FMDQ Group appoints Muhammad Abdullahi as chairman

FMDQ Group Plc (“FMDQ Group”), Africa’s first vertically integrated financial market infrastructure (“FMI”) group, has appointed Muhammad Sani Abdullahi as chairman of the board, effective Friday, April 26, 2024. The appointment follows the retirement of Kingsley Obiora, the fourth chairman, effective September 2023.

Muhammad Sani Abdullahi brings with him a wealth of experience and expertise, having held key leadership positions in the private, public, and international development sectors. Currently, he serves as the deputy governor of the Economic Policy Directorate at the Central Bank of Nigeria, overseeing critical aspects of economic policy and development.

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He commenced his career in the banking sector, and transitioned to public service, holding significant positions in the government of Kaduna State, serving as the commissioner of economic planning and budget and subsequently as the chief of staff to the state governor.

Additionally, he served as the chairman of the Infrastructure Council overseeing the largest infrastructure expansion in the state’s history and coordinated economic and social infrastructure portfolios across the 23 local government areas of the state. He also previously served as a member of the World Bank expert advisory council and as a policy adviser at the executive office of the United Nations Secretary-General in New York.

Abdullahi has also contributed his expertise to organisations such as Athal Consulting Limited, the Carter Center, and the National Democratic Institute. His ongoing doctoral research at the Henley Business School, Reading University, United Kingdom, focuses on Global Value Chains, Informality and Development in Sub-Saharan Africa.

Speaking on his appointment, Abdullahi stated, “FMDQ Group has established itself as a beacon of innovation and excellence in the Nigerian financial markets since its inception just over ten (10) years ago. It is an absolute honour for me to join this significantly important financial market infrastructure, and I am committed not only to maintaining this legacy but also enhancing it to meet the evolving demands of our time. This appointment provides further opportunity to contribute more profoundly to an institution that plays a pivotal role in the economic development of our nation. Together with my esteemed colleagues on the Board, I am excited to steer FMDQ Group and its markets to new heights of success and transformation.”

In congratulating Abdullahi, Bola Onadele. Koko, the CEO, FMDQ Group, said, “The entire FMDQ ecosystem is delighted to welcome Muhammad Sani Abdullahi on board. We are confident that his wealth of experience and illustrious expertise make him more than capable of leading our organisation to greater heights of growth and excellence. His appointment signifies FMDQ Group’s commitment to maintaining strong governance and strategic leadership as it continues to drive innovation and development across the Nigerian financial markets. We extend our warmest congratulations to Muhammad Sani Abdullahi on his new role and express our gratitude to Kingsley Obiora, for his significant contributions during his tenure.”

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FMDQ Group is Africa’s first vertically integrated FMI group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading platform, clearing & central counterparty, and settlement services for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Securities Exchange Limited, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.

As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.