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FMDA denies signing MoU with Chartered Institute of Stockbrokers

The Financial Markets Dealers Association of Nigeria (FMDA) has faulted an incorrect report published in one of the national dailies claiming that it signed Memorandum of Understanding (MoU) with four other professional bodies to float the Chartered Institute of Securities and Investment of Nigeria (CISI).

“We wish to strongly state our utmost displeasure in the incorrect presentation of facts as this misrepresents the position of the Financial Market Dealers Association (FMDA) which has been clearly stated and communicated to the Chartered Institute of Stock Brokers (CIS) to the effect that the Association will not accede to signing the MoU from the Chartered Institute of Stockbrokers,” FMDA said in a statement.

“This is for clarification and record purposes to the general public and all stakeholders,” it said.

The FMDA was created to develop financial market infrastructure, human capital and promote professional and ethical standards in treasury activities in Nigeria.

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