Flour Mills of Nigeria (FMN), a big food company in Nigeria, has received approval from the Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX) to buy out smaller shareholders in the company.
This means that the largest shareholder of FMN wants to own all the shares, making it easier to manage the company.
The plan is part of FMN’s goal to become a top food company in Africa. They believe this will help the company grow, make quicker decisions, and improve how it runs. FMN also recently provided a clean water system powered by solar energy to a community in Badagry, showing their commitment to helping Nigerians.
Punch