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Money Market Association of Nigeria

by Nigerian Information Directory on December 19, 2009 · 0 comments

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Money Market Association of Nigeria (the Association) was until recently, an Association of the Treasurers of licensed Banks and Discount Houses in Nigeria.

Its history is embedded in the history of the money market itself. However, in 1976/77 an informal body was started and was formalized and registered on May 12, 1989 under the Land (perpetual Act) Cap 98 with registration No. 5373.

Vision:

While pursuing the development of the market place and its operators, the Association was also concerned about itself and the need to remain relevant and innovative. Thus, in 2001, the Association came up with its VISION agenda by which it set for itself, the target of becoming “An Influential Self Regulating Body That Is A Reference Point For Credible Economic Information, Committed To People And Market development”. The main objectives of its VISION were:

To promote ethical conduct and enhance the skills and competences of members to global standards.
To build economic research capabilities.
To develop infrastructures and promote conditions necessary for market deepening.
To establish a body that will regulate the entire profession.
To influence public opinion and Government policies.

A new vision is to be evolved following the recent changes in the industry as the Association is working towards developing a new Five-Year Strategic Plan to support the new vision.

To promote ethical conduct and enhance the skills and competences of members to global standards

Sustained the Treasurers Dealership Certificate Examination Scheme in collaboration with the CIBN.
Consistently identifying, packaging and delivery of valued training programmes on some occasions with domestic and international partners such as the Euromoney Training, U.K.
Seeking collaboration with similar international associations such as ACI for the international accreditation of TDC as well as bring its programmes in line with international standards.

To build economic research capabilities

Runs a functional library that is second to none for Treasury and related disciplines.
Has a research department in the Secretariat.
Has developed a growing database of economic information.
Has consciously set up the Money, Macroeconomic and Finance Research group (MMFG) with practicing economists and academia.
MMFG has conducted three international conferences with support from the domestic banking industry, international financial institutions, the United States Department of Treasury, the British Department For International Development (DFID) and international scholars.

To develop infrastructures and promote conditions necessary for market deepening

Ensured the smooth operations and publications of NIBOR and NIFEX.
Has consistently pursued the growing popularity of the 2-Way Quote Dealing System.
Has a functional website for the dissemination of information and interactions with stakeholders and other interested parties.
Has developed a platform for Automated/Screen Based Dealing in the Nigerian Money Market.

To establish a body that will regulate the entire profession

As a first major step in pursuit of this objective, the Association recently adopted a new constitution after extensive and painstaking consultations with its stakeholders. The new constitution provides for an enlarged membership base. Thus, membership is now open to individuals and corporate bodies.

To influence public opinion and Government policies

The Association has over the years established working links with Government agencies/parastatals including the National Assembly, Financial Regulatory institutions and Federal Ministry of Finance.

In addition, the Association has a good rapport with media practitioners and utilizes the platform to comment and engage the public on issues of national interest.

The Association is also an active participant in seminars, workshops, review exercises and other cooperative programmes that are geared towards the initiation, review or implementation of policies.

Our Objectives

The main objective of the Association is to develop a virile Nigerian Money Market that would be a force to be reckoned with at both domestic and international levels.

Consequently, the Association strives to ensure that its members are exposed to techniques, practices and current developments in the global market. Conscious effort are also being made to develop and sustain a high level of professionalism amongst members.

Contact Details:

Lagos (Head Office) Plot 1398B, Tiamiyu Savage Street
Victoria Island
Lagos
Tel: 01 2700427-9
Email: mmanhq@moneymarketng.com
Web: www.moneymarketng.com

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