Economy
Stockbrokers Must Ascertain Investors’ Source of Fund—ASHON
By Modupe Gbadeyanka
The Association of Stockbroking Houses of Nigeria (ASHON) has emphasised that it is wrong for investors to just jump into the capital market without first approaching its members.
According to the association’s General Secretary, Mr Sam Onukwe, a new investor must contact a stockbroking firm for a proper Know Your Client (KYC) to ascertain basic information about him or her.
Mr Onukwe stressed that the KYC must be extensively conducted in order to ascertain information such as the address of the new investor, form of identification, source of livelihood and source of fund for investment among others.
“An investor who has some funds to invest must go through a stockbroking firm, who shall conduct the KYC which is very fundamental.
“The stockbroker must carry out investigation to ascertain that the potential investor is a fit and proper person.
“I must emphasize that because we are very mindful of people using the market for money laundry and all of sorts of illegality.
“The next phase is for the person to complete the processes of account opening forms .We shall do the account opening with the Cleaning house of The Nigerian Stock Exchange, the Central Securities Clearing System (CSCS) Plc.
“The CSCS shall provide an account number for the client and that is the basis upon which we can now buy and sell on behalf of the client. But our purchase or sale order must be based on instruction or agreement with the client,” he said.
According to him, after the rudiments of KYC and account opening, stockbrokers are interested in an investor’s Investment objective in order to know the types of asset classes that would form his portfolio.
He stated that where an investor could not clearly explain his objectives, there is a mechanism through which a stockbroker can design certain questions for the investor in order to ascertain his risk profile and other important investment variables.
Speaking on investor confidence in the market, he said confidence had been restored as investors have seen a lot of transformation on the Nigerian Stock Exchange (NSE) after the meltdown.
He explained that both capital market regulators and operators had been working together to ensure adherence to global best practices in all areas of market operations.
Recently, ASHON’s Chairman, Mr Patrick Ezeagu, explained that the association would soon commence its enlightenment programme tagged ‘ASHON Investor Education’ in order to meet the yearning demand for market knowledge by the existing and potential investors nationwide.
According to Mr Ezeagu, the youths would be factored into the reviewed programme in order to help them develop investment instinct at a tender age. He noted that ASHON’s members must always exhibit highest level of integrity as there are sufficient rules and regulations to address any act of unethical practices by its members.
He assured investors to take advantage of relatively cheap prices of stocks on The Exchange to beef up their portfolio as the market fundamentals are very strong while return on investment on The Exchange would continue to be attractive.
Commenting on what informed ASHON’s decision to float Lagos Commodity and Futures Exchange (LCFE) in conjunction with the Lagos State Government, Mr Ezeagu explained that, “An emerging trend is that government is now expanding its scope of diversification in terms of earning foreign exchange from other access other than crude oil. If we are diversifying and they have to go into commodities which has to do with agricultural products as well as solid mineral and gas, it means that there must be a platform where our members can play their intermediating roles in terms of trading on warehouses receipts electronically
“The ultimate goal for our members is to be able to push for high turnover in this proposed market. The whole process is all about how we can play our role in the economy and ensure that the economy grows in the manner its supposed to grow. We must be part of the diversified economy as Nigeria would no longer be dependent on crude oil any longer.”
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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