ASHON reaffirms commitment to market development, digital readiness

Sam Onukwue, a fellow of Chartered Institute of Stockbrokers (CIS), is the chairman of Association of Securities Dealing Houses of Nigeria (ASHON).

The Association of Securities Dealing Houses of Nigeria (ASHON) has reaffirmed its commitment to technological advancement, policy advocacy, and market development.

Speaking during the Annual General Meeting (AGM) of ASHON, Sam Onukwue, chairman of ASHON emphasised the need for continuous investment in technology and capacity building to ensure members remain competitive and aligned with evolving regulatory standards.

“The accelerating pace of technological innovation in the securities industry demands continuous investment and capacity enhancement. Members are encouraged to prioritise training, cybersecurity, and digital trading infrastructure to maintain competitiveness and regulatory alignment. The Association has strengthened its collaboration with the NGX, CSCS, NASD, LCFE, and FMDQ partnerships that continue to drive policy initiatives promoting market growth and investor protection,” Onukwue stated.

He further highlighted ASHON’s proactive role in policy engagement throughout the year, noting that the Association consistently represented members’ interests before regulators and market institutions.

“We participated in the review of the 2024 Investments and Securities Bill (ISB) at the Senate Committee on Capital Market’s public hearing. ASHON also advocated for an upward review of brokerage fees and the introduction of pricing floors and ceilings to support sustainable remuneration structures.

“Additionally, we engaged the SEC on delays in share allotment linked to extended verification processes at the Central Bank of Nigeria (CBN). Our collaboration with FIRS consultants and the NGX on automating VAT assessment and collection via the Sentinel application is ongoing. We have also sustained discussions with NGX on ensuring affordable cloud hosting fees for member firms,” Onukwue added.

During the meeting, members commended the Governing Council for its commitment and service to the Association. Kasimu Kurfi of APT Securities and Funds, praised the Council’s dedication and urged them to maintain their efforts. Emeka Madubuike of Compass Investment and Securities also advised members to pay their annual dues promptly to strengthen ASHON’s financial position. All resolutions presented during the meeting were duly passed.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).