FMDQ Securities Exchange, on Friday, November 8, 2019, hosted market participants, including its members, regulators, government agencies, local and foreign portfolio investors and a host of others to the second edition of its flagship FMDQ GOLD Awards, bringing together various stakeholders- both domestic and international.
It was a platform to acknowledge and formally recognise the contributions of participants whose activities stood them out as “GOLD”- (Globally Competitive, Operationally Excellent, Liquid and Diverse), based on how they directly impacted the development of and positively contributed to making the markets.
The major highlight of the evening was the presentation of the FMDQ Markets Enabler Award to Governor Babajide Sanwo-Olu of Lagos State, who was the Special Guest of Honour at the GOLD Awards, in recognition of his contributions to market development as an ex-financial markets practitioner.
According to a statement by FMDQ, the award was also an acknowledgement of the opportunity availed to the governor, in his current position, to achieve transformational change in the Nigerian financial markets and the overall economy.
“The Award was geared at recognising some of the governor’s achievements, such as supporting FMDQ’s efforts to secure the admission of the Financial Centre for Sustainability, Lagos (FC4SL) as the 23rd member of the international network of financial centres for sustainability in May 2019 prior to his inauguration as Governor of Lagos State, launching the FC4SL in October 2019 at FMDQ’s Exchange Place with the support of high-ranking government officials, regulators and private sector stakeholders, and signing a Declaration with the leadership of FC4SL committing to advance green and sustainable finance in the Nigerian financial markets, in line with the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement.”
The FMDQ management, however, challenged Sanwo-Olu to take up the challenge by going ahead to make Lagos Africa’s leading financial centre “by supporting the enactment of key legislation and policies that facilitate affordable housing, clean/renewable energy, zero waste management/circular economy, clean transportation,” among others.
The governor commended the FMDQ for being a reliable partner to Lagos in its aspiration to champion sustainable growth and development for the good of its people and commitment to working assiduously toward upgrading the Nigerian financial markets to the level of globally-recognised financial centres, like London, New York, Singapore, amongst others.
The Awards ceremony also featured other key categories such as Primary Markets Champion, which was won for the second time in a row by Stanbic IBTC Capital Limited; while Stanbic IBTC Bank PLC emerged the Secondary Markets Champion, winning the FMDQ Dealing Member Award, amongst three others within the Group. Chapel Hill Denham clinched three awards, including the FMDQ Registration Member (Listings) and the Debt Capital Markets Financing for Infrastructure Development Awards.
The Largest Commercial Paper on FMDQ Award went to Dangote Cement Plc; the Regulator Market Transformation Initiative Awards went to the Securities and Exchange Commission (SEC) for its efforts at empowering investors and issuers with the choice of depositories by the registration of FMDQ Depository, and the Central Bank of Nigeria (CBN) for financial inclusion by establishing payment services (digital) banks, as voted by FMDQ Members and clients.
To ensure the full integrity of the award winners selection process, the statement continued, a validation exercise was conducted by Ernst & Young Nigeria, a global leader in assurance services, and a certification issued to validate the integrity of the process.
Welcoming guests to the Conference, Okwu Joseph Nnanna, Chairman, FMDQ, who was represented by Jibril Aku, Vice Chairman, FMDQ, commended all stakeholders for the support given to FMDQ thus far. He assured of the group’s resolve to continue providing a platform to power growth and foster the strengthening of the broader Nigerian financial market.
In his Keynote Address, Vice President Yemi Osinbajo, represented by the acting
Director-General of the SEC, Ms. Mary Uduk, underscored the importance of the capital markets to achieving Nigeria’s Economic Recovery and Growth Plan.
He noted the pivotal role being played by FMDQ in transforming the Nigerian financial market, calling for greater commitment from the private sector to complement the government’s efforts especially in the area of infrastructure development.
Also, the CBN Governor, Godwin Emefiele, represented by Emmanuel Ukeje, his Special Adviser on Financial Markets, also noted the continued relevance of the capital markets to the much-desired turnaround of the Nigerian economy.
He commended the FMDQ for setting the pace and championing innovative solutions as part of steps toward aligning the domestic markets to their international counterparts and achieving global competitiveness.
Speaking on Nigeria as a compelling destination of capital, in line with the conference theme, Dr Adeyemi Dipeolu, Special Adviser to the President on Economic Matters, Office of the Vice President (OVP), highlighted the role of the private sector in leading Nigeria’s desired growth.
From the high-powered presentations and sharing of country experiences to constructive panel sessions, drawing from the experiences of model markets and subject-matter experts, the conference delved into discussions shaping strategies into improving capital inflows. Participants also looked at opportunities for operational excellence for Financial Market Infrastructures (FMI), building a thriving derivatives market and other product/market development focus, sustainably financing infrastructure projects, promoting a green path to economic development, amongst others
Photo caption: From left to right, Jibril Aku, Vice Chairman, FMDQ Group; Ms. Patience Oniha, Director-General, DMO, Nigeria; Babajide Sanwo-Olu, Executive Governor, Lagos State; Ms. Mary Uduk, Acting Director-General, SEC, Nigeria (representing Vice President of the Federal Republic of Nigeria); Bola Onadele. Koko, Managing Director/CEO, FMDQ Securities Exchange; and Emmanuel Ukeje, Special Adviser to the CBN Governor on Financial Markets (representing the CBN Governor); during the presentation of the FMDQ Markets Enabler Award to the Lagos State Governor at the 2019 FMDQ GOLD Awards in Lagos at the weekend.