The Money Market Association of Nigeria (MMAN) has officially changed its name to the Financial Market Dealers Association (FMDA). The move is aimed at repositioning the association to tackle the inherent challenges in the Nigerian and global financial systems.
The name amendment decision was ratified during the 18th Delegates Conference/Annual General Meeting of the association on May 23, 2009 in Lagos.
According to a statement made available THISDAY, and signed by its Executive Secretary, Wale Abe, a new Governing Council and Board of Trustees (BoT) have also been sworn in.
The Governing Council has Mr. Akinsowon Dawodu and Mrs. Femi Owopetu as President and Vice-President respectively while Sam Ocheho and Babatunde Adama are members.
Other members include, Bolaji Shenjobi, Ini Ebong and Yomi Oluyomi who were sworn in as Ex-Officio members.
Also, Director, Banking Operations, CBN, Mr. J.K.A Olekah; Ag.Director, Trade & Exchange, CBN, Mr. Musa Batari; Director-General, Debt Management Office (DMO), Dr. Abraham Nwankwo and Registrar/ Chief Executive, Chartered Institute of Bankers of Nigeria, Dr. Uju Ogubunka are to serve in an advisory capacity.
The event also witnessed the inauguration of three members of the BoT, including Group Managing Director/CEO, Access Bank Plc, Mr. Aigboje Aig-Imoukhuede; Executive Director, Ecobank Nigeria Plc, Mr. Jubril Aku and President, Financial Datanet House Limited, Mr. Bola Onadele among other members.
Outgoing Chairman, Caretaker Committee, Bolaji Shenjobi, whose team was given the mandate to oversee the successful repositioning exercise, expressed appreciation for the support accorded the team and urged the association to provide same level of support to the new Governing Council.
The newly elected president however thanked members for their kind word and support.
He pledged in his acceptance speech to make market development with regards to infrastructure (automation and process efficiency), product and human capital his primary goals.
He said his team will build on the great legacy left behind by his predecessors while calling for wider participation in the association’s activities.