By Aduragbemi Omiyale
Encomiums have been showered on the Association of Securities Dealing Houses (ASHON) by the Nigerian Exchange (NGX) Limited for enhancing ethical conduct and professionalism in the capital market.
The Chairman of NGX Limited, Mr Abubakar Mahmoud, while speaking at the closing gong ceremony on Monday in Lagos to commemorate the return of members of the ASHON to the trading floor of the exchange, commended the strategic role the group played in providing professional guidance and enforcing ethical standards to guide the stockbroker community.
Represented by a director on the board of NGX, Mr Kamarudeen Oladosu, the Chairman said the event served as a recognition of the “remarkable contribution of the Association to a dynamic, responsive, and vibrant capital market that has sustained service delivery to stakeholders and value to the investing public.”
“We are confident that today’s event would provide an opportunity to renew our partnership, strengthen our relationship and explore new areas of collaboration that are both mutual and beneficial,” he said.
Also commenting, his counterpart at the NGX Group Plc, Mr Umar Kwairanga, lauded members of ASHON for the achievements of the association in raising the standards of skills and qualifications as well as enhancing trust in the financial services sector.
He commended the past chairmen of the organisation for their significant contribution to the capital markets, which have sustained the association on the path of growth and expansion, reiterating the commitment of NGX Group to continue the partnership that would be beneficial to the capital market.
On his part, the Chairman of ASHON, Mr Sam Onukwue, emphasised the importance of the return of full trading activities to the floor of the exchange, noting that it would “rekindle relationships and consolidate the professional traits, characterized by the noble profession — collaboration, respect for one another, and leveraging on the collective knowledge of the market.”
Mr Onukwue stated the trading floor was the “temple of capitalism and provides veritable opportunities to dissect social and economic events,” which was why exchanges like the New York Stock Exchange and others retain trading floors.
He said the association and the stockbroking community would continue collaborating with NGX on growth initiatives.
In his remarks, the chief executive of the NGX, Mr Temi Popoola, noted that the level of professionalism and ethical conduct in the capital market had gone up significantly to measure up to global standards since ASHON was established in 2006 as a national trade group of all dealing members of the now demutualised Nigerian Stock Exchange (NSE).
