Nigerian Exchange Limited (NGX) has lauded the Association of Securities Dealing Houses (ASHON) for enhancing professionalism and ethical conduct in the market.
The commendation was made at the Closing Gong Ceremony, yesterday, in Lagos, commemorating the return of members of the ASHON to the trading floor of NGX.
Speaking, the Chairman of NGX, represented by a Director on the Board, Kamarudeen Oladosu, 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 are both mutual and beneficial.”
NGX Group chairman, Dr. Umar Kwairanga, commended members of ASHON for their achievement in raising the standards of skills and qualifications as well as enhancing trust in the financial services sector.
He commended its past chairmen for their significant contributions to the capital market, which have sustained the Association’s growth and expansion, while reiterating NGX Group’s commitment to continued partnership for the benefit of the capital market.
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 are both mutual and beneficial.
The Chairman of ASHON, Sam Onukwue, in his remarks, emphasized the importance of the return of full trading activities to the floor of the Exchange.
He noted that this will “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 said the trading floor is the “temple of capitalism and provides veritable opportunities to dissect social and economic events,” the reason why exchanges like the New York Stock Exchange and others retain trading floors.
He said the Association and the stock broking community will continue to collaborate with NGX on growth initiatives.
NGX CEO, Temi Popoola, noted that the level of professionalism and ethical conduct in the capital market has risen 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).
