APA – Lagos (Nigeria)
The Nigerian Exchange Limited (NGX) has lauded the Association of Securities Dealing Houses (ASHON) for enhancing professionalism and ethical conduct in the Nigerian capital market.
Speaking at the Closing Gong Ceremony in Lagos on Monday in commemoration of the return of the members of the association to the trading floor of NGX, the Chairman of NGX, said that 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.”
Represented by a director on the Board of NGX, Mr Kamarudeen Oladosu, the Chairman commended the strategic role the association played in providing professional guidance and enforcing ethical standards to guide the stockbroker community.
“We are confident that the event would provide an opportunity to renew our partnership, strengthen our relationship and explore new areas of collaboration that is both mutual and beneficial,” he said.
In his remarks, the NGX Group Chairman, Dr. Umar Kwairanga, commended 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 association for their significant contributions to the capital markets, which have sustained the association on the path of growth and expansion.
He reiterated the commitment of the NGX Group to continue partnership that would be beneficial to the capital market
Responding, the Chairman of ASHON, Mr Sam Onukwue, emphasized the importance of the return of full trading activities to the floor of the Exchange.
He noted 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.”
Onukwue stated the trading floor was the “temple of capitalism and provides veritable opportunities to dissect social and economic events,” which was the reason why exchanges like the New York Stock Exchange and others retain trading floors.
He said that the association and the Stockbroking community would continue collaborating with NGX on growth initiatives.
In his remarks, the CEO, NGX, Mr Temi Popoola, noted that the level of professionalism and ethical conduct in the capital market has 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).
GIK/APA
