The Nation Newspaper

Tag: ASHON

  • ASHON elects Adenagbe chairman

    ASHON elects Adenagbe chairman

    The Association of Securities Dealing Houses of Nigeria (ASHON) has elected Mr. Sehinde Adenagbe as the Chairman of its Governing Board. He succeeded Mr. Sam Onukwue.

    The election, which came after ASHON’s annual general meeting (AGM) in Lagos, also confirmed the election of Ms. Ifeyinwa Ejezie as 1st Vice Chairman and Mr. Oluwadare Adejuwon as 2nd Vice Chairman. The inauguration of the new executives will be announced at a later date.

    Prior to his election,  Adenagbe served as ASHON’s 1st Vice Chairman, where he played a key role in advancing the association’s strategic objectives and promoting collaboration among member firms.

    Analysts said his elevation to chairman underscored his proven leadership, commitment, and long-standing contribution to Nigeria’s capital market.

    Expressing appreciation to members for their confidence, Adenagbe pledged to build on the progress achieved under his predecessor’s leadership.

    READ ALSO: Commanding from the front: Tinubu strengthening national security architecture

    He said: “I am deeply honored by the trust reposed in me to serve as Chairman of ASHON. Together with my colleagues, we will continue to strengthen the association’s advocacy efforts, enhance professional standards, and promote policies that foster a vibrant and sustainable securities market”.

    In his valedictory remarks, Onukwue thanked ASHON members for their support during his tenure and congratulated the new leadership, expressing confidence in their ability to sustain the association’s growth and uphold its core values of professionalism and integrity.

     Adenagbe, the Founder and Chief Executive Officer of Standard Securities, brings over three decades of experience in securities trading and management.

    He holds Master of Business Administration (MBA) from Ladoke Akintola University. He currently serves as a Non-Executive Director at the Nigerian Exchange Limited (NGX).

    The newly elected Governing Council is expected to strengthen ASHON’s engagement with regulators, stakeholders, and market participants to ensure the continued growth and stability of Nigeria’s securities dealing sector.

    Speaking earlier at the AGM, Onukwue emphasised the need for continuous investment in technology and capacity building to help members remain competitive and compliant with evolving regulatory standards.

    He highlighted ASHON’s proactive policy advocacy during the year, noting its active participation in the review of the 2024 Investments and Securities Bill (ISB) and its engagement with key stakeholders on market reforms.

    He said: “ASHON advocated for the upward review of brokerage fees and the introduction of pricing floors and ceilings. We also engaged the SEC on delays in share allotment linked to extended verification processes at the CBN, collaborated with FIRS consultants and NGX on automating VAT assessment and collection via the Sentinel application, and held discussions with NGX to ensure affordable cloud hosting fees for member firms”.

    With its new leadership in place, ASHON reaffirmed its commitment to advancing the Nigerian capital market through collaboration, innovation, and sustained advocacy.

  • CIS, ASHON renew collaborations on capital market development

    CIS, ASHON renew collaborations on capital market development

    Stockbrokers and securities dealing firms have reiterated their commitment to the development of the Nigerian capital market.

    The leadership of Chartered Institute of Stockbrokers (CIS) and Association of Securities Dealing Houses of Nigeria (ASHON) agreed to strengthen their collaborations. CIS comprises individual securities dealers commonly referred to as stockbrokers while ASHON is the umbrella body for all securities dealing firms in Nigeria.

    In his welcome address during the visit of ASHON leadership, led by its Chairman, Sam Onukwue, to CIS, its President, Oluropo Dada said the two bodies should work together in all areas of professionalism to enhance advocacy and overall market development .

    “Your presence is of particular importance to us because of the long-standing relationship between CIS and ASHON which has fostered naturally over the years. As we all know, CIS is the duly chartered professional body of all individual securities dealers in Nigeria, and, as an institute, we acknowledge the contribution of ASHON to the development of our market as the umbrella body of all the securities dealing firms in the country. So, in essence, we are both part of one family and should be working together for the same mutual interest

    Read Also: NAF graduates 61 finance officers, men

    “We strongly believe that CIS and ASHON should work together in every area that will uplift and further develop our market. Specifically, the two bodies should collaborate to ensure a big and strong market, jointly engage in public advocacies, present joint position papers on issues affecting the capital market to government and its agencies, develop position papers on economic and capital market related issues, organise joint workshops on Economic and Capital market issues amongst others,” Dada said.

    Responding, Onukwue lauded CIS for its initiatives on digitalisation of its operations, including introduction of e-Examinations across the board. 

    He underscored the need to intensify efforts to attract millennials, Gen. Z , Gen Alpha and others in the category as they form the core group of future investors. 

    He lamented the manner at which stockbrokers were being treated on vending agreement during market issues. 

    He said ASHON frowned at the current trend in the recapitalisation of banks whereby some of them have opened portals to attract investors directly bypassing stockbrokers, saying this should be looked into by the two bodies.

    Onukkwe said ASHON aligned with the need to have a joint position with the institute on critical areas of market development.

    According to him, the two bodies should present a joint position to the Capital Market Committee of the Securities and Exchange Commission on market development. He noted that  a joint workshop and seminar by the two bodies was desirable to create awareness on the market and advise the government and market regulators  on the way forward.

    The meeting was attended by the office holders of CIS, Past President of CIS, Olatunde Amolegbe, Past Chairman of ASHON, Chief Onyenechukwu Ezeagu, some council members and other top officials of both bodies.