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With the process of demutualisation of the Nigerian Stock Exchange (NSE) approaching a climax, the Association of Securities Dealing Houses of Nigeria (ASHON) has said that it is embarking on strategic restructuring to bolster its members’ image.
Speaking recently in a media briefing, the Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Chief Oyinyechukwu Ezeagu, explained that the impending demutualization of the NSE have been in the works for a while and ASHON has been involved in the discussions.
Ezeagu said: “We represent firms that will transit from members to shareholders of the Exchange and we are gearing up to this new responsibility and the benefits we expect to flow from the laudable venture. Our members are being repositioned to operate under the demutualised Exchange.
“ASHON’s members are currently the owners of the NSE. We have embarked on strategic restructuring to bolster the members’ image, consolidate a formidable team and review internal processes among others”.
According to him, “it is important that we prepare ourselves for the change in status which comes with some responsibilities and new realities. All our members representing us both at the Advisory Committee and the NSE Council have been working tirelessly to defend our collective interests in the demutualization process. The Association has set out to reposition herself and Members to expand our horizon by exploring the potential of trading in other securities like commodities and fixed income.
Ezeagu thereafter urged investors to embrace technology so as to keep abreast of the new ways of doing business in terms of investing, reporting, earnings and record keeping/retrieval.
He said, “The economy is changing, the environment is changing as technology evolves with the times. We encourage investors to embrace technology so as to keep abreast with the new ways of doing business in terms of investing, reporting, earnings and record keeping/retrieval. The investors should not, notwithstanding the ease of doing business offered by technology, neglect the expert advice of their stockbrokers.”
