NGX lauds Securities Dealing Houses for enhancing professionalism, ethics in capital market

Nigerian Exchange Limited (NGX) has lauded the Association of Securities Dealing Houses (ASHON) for enhancing professionalism and ethical conduct in the market.

This was disclosed at the closing gong ceremony in Lagos commemorating the return of members of the ASHON to the trading floor of NGX.

Speaking at the ceremony, Kamarudeen Oladosu, Director on the Board of NGX who represented the chairman of NGX 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.”

Oladosu commended the strategic role the Association played in providing professional guidance and enforcing ethical standards to guide the stockbroker community saying: “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 is both mutual and beneficial.”

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Umar Kwairanga, group chairman, NGX 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 contribution to the capital markets, which have sustained the association on the path of growth and expansion. He reiterated the commitment of NGX Group, to continue partnership that would be beneficial to the capital market

Sam Onukwue, chairman of ASHON while giving his remarks emphasised 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 the Association and the Stockbroking community would continue collaborating with NGX on growth initiatives.

Temi Popoola, CEO, NGX 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).