FMDQ Group PLC Appoints Chief Executive Officer and Welcomes New Board Leadership

FMDQ Group PLC (“FMDQ Group” or the “Group”), Africa’s first vertically integrated financial market infrastructure (“FMI”) group, has announced the appointment of Mr. Zeal Akaraiwe as its Group Managing Director/Chief Executive Officer subject to the approval of the Securities and Exchange Commission. The Group has also strengthened its Board with the appointment of Mr. Funso Sobande as the Chairman of the Board, alongside four (4) additional Directors, marking an important milestone in the Group’s leadership transition and strategic evolution.

Mr. Akaraiwe succeeds Mr. Bola Onadele. Koko, Pioneer Group Managing Director/Chief Executive Officer of FMDQ Group, who retired from the Group in July 2025 after twelve (12) years of distinguished service and transformational leadership. With more than twenty-five (25) years of experience across financial markets, treasury, derivatives, structured finance, risk management, and regulatory advisory, Mr. Akaraiwe brings a wealth of experience gained across Nigeria, Zambia, and the United Kingdom.

Prior to his appointment, Mr. Akaraiwe was the Founder and 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, Mr. Akaraiwe has contributed to the development and execution of financial markets solutions across multiple African markets and has 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.

FMDQ Group has also strengthened its governance framework through the appointment of five (5) accomplished professionals to its Board. In addition to Mr. Funso Sobande’s appointment as Group Chairman, Mr. Joseph Olaoye Jaiyeola and Mrs. Miriam Olusanya have joined the Board as Non-Executive Directors, while Mrs. Kemi Adewole, HCIB, FCIoD, QRD and Mr. Innocent Isichei have been appointed as 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, the Chairman of the Board, Mr. Sobande, said: “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.”

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