Zeal Akaraiwe, CEO of FMDQ Group, has called on Nigerian regulators to prioritize the development of deeper foreign exchange hedging markets. Speaking during an investor dialogue in Singapore, Akaraiwe argued that now, while the exchange rate is relatively stable, is the opportune time to introduce more advanced financial products, such as cross-currency swaps and options. Current FMDQ data shows that spot transactions dominate, accounting for over 96% of total FX turnover, underscoring the urgent need to expand derivative products to manage future market risks effectively.