FMDQ, PenCom, sign deal for improved governance

Bola Onadele Koko

FMDQ OTC Securities Exchange has entered into Regulatory Supervision Collaboration Agreement with the National Pension Commission (PenCom). In a statement yesterday, PenCom Director-General, Mrs. Chinelo Anohu-Amazu, said the agreement would enable the realisation of PenCom investment objectives of pension assets and maintenance of fair returns on investment (RoI).

Chair, Board Regulation and Risk Management Committee, FMDQ, represented by independent non-executive Director, Ms. Daisy Ekineh, its Managing Director/CEO, Mr. Bola Onadele and representatives of the Central Bank of Nigeria (CBN) Banking Supervision and Financial Markets Departments and other key representatives from FMDQ and PenCom.

Mr. Onadele said the partnership “will seek to achieve, among other things the Commission objectives (as outlined in the Pension Reform Act, 2014), through data access and visibility of its supervisees’ (Pension Fund Administrators (PFAs)) transactions on FMDQ; improved transparency of all PFAs’ transactions in the Nigerian fixed income market, as well as the money market through the applicable system(s); capacity building sessions for relevant PenCom staff on the use of the applicable system(s); and the development of performance benchmarks for fixed income asset classes: bonds (sovereign, sub-national and corporate), money market securities (treasury bills, commercial papers and others) and fixed deposits.”

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