Dr. Sonnie Babatunde Ayere, Founder and Group Chief Executive Officer of DLM Capital Group, has been elected President of the Finance Houses Association of Nigeria (FHAN). The election, which took place on 10th November 2023, saw Dr. Ayere win unopposed, reflecting his esteemed position within the industry.
FHAN serves as the umbrella organisation for Central Bank of Nigeria (CBN)-licensed finance companies, providing a platform for self-regulation and professional standards within the sector. Established on 11th April 1989, FHAN represents 102 finance companies across Nigeria, working to advance the business interests of its members, uphold ethical governance, and ensure compliance with statutory regulations.
Dr. Ayere brings a wealth of experience to his new role. Previously, he served as Vice President of the Association of Issuing Houses of Nigeria (AIHN) for two terms before he was elected President in 2016. This appointment marks a notable crossover from leading capital markets associations to overseeing lending markets, highlighting his versatility and leadership in Nigeria’s financial sector.
Before founding DLM Capital Group, Dr. Ayere played a pivotal role in the development of Nigeria’s sovereign bond market. In 2004, he led the International Finance Corporation’s (IFC) engagement with the Nigerian Debt Management Office, significantly contributing to the market’s stability and liquidity. The Nigerian Bond market, which debuted in 2006, now boasts a turnover of N23.3 trillion as of September 2023.
Dr. Ayere’s career includes notable positions at the International Finance Corporation, Bank of Montreal Nesbitt Burns in London, HSBC, NatWest Bank, Sumitomo Mitsui Bank, and United Capital. His extensive experience includes advising governments and businesses across Sub-Saharan Africa on complex financial matters.
In his role at DLM Capital Group, a leading Development Investment Bank, Dr. Ayere has focused on creating innovative solutions to economic and social development challenges, aiming to improve the everyday lives of Nigerians.