FMDA, INTL FCSton task Nigerians on commodity markets
WORRIED by Nigerians’ low level of knowledge in commodity markets and risk management, the Financial Markets Dealers Association (FMDA), in collaboration with INTL FCStone (UK) has stressed the need to be properly informed about financial markets and risk management in order to improve the nation’s Gross Domestic Product (GDP) and encourage export.
Speaking at a press conference with journalists in Lagos, the Executive Secretary/Chief Executive Officer, FMDA, Wale Abe said that “there are lot of value chains in the agriculture business. However, lack of knowledge has been a problem which includes those that will facilitate the value chains of business. There is a little understanding of the risk involved in commodity trading; bankers will also have a better understanding of how to finance the business”.
Abe said a two-day seminar would be organized to enlighten Nigerians’ and bankers about commodity markets and risk management.
According to him, the seminar will expose participants to commodity price risks and exchange rate risks; contribute to developing hedging strategies and innovatively seek new sectorial directions. The seminar is designed to benefit bankers and their clients in the export business as well as regulators.
Speaking further, he stated that the seminar will also identify and assess exposures to commodity price risks and exchange rate risks; contribute to developing hedging strategies innovatively; gain commercial advantage from the ability to address new economic priorities and innovatively address new priorities in the agricultural sector and other industries.
Also, the Senior Vice President, INTL FCStone, Stuart Ponder, said: “We live in a world full of opportunities in financial markets, but not a world of full access. We believe that every company regardless of size, regardless of industry, regardless of how long they have best advice, the best products, and the best most efficient market access.
We use our capital, expertise and knowledge to protect our customers’ bottom line margins, reduce costs and provide efficient solutions in more complex markets.”
INTL FCStone limited is a financial services firm, authorised and regulated by UK Financial Conduct Authority in London, providing advisory, execution and clearing services to commercial clients seeking to mitigate exposures to energy and soft commodities.
INTL FCStone provides clients across the globe with a comprehensive range of customised financial services and tools to help them protect their margins and manage volatility. It also provides global payment solutions to banks and commercial businesses as well as charities, non- governmental organisations and government organisations.
No comments yet