FMDQ's Zeal Akaraiwe Advocates for Hedging Market Growth

Zeal Akaraiwe, the Managing Director and Chief Executive Officer of FMDQ Group, called on Nigerian regulators and market infrastructure institutions to develop deeper hedging markets while foreign exchange conditions are stable. Speaking at an investor meeting in Singapore, Akaraiwe emphasized the importance of proactive measures, stating, “Nobody builds during a storm.” He acknowledged the Central Bank of Nigeria's (CBN) aggressive efforts to support market development and credited it with enhancing credibility and predictability in Nigeria’s financial markets.

Akaraiwe highlighted the need for innovation in products that help manage currency and financial risks, asserting that foreign investors require confidence in predictable exit conditions. He also advocated for technology-driven exchange-control monitoring and stronger professional competency.

Akaraiwe, who became CEO of FMDQ Group in June 2026, succeeded Bola Onadele Koko, and his comments build on previous derivatives initiatives. Current market data shows that spot transactions dominate Nigeria’s foreign exchange activity, with derivatives only accounting for 3.81% of total FX turnover.