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As the Association of Securities Dealing Houses of Nigeria (ASHON) prepares for its 10th Annual General Meeting (AGM), there are strong indications that options for multiple income streams for members in the wake of harsh operating environment may top one of the issues on the agenda.
Operations of most stockbroking firms in Nigeria have been largely hampered by macroeconomic instability, low purchasing power of investors, anti-investment government policies and investor apathy among others.
The 10th AGM, scheduled for Thursday, October 17, is coming on the heels of many initiatives being put together by the trade association to enable its members remain in business irrespective of the nature of operating environment.
Feelers from ASHON at the weekend indicated that ASHON’s Chairman, Chief Patrick Ezeagu, is expected to brief members on some new developments in the financial market that can provide multiple income streams for the members. Market watchers at the weekend were quick to point out that ASHON might be considering a relationship with the newly approved FMDQ Securities Exchange as a new platform where its members can execute transaction. They also noted that Ezeagu would update ASHON’s members on the Lagos Commodities and Futures Exchange (LCFE) which has secured approval from the Securities and Exchange Commission (SEC) to become operational.
Ezeagu is also expected to touch on some new developments in the financial market that can provide multiple income streams for the members. Market watchers at the weekend were quick to point out that ASHON might be considering a relationship with the newly approved FMDQ Securities Exchange as a new platform where its members can execute transaction.
