Membership Services

MEMBERSHIP CRITERIA


(i) Corporate
  • Corporate membership is open to all corporations cutting across sectorial lines viz: Banking and Finance, Non-bank financial institutions (who are involved in the Naira, foreign exchange and or Government securities trading) as well as multinationals with minimum turn-over of N10billion.
  • Here, prospective members are required to fill-out and submit Membership Application Forms with a cover application letter to the secretariat.
  • Upon receipt, the application is circulated to all existing members for consent or objection as the case may be, within two weeks.
  • Should there be any objection to the admission; the reasons shall be brought before the membership committee for their decision.
  • Should there be no objection, the organization will be required to make some  relevant payments to confirm its admission.
(ii) Individual

Individual membership can be categorized into two, viz: Member, Associate, Member and Fellow.

  • The Members are required to have written and passed the Treasurers’ Dealership Examination and have been admitted as members of the Association prior to their Induction.
  • They will be required to fill-out and submit a Membership Application Form.
  • These candidates will be required to make relevant payments to confirm their admission.

BENEFITS OF MEMBERSHIP


Some of the benefits of the membership of the Financial Markets Dealers Association of Nigeria include:
Relationship with Policy Makers/Regulators

As a member, your organization would be able to leverage on the relationships the Association has since established with policy makers/regulators and multilateral organizations such as the Central Bank of Nigeria, Debt Management Office, NDIC, Ministry of Finance, National Assembly, World Bank and IMF to mention a few, towards influencing public opinion and government policies especially as they relate to the financial sector.

Policy Advocacy

In the light of such relationship above, the Association uses this strategic tool to address short and long-term challenges that member organizations face. FMDA conducts research to gather information in support of evidence-based advocacy. This mechanism is used to influence policies that are meant to protect the best interest of its members as well as the economy as a whole.

Market Development

The Association has, over the years, been involved in developing infrastructures and products as well as promoting conditions necessary for market development and deepening via its Market Development Committee. Your membership of the Association would enable you not only to benefit from the series of products developed but also make you part of the driving force for market development activities from your organization’s perspective.

Skills Enhancement

One of the objectives of the Association is to enhance the skills of its members by organizing or facilitating high quality training. To this end, the Association has continued to update of its training programmes, which are organized directly or in collaboration with both local and international notable training institutions. As a member of the Association, your staff members would not only have access to these training programmes but also benefit from the subsidy available to members.

Authorized Dealers’ Directory

As a member of the Association, your organization and your dealing staff members would be listed on the Authorized Dealers’ Directory (ADD) which keeps you in contact with all financial markets dealers and members of the Association at any point in time.

Specialized Library/Resource Centre

The secretariat is currently working on its resource centre/specialized library where member organizations can consult materials freely.

How to be a member


Prospective member is expected to forward with an official seal of the organization on the application letter accompanied with the following documents:
  1. Certificate of Incorporation
  2. Memorandum and Articles of Association
  3. List of Bankers
  4. Reference letter from at least one of Bankers confirming company as its customer
  5. Approval from the Regulators for Trading/Investment Activities
  6. Corporate Brochure
  7. A non refundable cheque or draft of N100,000.00 only (one hundred thousand naira) being application fee in favour of Financial Markets Dealers Association