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>CBN’s Sarah Alade Becomes New FMDQ And AFC Chairman

Mrs Sarah Alade, Deputy Governor, Economic Policy Directorate, Central Bank of Nigeria (CBN), has emerged the new Chairman of the Board of Financial Market Dealers Quotation (FMDQ) Plc.The board of Africa Finance Corporation (AFC) has also elected Alade as its chairman.
Also appointed into the board of directors of the corporation is Lamido Yuguda, director of reserves management at the CBN.
Sarah Alade, the deputy governor, economic policy directorate, Central Bank of Nigeria (CBN)
Alade’s nomination, according to the News Agency of Nigeria (NAN), was disclosed at the FMDQ’s second annual general meeting on Thursday in Lagos.

She will replace Aigboje Aig-Imoukhuede who retires on August 1 as FMDQ board chairman at the AGM.

Speaking at the meeting, Mr. Aigboje Aig-Imoukhuede urged the management and shareholders of the company to cooperate with the new chairman in an effort to move the company higher.

Aig-Imoukhuede also commended the board members and shareholders for their harmonious working relationship in the past four years.

Also speaking, Bola Onadele, FMDQ managing director, said the company would continue to promote market development through the provision of infrastructure and governance structure in the Nigerian financial market.

Other FMDQ board nominees are Olabisi Onasanya, managing director, First Bank of Nigeria Ltd.; Peter Amangbo, managing director, Zenith Bank and Phillips Oduoza, managing director, UBA Plc.

It is owned by 25 banks, the Central Bank of Nigeria (CBN), the Finance Dealers Association and the Nigerian Stock Exchange (NSE).

The FMDQ OTC is a securities exchange for listing and trading of fixed income products and currency derivatives to offer financial security.
The board of AFC also has elected Sarah Alade as its chairman.

The corporation said in a release last night that the development, which was part of the corporation’s board succession process, followed the retirement of Adebayo Ogunlesi and Aliyu Dikko from the board.

Commenting on the changes, Andrew Alli, AFC president and chief executive officer, said: “On behalf of the board, I would like to offer my warmest thanks to our out-going chairman and to Aliyu Dikko for their service. Ogunlesi has served with distinction for the last 5 years. He has provided invaluable guidance and support as we have built the corporation into one of Africa’s leading multilateral finance institutions.

Others are Sadiq Mohammed, managing director, ARM Pension Managers and Bayo Adeyemo, country treasurer & markets head, Citibank Nigeria Ltd.
FMDQ OTC platform inaugurated on November 7 was licensed by the Securities and Exchange Commission (SEC) in 2012 to provide oversight on the OTC market in Nigeria.


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