The Chairman, Governing Council, Association of Securities Dealing Houses of Nigeria (ASHON) Sam Onukwue, has explained that the Association rebranded to cope with the demands arising from changing dynamics of the global financial market and the need to cope with the new demands of customers.
Prior to the demutualisation of The Nigerian Stock Exchange, now Nigerian Exchange Limited (NGX), ASHON has embarked on rebranding, including transformation of its processes to serve its diverse customers better and urged its members to review their business models for global competitiveness.
The Association also extended the transformation to some brand attributes such as changing its name from Association of Stockbroking Houses of Nigeria to that of Securities Dealing Houses and also changed the logo to reflect the enlarged functions of its members.
Last week, ASHON organised a strategic training programme for its Staff in the Secretariat, themed “Developing Employee for sustainable value creation in an organization ” to upskill them for optimal performance in the new operating environment.
Addressing the participants, Onukwue, explained that every organisation should review its business models, train staff and expose them to modern tools in Information and Communications Technology (ICT) for enhanced performance.
Onukwue noted that as an Association whose members comprise top flight professionals in the financial market, the need for rebranding was imperative and the goals could not be achieved without the support of our Staff.
According to him, ASHON has always been at the forefront of ensuring that its members operate professionally while the Association collaborates with the capital market regulators, operators and other members in the ecosystem. Onukwue stated that ASHON had always played pivotal roles in policies that impacted the capital market, including banks’ recapitalization, demutualsation of The Exchange among others.
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“This training becomes necessary in view of the ongoing changes in the dynamics of our market and the evolving roles of our Association. We must prepare ourselves to cope with the new expectations from our customers. We organize this training to bring you up to speed and to plug the loopholes that we have identified in running the association. Evert Staff should learn new skills and prepare to contribute more to the growth and development of ASHON in all areas of performance indicators.
“ I recall that between 2010 and 2011, ASHON played a very important role in bringing a huge relief to the market through constructive engagement with the market regulators on policy issues. . As we speak today, we are still dealing with the fallouts of the demutualization as it affects some of our members. These are some of the keys things that we have been doing recently. You are aware of the role the Association and other market operators played in getting the market together to engage the Securities and Exchange Commission (SEC) in order to gain some milestone on increase in the annual renewal fees across the board. These are things that over the years the Association has been able to achieve, without an Association like, this would have been very difficult.
“We have regular engagement with SEC, Nigerian Exchange Group (NGX), Central Securities Clearing System Plc (CSCS) and other relevant bodies, especially the securities trading platforms. ASHON has also recognized the importance of diversifying the income of its members. By this the Association promoted the Lagos Commodities and Futures Exchange (LCFE). We have been having engagement with Financial Market Dealers Quotation (FMDQ).
“The essence of this training is to help the secretariat staff to upskill and meet the expectations of the Council and help it to meet the expectation of the members, ” said Onukwue.
Corroborating him, the Chief Executive Officer, 3HAYS Consulting, and a management expert, Prince Adegoke Arimoro, tasked the participants to execute their duties with passion and ensure effective and efficient delivery work ethic.
According to him every staff should understand the culture of an organisation and how it operates.
The topics covered in the training include: “ Understanding Association of Securities Dealing Houses of Nigeria (ASHON) as a brand”; “Organisation Culture and roles of Employees” ; “ Evaluating Team and how to become a valuable member ”; “ Efficiency and Effectiveness in service delivery” and “ Managing Change in the Workplace”
