FMDQ Group has granted its Chief Executive Officer, Bola Onadele, a substantial equity award of 1.3 billion ordinary shares, estimated at ₦9.9 billion, as part of its long-term incentive and reward structure for top executives. The announcement, contained in a recent corporate disclosure, indicates that the allocation is intended to recognize outstanding leadership and sustained contributions to the company’s growth.
According to details released by the company, the share award forms part of FMDQ’s Executive Share Scheme, which also extended benefits to other senior management members. Although the precise number of shares allotted to each executive was not disclosed, the statement confirmed that the distribution is in line with the group’s strategic retention plan for its leadership team.
Bola Onadele, who has served as CEO since the company’s inception in 2013, is credited with transforming FMDQ from a fledgling securities exchange into a dominant player in Nigeria’s financial markets, offering trading, clearing, settlement, and data services. Under his leadership, the company has expanded its product offerings, strengthened market infrastructure, and enhanced Nigeria’s capital market visibility both locally and internationally.
Market analysts note that such a significant equity award signals confidence in the company’s leadership and long-term prospects. They also highlight that rewarding executives with shares aligns their interests with those of shareholders, fostering sustained performance and accountability.
The announcement comes at a time when Nigeria’s capital market is experiencing renewed investor interest, buoyed by macroeconomic reforms and increased participation from institutional investors. FMDQ stated that the equity awards will be subject to vesting conditions, ensuring they serve as a performance-linked incentive rather than an immediate cash-out opportunity.
With this development, industry watchers will be keen to see how the enhanced motivation among the executive team will translate into further market innovation and value creation for stakeholders.