Sarah Alade, Chairman FMDQ OTC Securities Exchange

The shareholders of FMDQ OTC Securities Exchange on Friday reappointed KPMG Professional Services to serve as the company’s external auditors for another year.

The company said in statement that the shareholders gave the approval at its fourth Annual General Meeting (AGM) held in Lagos for the financial year ended Dec. 31, 2015.

The statement said that the shareholders at the meeting authorised the directors to fix the external auditors’ remuneration.

It quoted Dr Sarah Alade, the company’s Chairman as saying that FMDQ during the review period worked hard to position itself as Nigeria’s foremost debt capital market securities exchange.

The statement said that the company in 2015 listed Federal Government of Nigeria (FGN) bonds and several corporate bonds as well as quoted Nigerian Treasury Bills and commercial papers.

It added that the exchange successfully organised the FMDQ 2015 Nigerian Debt Capital Market (DCM) workshop as part of its contribution to deepen Nigerian financial market space.

The statement said that the company remained committed to initiating and engaging in initiatives that would develop and make the FMDQ markets globally competitive.

This, according to the statement, will improve liquidity, transparency, governance and efficiency in the markets in 2016.

It added that commenting on the company’s performance, Mr Bola Onadele , FMDQ Managing Director, appreciated all stakeholders for their diverse contributions toward ensuring a successful 2015 for the exchange.

It noted that Onadele promised the shareholders that the company in 2016 would not rest on its oars as it remained poised to consolidate on the progress already made.

The statement said the company would ensure that the Nigerian financial markets were continually empowered to be innovative and credible in support of the nation’s economy.

FMDQ was officially launched in November 2013 with a mandate to work with stakeholders to develop the Nigerian OTC market. (NAN)