“Nigeria Macroeconomic Developments and Outlook: IMF View”, is the theme of the quarterly meeting of the Financial Markets Dealers Association, FMDA, to be hosted by First Bank in Lagos this Friday, 16th September, 2022.
The keynote address will be delivered by Ari Aisen, IMF Resident Representative for Nigeria.
In a statement, the Acting Executive Secretary, Mrs. Mary Gbegbaje, said that the FMDA quarterly meeting serves as a platform for in-depth knowledge sharing, dissemination of information and fostering of business relationships of members in treasury market practice which consists of Treasurers, Analysts and other market players from insurance, pension funds, government and regulatory bodies in Nigeria. Participants expected at the event include delegates from all banks, customers and other invitees.
The Executive Director, Treasury, Financial Institutions & International Banking, First Bank Nigeria Limited, Ini Ebong, said the Bank was delighted to host the 2022 quarterly meeting because it considers FMDA as a platform that is pivotal to the continued growth of the financial market in the country.
According to the First Bank ED: “We are excited with the successes so far achieved by our noble Association – FMDA – as with the right regulatory and risk management framework, we have been able to impact and promote fairness in the activities of members, whilst providing the enabling environment to promote business performance and positively impact the national economy. With the knowledge and insights shared in the course of the quarterly meeting, we would further deepen our resolve towards the unrelenting role we play in the economy”.
FMDA, formerly known as the Money Market Association of Nigeria, MMAN, is the principal interface with the monetary authorities through policy advocacy and engagement aimed at promoting sound markets and ethical conducts comparable to international standards that facilitate liquidity, transparency and price discovery and engendering market deepening.
It is a self regulatory body initially registered in 1989 and its objectives are:
- To provide a meeting forum for all members in the financial institutions or Financial related dealing/trading occupations.
- To provide a meeting forum for members dealing in Money, Securities, Bonds, Equity & Proprietary Trading and Foreign Exchange market institutions.
- To create public awareness, thereby promoting the demand for Financial Market instruments.
- To provide a forum for presenting the views of members on any matters/issue that may affect Money, Bonds, Equity Proprietary, Foreign Exchange Market Dealings, Swaps and Derivatives.
- To contribute to the development of the Financial Markets through education, market practices, technical advice and networking events.
- To increase awareness of the Money, Bonds, Equity Proprietary, Foreign Exchange Market dealing/trading activities and other related issues through seminars, lectures and other fora.
- To collaborate as appropriate with government and other regulatory bodies in formulating policies on monetary issues and in carrying out Money, Bonds, Equity Proprietary, Foreign Exchange Market functions and the likes.