An organization dedicated to fostering the development of the Nigerian financial markets, FMDQ Securities Exchange Plc, has promised to provide new interventions that would improve Nigeria’s economy, currently experiencing a decline.
In a statement, Bola Onadele Koko, the Managing Director of FMDQ Securities Exchange Plc, hinted that Small and Medium Enterprises (SMEs) and companies in the private sector would be the key focus of the security exchange for the future.
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Further details: Onadele Koko also stated that the security exchange was premised on making funds available for startups that lacked financing to scale their businesses. He also stated that this new plan wasn’t a competition with the Stock Exchange but an ease of doing business feature that would benefit businesses in the Nigerian ecosystem.
“We are not playing the game of attacking the NSE. That is not our role or our job or the way we do business. Rather, we are looking at how to create new entities for the future, to work and nurture them, to work with SMEs, private companies in Nigeria which don’t access to long term financing.
“So, we are in the business of planning 20-30 years ahead and working with Nigerian entities in getting prosperity to Nigerians.”
Onadele promised to make the shares of the security exchange available to the investing public. He, however, explained that his team was still putting final touches to the equities and would be ready when the shares have been listed.
Backed by the dream to become the foremost portal for a highly diverse exchange platform, FMDG is embracing the innovation of technology and massive collaboration across board to create a big financial market in Africa.
Direction: The FMDQ stated that the exchange was looking at trading in all securities including:
- fixed Income;
- commodities; and
- foreign exchange.
About FMDQ: Registered by the Securities and Exchange Commission, (SEC) as an OTC Market in 2012, the core focus of FMDQ Securities Exchange PLC (FMDQ Exchange) is to organize and deepen the Nigerian financial markets. It also creates an efficient platform for the registration, listing, quotation, noting, trading and reporting of securities and financial products.