FMDQ Group Plc has announced the appointment of financial markets expert Zeal Akaraiwe as its new Group Chief Executive Officer, marking a strategic leadership change at one of Nigeria’s key over-the-counter financial market infrastructure institutions, FMDQ Group Plc.
The transition follows the retirement of pioneer Group Chief Executive Officer Bola Onadele Koko, who completed a 12-year tenure credited with reshaping the organisation into a central pillar of Nigeria’s fixed income, currency, and derivatives market architecture. His exit closes a foundational era defined by major structural reforms and product innovation within the country’s financial ecosystem.
Brandspur Banking News Desk reports that the appointment has received regulatory approval, signalling a smooth succession process designed to strengthen continuity while accelerating market development objectives in Nigeria’s evolving capital markets landscape.
Zeal Akaraiwe brings over 25 years of cross-border experience spanning West Africa, Southern Africa, and the United Kingdom, with core expertise in derivatives trading, treasury solutions, market risk, and financial infrastructure development. Prior to his appointment, he served as Founder and Chief Executive Officer of Graeme Blaque Advisory, where he advised financial institutions, corporates, and development partners across Africa.
His professional background also includes a senior role at Standard Chartered Bank, where he led Global Markets Sales in Nigeria, overseeing foreign exchange, interest rate, and commodity structuring for institutional and corporate clients. He is widely recognised for his contributions to the development of derivatives markets across the continent and for advisory roles supporting regulatory and market framework design.
The leadership change comes at a time when FMDQ is intensifying its focus on expanding market liquidity, introducing new risk management instruments, and deepening participation across domestic and international investor segments. The exchange is expected to build on earlier innovations such as derivatives market development and foreign exchange futures expansion.
Market analysts note that the new appointment signals a renewed push toward innovation-driven capital market growth, positioning FMDQ to play a stronger role in Nigeria’s financial system modernisation and long-term investment attraction strategy.
