FMDQ Key Partner in Economic Development of Lagos, Says Sanwo-Olu

Lagos State Governor, Mr. Babajide Sanwo-Olu, has described FMDQ Group Plc as a key partner in the economic development of the state and Nigeria as a whole.

Sanwo-Olu  said this at the 10th anniversary of FMDQ Group at the weekend in Lagos, with the theme:”Celebrating a Decade of Innovation in the Nigerian Financial Market.”He said that FMDQ Group had played a pivotal role in the developmental projects achieved in the state.

The governor also acknowledged the sustained collaboration between FMDQ and the Lagos State Government in sustainable finance.

“FMDQ commitment to sustainable finance aligns seamlessly with the state’s shared vision of a more sustainable and environmentally friendly climate,” he said.

Sanwo-Olu said that the Lagos State Government would continue to collaborate with the company for enhanced growth and development.

He expressed optimism that the partnership would continue to yield a remarkable result.

The governor described the 10th anniversary as an occasion that signified a decade of innovation, transformation and willing dedication to the advancement of the financial market.

He noted that the journey of FMDQ Group in the last 10 years had been characterised by pursuit of excellence, innovation and great achievement.

According to him, the company’s distinguished colour symbolises success, excellence, prosperity and resilience.

“FMDQ indeed has every reason to celebrate because it has been a shining light of our financial market and shaping the path of the nation’s financial market,” Sanwo-Olu said.

He commended the group for playing a pivotal role in the growth and development of the nation’s economy.

“The future is bright, together we will continue to build a vibrant and competitive global capital market that will benefit all stakeholders,” the governor said.

Sanwo-Olu was represented at the event by Mrs. Alake Sanusi, the Permanent Secretary, Lagos Debt Management Office.

Also speaking, Mr. Lamido Yuguda, the Director-General, the Securities and Exchange Commission (SEC), commended FMDQ Group for the achievements recorded in the last 10 years.

Yuguda said that the milestone stood as a testament and remarkable journey of expansion and evolution, making an enduring impact on Nigeria’s financial landscape.

He said that SEC as the apex regulator of the capital market would continue to promote and champion market development and innovation, while maintaining a regulatory environment that fosters stability and fairness in the financial market.

According to him, the commission deliberately works to establish a regulatory environment that enables capital market operators and financial market infrastructure like FMDQ to thrive.

“Today, FMDQ growth is a profitable incubated capital market infrastructure group, delivering seamless execution, clearing and settlement services for financial market transactions.

“Throughout the last decade, FMDQ Group had undergone a profound transformation and played a significant role within the financial market landscape,” he said.

Yuguda said that the group had transformed into a formidable capital market infrastructure group well known for contributing significantly across the capital market value chain.

He said that the group’s commitment to elevate the Nigerian financial market to global standard aligned with SEC’s vision of fostering a robust and globally competitive market.

“As FMDQ Group enters the next phase of its journey, it’s imperative to maintain robust corporate governance, nurture a culture of excellence and integrity and ensure dedication to regulatory compliance and collaboration.

“We look forward to continuing to collaborate on sustainable growth and innovation in the future.

“SEC plays a pivotal role to the development and modernisation of the country’s financial market, the commission would continue to put in place factors that support growth of the market and its operators such as FMDQ.

“SEC extends its warmest greetings to FMDQ Group for another decade, thrilled with innovation, growth and excellence,” Yuguda said.

Earlier, Mr. Jibril Aku, acting Group Chairman, FMDQ Group Plc, said that the organisation was happy to commemorate a decade, marked by excellence, innovation and resilience.

Aku commended the board, management and staff of FMDQ Group for the growth and development recorded in the past 10 years, stressing that FMDQ had become an important institution in the Nigerian capital market.

The chairman lauded the promoters of FMDQ and all the stakeholders that helped in nurturing and shaping the organisation into a formidable institution that must be reckoned with in the Nigerian capital market.

He also commended market participants, regulators and various stakeholders who consistently go over the board to shape FMDQ into a financial market power house