Lagos State Governor Babajide Sanwo-Olu has described FMDQ Group Plc as a significant partner in the state’s and Nigeria’s economic development.
Sanwo-Olu made the remarks during FMDQ Group’s 10th anniversary celebration on Friday night in Lagos, which had the theme “Celebrating a Decade of Innovation in the Nigerian Financial Market.”
He stated that FMDQ Group had played a critical role in the state’s development programmes.
The governor also praised FMDQ and the Lagos State Government for their ongoing engagement in sustainable finance.
“FMDQ’s commitment to sustainable finance is inextricably linked to the state’s shared objective of a more sustainable and environmentally friendly climate,” he said.
Sanwo-Olu stated that the Lagos State Government would continue to work with the company to help it grow and prosper.
He expressed confidence that the collaboration would continue to produce outstanding results.
The governor hailed the tenth anniversary as a celebration of a decade of innovation, development, and unwavering commitment to the advancement of the financial industry.
He claimed that the FMDQ Group’s journey over the previous ten years had been characterized by the pursuit of excellence, innovation, and remarkable achievement.
He believes that the company’s distinctive colour represents success, excellence, wealth, and persistence.
“FMDQ has every reason to rejoice because it has been a guiding light in our financial market and has shaped the path of the nation’s financial market,” Sanwo-Olu remarked.
He praised the group for its contribution to the nation’s economic growth and prosperity.
“The future looks bright; together, we will continue to establish a robust and competitive global capital market that benefits all stakeholders,” stated the governor.
According to the News Agency of Nigeria (NAN), Mrs. Alake Sanusi, the Permanent Secretary of the Lagos Debt Management Office, represented Sanwo-Olu at the ceremony.
Mr. Lamido Yuguda, Director-General of the Securities and Exchange Commission (SEC), also spoke and praised FMDQ Group for its achievements over the last decade.
Yuguda stated that the achievement was a monument to the incredible path of expansion and evolution that has left an indelible mark on Nigeria’s financial landscape.
He stated that the SEC, as the capital market’s apex regulator, would continue to support and champion market expansion and innovation while preserving a regulatory framework that fosters financial market stability and justice.
According to him, the commission works consciously to create a regulatory climate in which capital market players and financial market infrastructure such as FMDQ can prosper.
“Today, FMDQ Growth is a profitable incubating capital market infrastructure firm that provides financial market transactions with smooth execution, clearing, and settlement services.”
“FMDQ Group has undergone a remarkable transition and played a vital role within the financial market scene over the previous decade,” he said.
According to Yuguda, the organisation has evolved into a powerful capital market infrastructure group known for making major contributions across the capital market value chain.
He stated that the group’s dedication to raising the Nigerian financial market to global standards was in line with the SEC’s aim of creating a vibrant and globally competitive market.
“As FMDQ Group moves forward, it is critical to maintain strong corporate governance, foster a culture of quality and honesty, and assure a commitment to regulatory compliance and collaboration.”
“In the future, we hope to continue collaborating on sustainable growth and innovation.”
“The SEC is critical to the development and modernization of the country’s financial market, and the commission will continue to put in place measures that assist the market’s and its operators’ growth, such as FMDQ.”
“For another decade of innovation, development, and excellence, SEC extends its heartfelt greetings to FMDQ Group,” Yuguda remarked.
Earlier, Mr. Jibril Aku, acting Group Chairman of FMDQ Group Plc, stated that the company was pleased to honour a decade of quality, innovation, and resilience.
Aku praised FMDQ Group’s board, management, and employees for the company’s growth and development over the last decade, emphasising that FMDQ has become an important institution in the Nigerian capital market.
The chairman praised FMDQ’s promoters and other stakeholders who assisted in growing and shaping the organisation into a formidable institution in the Nigerian capital market.
He also praised market players, regulators, and other stakeholders for continually going above and beyond to help FMDQ become a financial market powerhouse.