governance structure
Past FMDA Presidents
Drawn from the leadership of the various workgroups, the Governing Council sets strategic direction, takes key policy decisions and steers the overall affairs of the Association. They translate market realities into actionable governance, ensuring that the Association remains responsive, credible and relevant within the financial markets.
Charles Adiukwu
(1991–1993)
Mr. Charles Adiukwu was a pioneering Nigerian financial markets leader, known for his early contributions to institutional market development in Nigeria. He held senior leadership positions in financial institutions, including roles in banking and securities trading. As the first President of the then Money Market Association of Nigeria now FMDA, he helped shape the early direction of professional treasury practice in the country.
Steve Akinretoye
(1993–1995)
Mr. Steve Akinretoye served as the second President of the then Money Market Association of Nigeria now FMDA, his leadership period was marked by the Association’s expanding engagement with market practitioners and the formalization of membership structures as Nigeria’s financial markets grew.
Jibril Aku
(1995–1996)
Dr. Jibril Aku is a respected Nigerian financial markets expert who later went on to serve in senior leadership roles in the broader financial industry, including as Group Chairman of Marathon Asset and Funds Management Limited and as a senior board member of FMDQ Group. His career spans strategic roles in banking, treasury and capital market infrastructure. He served as the third President of the Association.
Tunji Cole (deceased)
(1996–1998)
Mr. Tunji Cole led the Association during a dynamic phase of financial market liberalization. His leadership helped sustain the Association’s as Nigeria’s money and foreign exchange markets evolved.
A.W. Abayomi
(1998 – 2000)
Mr. A.W. Abayomi guided FMDA at the turn of the millennium as the Association deepened engagement with banks, discount houses and regulatory bodies. His Presidency contributed to solidifying FMDA’s professional standards.
Alhaji Deda Atta
(2000)
Alhaji Deda Atta’s Presidency coincided with ongoing market reforms. He played a role in transitioning FMDA into the 21st century alongside sector growth. He served as the sixth President of the then Money Market Association of Nigeria now FMDA.
Laoye Jaiyeola
(2001–2002)
Mr. Laoye Jaiyeola is a seasoned financial services professional with extensive experience in treasury and capital markets. Later in his career he has been involved in market leadership and policy dialogue in Nigeria’s financial sector. He served as the seventh President of the then Money Market Association of Nigeria now FMDA.
Gabriel Edgal
(2003)
Mr. Gabriel Edgal’s leadership as eighth President of the Association supported continued networking among market dealers and helped expand the Association’s visibility within Nigeria’s financial environment.
Funso Sobande
(2004–2005)
Mr. Funso Sobande steered Money Market Association of Nigeria now FMDA during a period when foreign exchange and debt markets were gaining prominence, helping to focus members on skill development and professional competencies.
Bolaji Shenjobi
(2006–2008)
Mr. Bolaji Shenjobi led the Association through a time of market growth and structural change. His presidency coincided with efforts to strengthen market practices and deepen institutional participation.
Akinsowon Dawodu
(2009–2012)
Mr. Akinsowon Dawodu played a pivotal role in shaping the Financial Markets Dealers Association (FMDA) during his tenure as President from 2009 to 2012. Under his leadership, the organization transitioned from the Money Market Association of Nigeria (MMAN) to FMDA, laying the groundwork for the establishment of FMDQ OTC. This transformation significantly impacted the financial market landscape, driving innovation in market infrastructure and new product development, while enhancing self-regulatory operations (SRO) and engagement with market regulators.
Sola Adegbesan
(2012–2014)
Under Sola Adegbesan, FMDA’s work on ethical standards and educational forums for dealers expanded further, aligning the association more closely with international financial market norms.
David Adepoju
(2014–2016)
David Adepoju’s presidency saw FMDA deepen partnerships with banks, regulatory stakeholders and professional bodies fostering market transparency and skill advancement among practitioners.
Samuel Ocheho
(2016–2018)
Mr. Samuel Ocheho led FMDA at a time when global financial disruptions were influencing domestic markets. His leadership reinforced the association’s advocacy role and hosted influential forums for market discourse
Adetoun Dosunmu
(2018–2021)
Mrs. Adetoun Dosunmu, the first female President of Association. During her tenor, she led FMDA through significant economic cycles, emphasizing professionalism, ethical conduct, and enhanced capacity building to strengthen member competencies in treasury and trading roles.
Bayo Adeyemo
(2021–2023)
Bayo Adeyemo’s tenure focused on advancing FMDA’s relevance amidst evolving financial markets, with attention on education, advocacy and creating opportunities for emerging dealers and institutional involvement.
Nadia Zakari
(2023–2025)
Nadia Zakari is an accomplished financial market professional with deep experience in foreign exchange, money markets and fixed income. She has served as Head of Markets at Rand Merchant Bank Nigeria, where she led market activities across asset classes and emphasised professionalism and market collaboration as FMDA President.