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  • FMDA confab to discuss future of Nigeria’s financial system

    FMDA confab to discuss future of Nigeria’s financial system

    Deputy Governor of Financial System Stability Directorate at Central Bank of Nigeria, Mr. Philip Ikeazor, is to speak on Financial Inclusion and Economic Growth at the ninth Financial Markets Dealers Association (FMDA) 2025 conference.

    Other speakers at the event, holding next Thursday at Federal Palace Hotel & Casino, Victoria Island, Lagos, are Managing Director/Chief Executive Officer of First Bank of Nigeria, Olusegun Alebiosu, and Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni.

    Participants will exchange ideas that will promote sustainable business and economic growth. Alebiosu will discuss Building Market Confidence through Transparency and Accountability. Oseni’s talk is on Digital Transformation in Financial Services.

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    Also to speak are CBN’s Director of Risk Management, Dr. Blaise Ijebor; the bank’s Director of Strategy & Innovation Management on Regulatory Frameworks for Innovation, Mrs. Monsurat Vincent; and Chair of ACI Financial Markets Association, Roy Daniels.

    Dr. Ijebor is to deliver a presentation on Risk Management and Cybersecurity in Financial Markets, while Mrs. Vincent will discuss Regulatory Frameworks for Innovation.

    FMDA President, Anwuli Femi-Pearse, noted that the theme: “Future-Proofing Nigeria’s Financial System: Policy, Technology and Market Confidence,” highlights a critical issue shaping the financial markets and economy, reaffirming the power of technology and quality policy framework in financial markets operations and providing seamless investment services.

    Chief Executive Officer of FMDA, Fisayo Fatade, said the conference is an opportunity for financial markets participants, regulators, investors, corporate organisations, and stakeholders to deliberate on future of the financial markets and power of technology in shaping market development.

    FMDA is an body of licensed Deposit Money Banks and other non-bank financial institutions operating in the financial market, emphasising regulatory policy engagement/advocacy and professional ethics in the financial markets.

  • FMDA president calls for transparent, digitised fixed income market

    FMDA president calls for transparent, digitised fixed income market

    The newly elected President, Financial Markets Association of Nigeria (FMDA), Mrs. Anwuli Femi-Pearse, says one of her priorities will be ensuring that the fixed income market becomes more transparent and digitised for operational efficiency.

    Speaking at her swearing-in ceremony during the 32nd Annual General Meeting of FMDA in Lagos, Mrs. Femi-Pearse, who is the Group Head, Treasury, Assets & Liability Management at Sterling Bank, said equipping fixed income market traders with the right skills, ensuring that bonds and T-Bills trading become more transparent are some of her immediate priorities.

    According to her, a lot of progress has been made in entrenching transparency and efficient operations in the forex market, adding that same energy that produced positive results in the forex market will be channeled to the fixed income market during her tenure.

    Mrs. Femi-Pearse said: “There has been lot of work done in the past to promote efficiency and transparency in forex operations which helped to stabilise the forex market. In the last few years, we have been able to support forex market stabilization by making the market operations more effective and transparent”.

    “We want to channel that energy to the fixed income market. We want to ensure that bonds and T-Bills trading are seamless, and more transparent,” she stated.

    Mrs. Femi-Pearse, said that she will be working with her team to ensure that trading around treasury operations are digitized for seamless and more efficient service offering.

    She said the FMDA under her leadership will make trainings and financial markets knowledge readily available to dealers and traders, to deepen understanding of the market operations.

    She disclosed that a lot of financial markets knowledge has been lost in the past years will be restored, and while promoting sanity in treasury and banking operations.

    Read Also: FMDA: capital raising opportunity limited at Int’l market

    According to her, the FMDA under her leadership will further prioritise training for young dealers, including advocating for ACI Dealing/Settlements Certification to enhance their competence on the job and promote professionalism in the industry.

    Mrs. Femi-Pearse thanked the association for entrusting its affairs to her for the next two years and promised to uphold the objectives of the body and work in harmony with other members, member institutions, and regulatory authorities to move the association forward.

    Her predecessor, Nadia Zakari, who is the current Head of Markets for Rand Merchant Bank Nigeria, said the AGM was a valuable opportunity to reflect on FMDA’s activities and progress during the financial year ended March 30, 2025 and to engage our stakeholders in shaping the future of the Association.

    She said: “Over the past two years, the governing council has taken deliberate steps to advance our strategic objectives, guided by our mandate, we have strengthened the foundations of Professionalism and Ethical Conduct within our while building momentum for long term institutional growth”.

    Zakari added that a significant area of progress has been FMDA’s deepening collaboration with regulatory authorities, especially in the area of monetary policy formulation and market development.

    Also speaking, the FMDA Executive Secretary, Fisayo Fatade, disclosed that the Secretariat remains a dependable partner in facilitating the work of technical groups and in advancing the overarching interests of members as well as in strengthening industry competencies.

    The FMDA is a self-regulatory financial services body established to help develop financial market infrastructure, human capital and promote professional as well as ethical standards in treasury activities in Nigeria.

  • FMDA, FMDQ task govt, banks on hedging

    The FMDQ OTC Securities Exchange and Financial Market Dealers Association of Nigeria (FMDA) have urged the Federal Government, banks and other enterprises to embrace hedging to reduce the risk of exposures to unforeseen circumstances.

    Hedging is a risk management strategy used in limiting or offsetting probability of loss from fluctuations in the prices of commodities, currencies, or securities.

    Speaking at the financial markets workshop organised by the Swaps and Derivatives Workgroup of the FMDA in Lagos, Managing Director/CEO, FMDQ OTC Securities Exchange, Bola Onadele said that banks can hedge their foreign currency loans to reduce  exchange rate risks and improve their operations.

    Also speaking at the event, Chairman, Swaps & Derivatives Workgroup and FMDA President, Samuel Ocheho, said the workshop with theme:  Legal Documentation as Driver to introducing New Products and a Healthier Financial Market in Nigeria was organized by the Swaps and Derivatives Workgroup of the FMDA to sensitize people, members of the FMDA and other market operators on the the need for hedging products and proper documentation in the market.

    The International Swaps and Derivatives Association (ISDA) Africa Chairman, Brett Gallie and Partner at Clifford Chance, Derivatives and Structured Trades, Matthew Grigg were also at the event to support the Nigerian derivatives market.

    Speaking further, Onadele said: “The banks that are borrowing dollars when they have to pay back, they have to pay back in dollars. They have to protect themselves.  Through hedging. Anyone that takes foreign currency loan should hedge,  that is the opportunity the Central Bank of Nigeria (CBN) has provided. The rates are low in dollars, so you are tempted to borrow in dollars at four per cent instead of borrowing in naira at 20 per cent”.

    According to Ocheho, FMDA is a partner in progress in developing the Nigerian financial and derivatives market adding that the programme was supported by FMDQ OTC Securities Exchange to impact positively on the derivatives market.

    “There is need to have proper documentation for all the products that we are doing in the financial market. In Nigeria, we do not want to lose revenue. One way to ensure that our oil price remains high is by creating a hedge product for the oil price. Most government don’t want to hedge because they believe the price is expensive. The level of adoption of hedging in Nigeria is still very low because most people do not understand why they need to hedge. I understand the reason is cost but hedging gives you a better way for planning,” Ocheho said.

  • FMDA, FMDQ partner on derivatives workshop

    The FMDQ OTC Securities Exchange and the  Financial Market Dealers Association (FMDA) have partnered to promote the forthcoming FMDA conference on derivatives market holding next week in Lagos.

    The International Swaps and Derivatives Association (ISDA) Africa Chairman, Mr. Brett Gallie,  Partner at Clifford Chance, Derivatives and Structured Trades, Mr. Matthew Grigg and   Managing Director/CEO, FMDQ OTC Securities Exchange, Mr. Bola Onadele (Koko) have all confirmed their attendance at the Swaps & Derivatives Workgroup’s Financial Markets Workshop holding in Lagos.

    The event, organised by the Swaps and Derivatives WorkGroup of the Financial Market Dealers Association of Nigeria (FMDA) will  hold at the prestigious Lagos Continental Hotel, Victoria Island, Lagos ?on Tuesday, March  19?. It will focus on the theme: “Legal Documentation as Driver to introducing New Products and a Healthier Financial Market in Nigeria”.

    The association stated that the theme is not only timely and apt, but expected to discuss the standardization of documentations in Nigeria’s market with the view of boosting the integrity of markets and attract investors’ trust and confidence to the market. The event is expected to commence ?at 8.30am? and ?end by 2.00pm?.

    The opening remarks at the event will be delivered by the Chairman, Swaps & Derivatives Workgroup and FMDA President, Samuel Ocheho.

    According to FMDA,  Gallie and Grigg will be speaking on Market Documentation and the need for Standardization while Onadele will speak on the Need for Derivatives in the Nigerian Financial Markets and FMDQ’s plan for product roll-out this year.

    Partner, Aluko & Oyebode Mrs. Olubunmi Fayokun will be moderating on the topic Transaction Netting in Nigeria – The Way Forward with other renowned panelists which will also contribute to make the event remarkable among whom are Mrs. Yinka Edu – Partner, Udo Udoma Bello Osagie & Co and Mr. Zeal Akaraiwe, CEO, Graeme Blaque.

  • Stable monetary, fiscal policies drive investments, says FMDA

    Stable monetary and fiscal policies are needed to promote investment opportunities, participants at the 2018 Financial Market conference organised by Financial Markets Dealers Association (FMDA) in Lagos, have said.

    In a communique issued at the end of the conference,  the participants explained that maintaining a stable macroeconomic climate will make the market operate more efficiently and encourage participation by prospective investors. According to them, taming inflation to its barest minimum and curtailing foreign exchange rate volatility among others are essential for macroeconomic stability as they  create a conducive environment for investment.

    The participants, led by FMDA President, Samuel Ocheho also had other key drivers of the economy in attendance. The FMDA, said it intends to work with all stakeholders to achieve the desired objectives for companies and overall economy.

    “There is need to create economic conditions that would encourage stable and persistent capital flows in the market. There is also need for more financial instruments to deepen the market; need to focus more on the capital market as a key source of raising capital for businesses”

    For them, regulating all sectors that require funding or seek access to finance and enforcing low or no tax rates on agricultural products and ensuring that already provided incentives are adhered to wil also attract investors and promote economic growth.

    The participants said there was need to promote borrowing and lending, strengthen the monetary policy framework and keep monetary policy tight.

    On exchange rate policy, they called for removal of multiple currency practices, restrictions on forex access for 40 categories of goods, unification of forex market and continued strengthening of external buffers.

    They also spoke on the funding needs in the agricultural sector. “DMBs are not providing loans due to the high risks of the nature of the business fraught with uncertainties.  DMBs must invest time and resources to understanding the sector in order to make it both economically viable and profitable for the farmers.”

    They said the entertainment industry is also untapped and not supported by FIs. With the fame of Nollywood in the world, the industry can be made economically viable by the Banking industry and contribute significantly to the Gross Domestic Product (GDP).

    For them, there is also need for stability with the financial and monetary policies being introduced and implemented by the CBN. This will encourage increased Foreign Direct investment (FDI) into Nigeria. Availability of credible data on economic indices and businesses remain a challenge for potential foreign investors. It is important that FIs Research units ensure a high level of integrity on their results and publications. It would facilitate decision making for investors.

    There were participants from various banks, regulatory organisations, non-bank Financial Institutions, Small & Medium Scale Entrepreneurs and other stakeholders. The conference, with theme:The Nigerian Financial Market – A Catalyst for Sustainable Economic Growth had the keynote address delivered by the Governor of the Central Bank of Nigeria represented by Mrs.OlatounAkinola of the Financial Markets Department with two sub themes anchored by two speakers and moderators respectively as well as four panelists each for the respective sessions.

    The conference sub theme one: The Role of the Financial Markets in Unlocking Capital Flows to the Real Sector focused on SMEs and Agriculture Sector) while the Lead Speaker –  Tony Elumelu- Chairman, UBA, Heirs Holding and Transcorp represented by ChukwumaNweke, Executive Director, Operations and IT UBA Moderator – WoleFamurewa- Editor West Africa CNBC

    On the panel were Ms. YewandeSadiku – Executive Secretary, Nigerian Investment Promotion Commission (NIPC),  Mrs.  Ndidi Okonkwo Nwuneli, Co-Founder of AACE Food Processing and Distribution Ltd represented by DejiAdebusoye, VP Sahel Capital .Director, Enterprise Development Centre, Pan-Atlantic University, Mr. Peter Bamkole also spoke. The  balancing Monetary Policy, Portfolio Investment, Foreign Direct Investments and FX Targeting was also discussed.

    The Lead Speaker – Mr. Amine Mati –IMF Country Chief while the moderator – PhumeleleMbiyo – Head, Macro Economic Research, Africa, Standard Bank. Others are Ladell Robbins – Principal at Africa Capital Alliance, Peter Maila – Investment Director, CDC Group Plc, London.

  • FMDA organises financial markets confab

    The 2018 Financial Markets conference organised by the Financial Markets Dealers Association (FMDA) will be holding on Friday, in Lagos. The event will be attended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, Chairman, UBA, Heirs Holdings and Transcorp, Tony Elumelu and International Monetary Fund (IMF) Country Chief, Amine Mati.

    The event scheduled to hold at the Eko Hotels and Suites, will focus on the theme:  The Nigerian Financial Market – A Catalyst for Sustainable Economic Growth.

    In a statement, the Acting Executive Secretary (FMDA), Mrs. Mary Gbegbaje  noted that the opening remarks at the event will be delivered by the FMDA President, Samuel Ocheho, while Director, Enterprise Development Centre, Pan-Atlantic University, Peter Bamkole will moderate one of the sessions.

    Mrs. Gbegbaje said the programme which commences by 3pm is an opportunity for the Financial Market participants, Regulators, Investors, Corporates and other stakeholders to discuss ways of using Financial Market to facilitate Economic Development through entrepreneurship and job creation for the people.

    She said the CBN boss, Emefiele will be the Keynote Speaker while other renowned moderators and panelists will also contribute to make the event remarkable among whom are Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Ms. Yewande Sadiku; Co-Founder of AACE Food Processing and Distribution Ltd, Mrs. Ndidi Okonkwo Nwuneli; Ex- President, African Finance Corporation (IFC), Andrew Alli among others.

    The conference sub-themes are: The Role of the Financial Markets In Unlocking Capital Flows to the Real Sector – Spotlight on SMEs & Agriculture Sector and Balancing Monetary Policy, Portfolio Investment, Foreign Direct Investments and Forex Targeting with Elumelu and Mati as Lead Speakers respectively.

    The Financial Markets Dealers Association of Nigeria is an Association of licensed Deposit Money Banks (DMBs) operating within the Nigeria Financial market, emphasizing on regulatory policy engagement/advocacy and professional ethics in the financial markets.

  • FMDA gets new Governing Council members

    The Financial Market Dealers Association of Nigeria (FMDA) has named new Governing Council Members for the group at its 22nd Annual General Meeting held in Lagos.

    A statement signed by its Executive Secretary/CEO, ‘Wale Abe, named David Adepoju of Standard Chartered Bank Limited as the President, while Adebayo Adeyemo of Citibank Nigeria is Vice President.

    Also, Michael Anyimah of Zenith Bank, Tolu Obadagbonyi of Kakawa Discount House and Kayode Obatusin, Rand Merchant Bank were named members of the group.

    Ayo Babatunde of Ecobank Nigeria, Akinsowon Dawodu of Citibank and Ini Ebong of FirstBank Nigeria Limited are now Ex-Officio members.

    It said the new officers would run the affairs of the Association for the next two years.

    Abe said the association is willingness to continue to promote the tenets of sound ethical and professional market practice aimed at ensuring market transparency and price discovery in its dealing activities.

    He said the body will partner with the regulatory authorities and other major stakeholders to facilitate the deepening of the Nigerian financial markets in line with global standards, so as to competitively attract both local and foreign capital into the nation’s economy.

  • FMDA elects president

    Financial Markets Dealers Association (FMDA) has elected Sola Adegbesan, Head of Global Markets at Stanbic IBTC Bank, as its President.

    In a statement, the body said Adegbesan was elected for a two-year term at the 21st delegates conference/annual general meeting of the association in Lagos. Other members of the seven-man governing council are Mrs. Sumbo Adigun as vice president; Mr Ayo Babatunde and Mr Zeal Akaraiwe as members while Mr Akin Dawodu, Mrs Femi Owopetu, and Mr Ini Ebong are ex-officios.

    In his acceptance speech, Adegbesan thanked the association for entrusting its affairs to him. He promised to uphold the objectives of the body and work with other members, member-institutions and regulatory authorities to move the association forward.

    According to him, “The financial services industry in Nigeria is faced with challenges which require our collective attention and commitment to surmount. As a body, we must ensure that the ongoing reforms in the financial services sector are successfully concluded, that corporate governance structures are strengthened and global best practices engendered in the industry. This will make our financial markets attractive for foreign portfolio investments and the resultant market development.”

    The new president’s over 15 years cognate banking experience is expected to have a positive impact on the activities of the association as it strives to deepen treasury services in the industry.

    The Association’s contributions to the financial markets include its introduction of the Nigerian Inter-bank Offered Rate (NIBOR), the benchmark interest rate, in 1998 and the Nigerian Inter-bank Foreign Exchange Rate (NIFEX), respectively.