By Stanley Onyeka, Lagos
FMDQ Group PLC has announced the appointment of Zeal Akaraiwe, as its Group Managing Director/Chief Executive Officer (GMD/CEO), subject to the approval of the Securities and Exchange Commission (SEC).
The Group said it has also strengthened its Board with the appointment of Funso Sobande, as the Chairman alongside four additional Directors, marking an important milestone in its leadership transition and strategic evolution.
In a statement, Akaraiwe succeeds Bola Onadele. Koko, the pioneer GMD/CEO, who retired from the Group in July 2025 after 12 years of distinguished service and transformational leadership.
With more than 25 years of experience across financial markets, treasury, derivatives, structured finance, risk management, and regulatory advisory, Akaraiwe is said to bring a wealth of experience gained across Nigeria, Zambia, and the United Kingdom.
Prior to his appointment, Akaraiwe was the Founder/CEO of Graeme Blaque Advisory, a specialist financial markets consultancy providing advisory services in derivatives, risk management, and regulatory matters to corporates, financial institutions, and other market participants.
Throughout his career, including his time at Standard Chartered Bank, Akaraiwe contributed to the development and execution of financial markets solutions across multiple African markets.
He also worked extensively with regulators, financial institutions, corporates, and market participants to strengthen market structures, enhance risk management practices, and support the development of financial markets products and infrastructure.
The appointments reflect our commitment to ensuring that the Group continues to be led by individuals with the vision, expertise and integrity required to drive sustainable growth and innovation.
FMDQ Group has also strengthened its governance framework through the appointment of five accomplished professionals to its Board.
In addition to Sobande’s appointment as Group Chairman, Joseph Jaiyeola; and Mrs. Miriam Olusanya, joined the Board as Non-Executive Directors, while Mrs. Kemi Adewole; and Innocent Isichei were appointed Independent Non-Executive Directors.
Collectively, the new Board members bring extensive experience spanning banking, financial markets, treasury, corporate governance, public policy, risk management, and strategic advisory.
Their appointments further enhance the Board’s capacity to provide robust oversight, sound governance, and strategic direction as the Group continues to advance its long-term vision.
Commenting on the appointments, Sobande was quoted as saying: “This is an exciting new chapter for FMDQ Group. These appointments mark an important milestone in the continued evolution of the Group.
“The appointment of Mr. Akaraiwe as Group Managing Director/Chief Executive Officer, together with the strengthening of our Board, reflects our commitment to ensuring that the Group continues to be led by individuals with the vision, expertise and integrity required to drive sustainable growth and innovation.
The new Board brings a wealth of complementary experience and perspectives that will further strengthen the Group’s governance and strategic oversight.
“Together with our talented management team, I am confident that we are well positioned to execute our strategic priorities, create long-term value for our stakeholders and continue advancing the development of efficient, innovative, and globally competitive financial markets.”
