportunity company and will under no circumstance request applicants to pay money or give any personal items of monetary value to our company or any agency.