By Nkiruka Nnorom
FMDQ Securities Exchange Plc said it admitted a total of 78 debt securities worth N1.03 trillion in the year ended December 31, 2018, as against 50 securities valued at N236.9 billion in the previous year, 2017.
The company also revealed plans to adopt a Holding Company, Holdco, structure after successfully adopting a new brand name, FMDQ Securities Exchange Plc, in the year under review.
The Chairman, Dr. Okwu Joseph Nnanna, disclosed these at the company’s 7th Annual General Meeting, AGM, in Lagos, saying that the Federal Government of Nigeria’s Sukuk and Green Bond valued at N110.7 billion were admitted, while Lagos State Government Series 11 Tranche A and B bonds valued at N85.14 billion and 60 Commercial Papers (CPs) worth N505.30 billion were listed on the platform during the year under review.
He stated that the Exchange engaged in strategic collaborations in 2018 to promote the Nigerian Debt Capital market as a source for long term finance as well as develop the Nigerian green bond market.
Mr. Bola Onadele Koko, Managing Director/CEO, FMDQ, speaking at the event, said: “The strategic horizon for FMDQ in 2019 is the integration of our market with external markets with a focus on consolidating operations across the full value chain of the financial market, to operate a fully diversified and integrated financial market infrastructure group, offering execution and settlement opportunities to market stakeholders.
“In line with FMDQ’s market integration agenda, 2019 will see full operationalization of the dealing member specialist market to reduce fragmentation and further consolidate the market, as well as foster retail participation in the fixed income space,” he said.