Financial Markets Dealers Association

Established in 1989, the Financial Markets Dealers Association of Nigeria (FMDA) is a self-regulatory organization (SRO) for Nigeria's over-the-counter (OTC) financial markets. Its primary mission is to promote the development of the Nigerian financial markets, foster professional and ethical conduct among its members, and facilitate a transparent and efficient trading environment. The association acts as a crucial intermediary between its member institutions (which include licensed Deposit Money Banks) and financial regulators like the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), providing advocacy, education, and market development initiatives.