Insuring the growth of safe, liquid and financial efficient markets in Nigeria remains a priority for the Financial Markets Dealers Association of Nigeria (FMDA), its President, Bayo Adeyemo has said.
Speaking at the yearly FMDA conference held in Lagos, he said that such growth would make the Nigerian financial markets strong and reliable partner to market participants now and in the future.
Adeyemo, who is the Country Treasurer & Markets Head, Citibank Nigeria Limited, said there was need for the Nigerian economic structure to work for all despite the economic challenge being experienced in the country.
Speaking at the event, FMDA President, Bayo Adeyemo, said said professionals and regulators in the financial markets have through the diverse topics deliberated at the conference, provided insights on the need to effectively use the financial markets in driving growth in the economy post Covid-19.
He said FMDA was dedicated to deepening human capacity and productive economy. “On behalf of the association and its members, I am grateful to the CBN Governor, our Board of Trustees (BOT) Chairman, CEO of FMDQ and all the sponsors, speakers and attendees at this event for their support in deepening the financial markets,” he said.
“Coronation Merchant Bank, Ecobank Nigeria Limited, Guaranty Trust Bank Limited, Rand Merchant Bank, and FMDQ Group emerged top sponsors of the 2021 Financial Markets Dealers Association of Nigeria (FMDA) annual virtual conference,” he said.
According to him, the conference was designed to provide an opportunity for financial markets participants, regulators, investors, corporate organisations and other stakeholders to deliberate on possible ways of using financial markets infrastructure to facilitate economic recovery and development post Covid-19 pandemic.
CBN Governor, Godwin Emefiele said the financial market was undergoing its litmus test. Emefiele, who was represented by CBN Deputy Director, Financial Markets Department, Patrick Ajani, asked banks to “critically assess their exposures to different sub-sectors while continually leveraging on technology to support their business operations and continuity”.
Chairman, FMDA’s Board of Trustees, Aigboje Aig-Imoukhuede said the significance of the conference could not be underestimated.
He said the pandemic brought the world economy to a standstill. According to him, nations should take steps to protect vulnerable population adding that Nigerian should strengthen the health sector. He said there is need to address the fiscal underinvestment in the health system. Aig-Imoukhuede said Nigerian needs to attract foreign direct investment, aside the diaspora remittances.
In his presentation entitled: ‘The role of derivatives markets in FX liquidity recovery’, Chief Executive […]
