Diamond Bank Plc, a leading retail bank in Nigeria with a track record of quality banking solutions for customers, has been appointed a member of the Board of FMDQ OTC Plc, Nigeria’s foremost debt capital, currencies securities exchange and derivatives over-the-counter securities exchange.
The appointment and induction take effect from July 27, 2018.
According to the letter of appointment sourced from the securities exchange, Diamond Bank’s selection as a member to the board is based on the lender’s leadership in the financial space, which has been adjudged by stakeholders in FMDQ as relevant to FMDQ markets, as well as recognitions as a Financial Market Active Bank (FMAB) and a Systemically Important Bank (SIB).
Commenting on the appointment, Head, Corporate Communications, Diamond Bank Plc, Chioma Afe, described the appointment as a great news to the Board and management of the bank as it not only validated the lender’s strategy but also gave it an opportunity to develop the nation’s financial industry through the securities exchange.
By the appointment, Diamond Bank will work in collaboration with other board members in setting out the broad operational and governance architecture designed to drive the OTC Securities Exchange.
Diamond Bank Plc is a leading Nigerian financial services company, which commenced operations as a private limited liability company on March 21, 1991. In May 2005, it was listed on the Nigerian Stock Exchange.
Today, the bank, in addition to being a leading retail bank also major driver of financial inclusion in the country, is providing enhanced customer experience through innovation and technology.
The FMDQ OTC Securities Exchange (FMDQ) was registered by the Securities and Exchange Commission (SEC), Nigeria, in 2012, and launched in 2013 as an OTC securities exchange with a primary focus on organizing and deepening Nigerian financial markets.
FMDQ OTC Securities Exchange is the debt capital, foreign exchange and derivatives over-the-counter securities exchange, strategically driven to transform the Nigeria financial markets through its “GOLD” (Global Competitiveness, Operational Excellence, Liquidity and Diversity) agenda.
With an average annual market turnover of about N118 trillion over the last three years, FMDQ operates the largest securities exchange in the country.
