AFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital Market

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

Lagos Announces Partial Closure of Marine Beach for Repairs

The Lagos State Government has announced the partial closure of Marine Beach Bridge by Total Gas, inwards Apapa for...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...
AFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital MarketAFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital Market

In a signing ceremony which held today, March 4, 2020, at the AFEX Commodities Exchange Limited (AFEX) offices in Abuja, FMDQ Holdings PLC (“FMDQ Group” or “FMDQ”) and AFEX formalised their partnership by executing a Memorandum of Understanding (MoU), solidifying their mutual interest in developing products to deepen the Nigerian capital market.

AFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital Market
Mr. Ayodeji Balogun, Chief Executive Officer, AFEX Commodities Exchange Limited and Mr. Bola Onadele. Koko, Chief Executive Officer, FMDQ Group; at the signing of the Collaboration Agreement between FMDQ and AFEX in Abuja. www.brandspurng.com

The collaboration between FMDQ and AFEX recognises the importance of product innovation to market development and encouraging participation of a wider swathe of investors in the capital market. Holding the promise for developing new markets, the partnership will help deliver new initiatives focused on deepening the Nigerian capital market.

Key on the roster of the positive impact that will stem from the partnership between the two Securities and Exchange Commission (“SEC”)’s-registered Exchanges is the unlocking of additional sources of finance for the agriculture sector in Nigeria. Products developed under this new partnership will support innovative financing structures for the sector that will leverage AFEX’s established infrastructure and supply chain network and FMDQ’s extensive experience as innovators in the Nigerian financial markets.

- Advertisement -

Speaking to stakeholders present at the signing ceremony, Mr. Ayodeji Balogun, Chief Executive Officer of AFEX, said ”AFEX is on a path to building Africa’s second commodities derivative market, and this partnership sets the tone for that journey. We are extremely proud to be collaborating with FMDQ, as this helps our goal of increasing our product offerings to investors. We see a clear path to product innovation that will unlock a wider range of products that are able to be traded within Nigeria’s capital markets, promoting broad-based wealth creation that’s accessible to every Nigerian.”

According to the Chief Executive Officer, FMDQ Group, Mr. Bola Onadele. Koko,  “We are delighted to announce this collaboration agreement between FMDQ and AFEX. As members of the SEC’s Implementation Committee on Commodities Trading Ecosystem, an area of focus for this partnership will be the Nigerian Agricultural Commodities Ecosystem. Our goal at FMDQ is to support the growth of the sector through commercial and market-driven propositions. Through the partnership, we will be introducing new products aimed at de-risking the value chain, attracting capital market funding to the sector and diversifying the existing products available to investors in this space.”

In the course of the event, both parties reiterated the need for continuous cooperation, alluding to the frontloading of relevant initiatives and campaigns to educate the market on the results of product and market development activities.

Read Also:  Stanbic, UBA, Access Bank Eight Others Trade N61.5trn On FMDQ

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide seamless execution, clearing and settlement of financial market transactions through its wholly-owned subsidiaries – FMDQ Securities Exchange Limited, FMDQ Clear Limited and FMDQ Depository Limited – towards transforming the Nigerian financial markets through its “GOLD” (Global Competitiveness, Operational Excellence, Liquidity and Diversity) Agenda.

- Advertisement -
AFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital MarketAFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital Market

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

AFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital MarketAFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital Market

Latest News

Lagos Announces Partial Closure of Marine Beach for Repairs

The Lagos State Government has announced the partial closure of Marine Beach Bridge by Total Gas, inwards Apapa for...

MTN Nigeria announces N100 billion Commercial Paper issuance

MTN Nigeria Communications Plc has notified the public of its proposed series I and II commercial paper issuance of up to 50 Billion Naira. Having...

United Capital Plc Raises N10billion in Series 1 Bond Issuance

Aligning with its organizational objectives for the year 2020, United Capital Plc (“the Company”) has announced that the Company has successfully raised the sum...

Itel Mobile Unveils Olamide As Brand Ambassador (Photos)

In what can only be considered as the coming together of two kings, the smartphone for everyone brand, itel Mobile has unveiled Afro-pop star,...

At Least 80 Million Children Under One At Risk Of Diseases Such As Diphtheria, Measles And Polio As COVID-19 Disrupts Routine Vaccination Efforts, Warn...

COVID-19 is disrupting life-saving immunization services around the world, putting millions of children – in rich and poor countries alike – at risk of...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -AFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital MarketAFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria’s Capital Market