Association of Assets Custodians of Nigeria Elects New Executives

By Dipo Olowookere

New executives have been elected to steer the ship of Association of Assets Custodians of Nigeria (AACN).

The election was held recently in Lagos at the Annual General Meeting (AGM) of the group in the presence of representatives of the six-member institution.

The association founded in 2009 and has Citibank Nigeria Limited, First Bank of Nigeria Limited, FCMB Plc, Stanbic IBTC Bank Limited, Standard Chartered Bank and United Bank for Africa PLC as members.

During the meeting, Taiwo Sonola of United Bank for Africa PLC was elected as the President whilst, Aderonke Adetoro of Citibank Nigeria and Abiodun Adebimpe of Standard Chartered Bank were voted in as Vice President and General Secretary respectively. 

In addition, Adebola Lawani of FCMB PLC will serve as the Financial Secretary/Treasurer while Babatunde Majiyagbe and Akeem Oyewale both of Stanbic IBTC Bank are Publicity Secretary / Public Relations Officer and Ex-Officio Member respectively.

In her remarks, President of the association, Mrs Taiwo Sonola, thanked the outgoing executives for delivering on the mandate of the association.

She also highlighted several achievements of the AACN which included the deployment of the electronic certificate of capital importation (eCCI) in the market, the consistent hosting of an investor conference in the UK where Foreign Portfolio Investors (FPIs) are able to interact with Nigerian regulators and key stakeholders etc.

The association is now poised and structured to work with key stakeholders as well as regulators in promoting the efficient deployment of custody services in Nigeria. The AACN as a registered Trade Association with the Securities and Exchange Commission (SEC) will continue to regulate and harmonize the activities of her members, enhance the exchange of information for the benefit of members and the industry at large, promote the observance of transparent business practices amongst members, ensure integrity, professionalism and efficiency in the discharge of members’ duties as well as make the market more attractive for investors and facilitate the growth of global best practices in the Nigerian capital market.