Ayere Becomes Finance Houses Association of Nigeria President

By Aduragbemi Omiyale

Members of the Finance Houses Association of Nigeria (FHAN) have elected the founder of DLM Capital Group, Dr Sonnie Babatunde Ayere, as their president.

FHAN is the umbrella and self-regulatory body of all finance companies licenced by the Central Bank of Nigeria (CBN) to operate in the country.

The group was formed on April 11, 1989, as a professional trade group to advance the business interests of its members, currently at 102, institute sound and ethical corporate governance practices, maintain a standard of conduct for operators, and ensure members’ compliance with statutory regulatory requirements.

At the election of the association held on Friday, November 10, 2023, Mr Ayere was elected to the position unopposed.

Before now, he was elected as vice president of the Association of Issuing Houses (AIHN) for two terms, serving behind two different presidents before leading the organisation in 2016.

Prior to the establishment of DLM Capital Group, Mr Ayere, in 2004, spearheaded the IFC’s engagement in the development of the Nigerian sovereign bond market and served as the principal IFC advisor to the Nigerian Debt Management Office regarding market expansion.

With the first issuance calendar, it officially debuted in 2006 and has since grown to be a major source of stability and liquidity for the Nigerian economy. As of September 2023, the FGN Bond market had a turnover of N23.3 trillion.

Following his nomination by Dr Ngozi Okonjo-Iweala as NMRC task manager, he was later appointed as the first managing director of the Nigeria Mortgage Refinance Company Plc (NMRC).

In 2006, Mrs Okonjo-Iweala, who is presently the Director-General of the World Trade Organisation (WTO), formed the inaugural Nigerian Bond Steering Committee, of which he was initially the only individual member.

In his career to date, Mr Ayere has held positions in the International Finance Corporation, Bank of Montreal Nesbitt Burns in London, HSBC, NatWest Bank, and Sumitomo Mitsui Bank and United Capital. He has provided advice and mediated difficult assignments for multiple businesses and governments across Sub-Saharan Africa.