FMDQ Group Achieves Record Financials, Pays Out First-Ever Cash Dividend

FMDQ Group PLC has reported a remarkable financial performance for the year 2024, despite global and domestic macroeconomic headwinds.

The company’s revenue grew by 49.93% to a record ₦51.41 billion, while profit before tax increased by 65.54% to ₦23.23 billion.

At the company’s hybrid Annual General Meeting held last Friday, and in recognition of its strong financial performance, FMDQ Group’s declared a first-ever cash dividend of ₦0.20 per share, totaling ₦5.20 billion. This move demonstrates the company’s commitment to delivering long-term value and returns to its shareholders.

The company’s subsidiaries, including FMDQ Exchange, FMDQ Clear, FMDQ Depository, and FMDQ Private Markets, delivered innovative market solutions and value-added services, reaffirming FMDQ’s pivotal role in Nigeria’s financial markets.

FMDQ Group’s achievements in 2024 include the expansion of its Exchange-Traded Derivatives (ETD) market, deployment of a new price discovery module, and receipt of international certifications for its financial markets education initiative, FMDQ Academy.

‎Reflecting on the Group’s journey in 2024, the pioneer Chief Executive Officer, FMDQ Group, Mr. Bola Onadele. Koko, who retired from the Group on June 30, 2025, noted in his CEO’s Review, that the year marked the successful conclusion of the fourth year of the Group’s 2021 – 2025 Strategic Horizon.

‎ He stated, “Through a focused commitment to our strategic priorities, FMDQ Group continued to strengthen the resilience of the Nigerian financial markets, deepen stakeholder engagement, and reinforce its leadership as a financial market infrastructure (FMI) group. As we enter the final year of our current Strategic Horizon, our efforts remain on consolidating our achievements and delivering on key initiatives across our markets. FMDQ Exchange will prioritise the activation of the Repo Market, the launch of the FMDQ Equity Market and Unsponsored Depositary Receipts Market, while continuing to build capacity through FMDQ Academy by incorporating the Academy as a standalone entity. FMDQ Clear remains committed to delivering world-class CCP services and will advance its global aspirations by strategically positioning itself for recognition as a leading international CCP. FMDQ Depository will expand its service offerings to include Equity Market depository services, pursue global affiliations, and deepen market confidence through enhanced operational excellence. A key milestone for FMDQ Private Markets in 2025 will be the launch of the ARTIS DealRoom, a transformative digital platform designed to connect vendors with Qualified Institutional Investors and facilitate efficient deal-making within the supply chain market. Underpinning all these will be the Group’s continued drive for operational agility, corporate innovation, and financial resilience as it prepares to chart the next chapter in its strategic evolution”.

‎He further stated that “As I conclude my tenure as Chief Executive Officer of FMDQ Group, after twelve (12) years of leading, shaping, and stewarding this great institution we have all built, I do so with a profound sense of pride and gratitude. The organisation we have built together is strong, not only in its structure, but in its people, values, impact and vision. In times of transition, we are reminded that leadership is not about permanence, but about legacy, and building institutions that endure beyond individuals. I leave knowing that FMDQ Group’s foundations are solid, its direction is sound, and its best years are indeed yet ahead.”

‎According to the Ag. Chief Executive Officer, FMDQ Group, Ms. Kaodi Ugoji, “The remarkable strides recorded by FMDQ Group in 2024 are a testament to the visionary leadership and strategic direction of our Board of Directors – across the Group and its subsidiaries – as well as the professionalism, resilience, and commitment of its Management and Staff. These achievements were made possible through the steadfast support of the Group’s esteemed stakeholders, including its shareholders, regulators, Members, and participants, whose collaboration continues to strengthen the integrity and vibrance of the Nigerian financial markets. As FMDQ Group looks to the future with renewed purpose, it remains confident in its ability to navigate an evolving landscape with courage and clarity, and will continue to forge ahead, guided by its dream in motion, “Born Local…Going Global”.