Lagos, Nigeria – August 12, 2025
FMDQ Group Plc, owners of Nigeria’s fixed income securities exchange, has announced plans to launch an equities market, a move that could position it as a future competitor to the Nigerian Exchange Group (NGX).
The update was disclosed during the company’s 13th Annual General Meeting (AGM) held at Exchange Place, Victoria Island, Lagos, and detailed in an official press release issued on July 29, 2025.
Group Chairman, Dr. Jibril Aku, said the equities market initiative is part of FMDQ’s strategic priorities, alongside the creation of an Unsponsored Depositary Receipts Market. He also revealed that the Exchange has extended the tenor of its long-dated FX Futures contracts, increasing available durations from 12 to 21 months by introducing a 13-month contract and eight consecutive quarterly contracts.
The changes aim to provide enhanced risk-management options for long-term investors and deepen Nigeria’s capital markets. FMDQ also declared its maiden cash dividend of ₦0.20 per share, amounting to ₦5.2 billion, and reaffirmed its commitment to expanding market infrastructure across trading, clearing, and settlement services.