ASHON Reconstitutes Council, Awaits NSE’s Demutualisation

Goddy Egene

The Securities Dealing Association of Nigeria (ASHON) has reconstituted its Governing Council to effect seamless change of baton for enhanced professionalism.   Under the reconstituted council, ASHON’s chairman, Chief Oyinyechukwu Ezeagu retained his position as he is still serving his tenure. However,   the First Vice Chairman, Mr. Akin Akeredolu-Ale has exited the council by virtue of his new role as the Chief Executive Officer of Lagos Commodities and Futures Exchange.

The former General Secretary, Mr. Sam Onukwue,  emerged the first vice chairman while the erstwhile Assistant General Secretary, Mr. Sehinde Adenagbe, has scaled up the corporate ladder to emerge the second vice president.

The Treasurer, Mrs. Bunmi Ajayi retained her portfolio, while the Public Relation Office has been enlarged because of the enormous responsibilities. Consequently,  the association’s Public Relation Officer, Ms Ify Ifejeize emerged Public Relation Officer 1 while  Mr. Andy Turku is the Public Relation Officer 2. Mr. Dare Adejumo is the Head, Business Development and Membership Committee while Emeka Madubuike is the  Ex-Officio member.

Ezeagu explained that ASHON had embarked on series of initiatives to prepare for demutualisation of the NSE Nigerian Stock Exchange.

He said: “We represent firms that will transit from members to shareholders of the exchange.  We are gearing up to this new  responsibility and the benefits  to flow from the laudable venture. Our members are being repositioned to operate under the demutualised exchange. ASHON’s members are currently the owners of  the NSE.  We have embarked on strategic restructuring to bolster the members’ image, consolidate a formidable team and review internal processes among others. The process of Demutualization of the NSE is approaching a climax. It is important that we prepare ourselves for the change in status which comes with some responsibilities and new realities.

“ All our members representing us both at the Advisory Committee and the NSE Council have been working tirelessly to defend our collective interests in the demutualisation process.”