FMDQ Group Declares First-Ever Dividend, Posts Record ₦51.4bn Revenue at 13th AGM

FMDQ Group PLC has announced its first-ever cash dividend following a record-breaking financial year. At its 13th Annual General Meeting (AGM), held in a hybrid format at its headquarters, Exchange Place, Lagos, the Group declared a ₦0.20 per share dividend, totaling ₦5.20 billion, marking a major milestone in the company’s journey.

The AGM, chaired by Group Chairman Dr. Jibril Aku, reviewed the company’s 2024 performance, which saw revenue rise by 49.93% to ₦51.41 billion—up from ₦34.29 billion in 2023. Profit before tax surged by 65.54% to ₦23.23 billion, the highest in the company’s history.

Dr. Aku praised the Group’s resilience in a year marked by economic uncertainty, FX volatility, and high inflation. “This cash dividend reflects our confidence in the Group’s long-term sustainability and our commitment to delivering value to shareholders,” he said.

FMDQ Group’s subsidiaries—FMDQ Exchange, FMDQ Clear, FMDQ Depository, and FMDQ Private Markets—delivered solid results and continued to roll out market-deepening initiatives. FMDQ Exchange extended its FX Futures contracts to 21 months and enhanced trade execution tools. FMDQ Clear maintained its role as central counterparty in the ETD market, while FMDQ Depository grew its security lodgements to ₦1.28 trillion. FMDQ Private Markets also recorded a 44.69% increase in the cumulative value of noted securities, reaching ₦1.13 trillion.

FMDQ Academy, the Group’s financial literacy arm, secured international recognition, receiving certifications from the Learning and Performance Institute (LPI) and CPD UK.

The AGM also marked the retirement of the Group’s pioneer CEO, Mr. Bola Onadele. Koko, who led the company for 12 years. In his farewell remarks, Mr. Koko reflected on the Group’s progress and the successful execution of its ongoing 5-Year Strategic Horizon (2021–2025). “Leadership is about legacy. I’m proud of what we’ve built and confident that FMDQ is prepared for the future,” he said.

Acting CEO, Ms. Kaodi Ugoji, highlighted key priorities for 2025, including the activation of the Repo Market, the launch of the FMDQ Equity Market, and the rollout of the ARTIS DealRoom—a digital platform designed to connect vendors with institutional investors.

She credited the Group’s achievements to strong leadership, a dedicated workforce, and stakeholder collaboration. “We remain committed to deepening the Nigerian financial markets and fulfilling our vision—Born Local…Going Global,” she added.

FMDQ Group, Africa’s first vertically integrated Financial Market Infrastructure (FMI) group, provides a wide range of services across the debt, FX, derivatives, and equity markets. It remains at the forefront of capital market innovation, driving transparency, liquidity, and inclusion in Nigeria’s financial ecosystem.