ASHON Reaffirms Commitment to Market Development

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

Speaking at the event, the Chairman of ASHON, Mr. Sam Onukwue, 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.