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By Goddy Egene
The Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Chief Onyenwechukwu Ezeagu, has urged stockbroking companies in Nigeria to align their business models so as to enjoy the anticipated opportunities that would emerge from the demutualised Nigerian Stock Exchange (NSE).
Following its approval to convert into public company by the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC) last week, the NSE would henceforth operate as a profit making organisation under The Nigerian Exchange Group Plc(NGXGroup ) with three subsidiaries.
Addressing securities dealers at a webinar themed: âThe future of securities dealing business in Nigeria post demutualisation of NSE,” Ezeagu urged ASHONâs members to align their business models with the new market structure and reality.
By Goddy Egene
Stakeholders in the capital market have hailed the final approval given by the Securities and Exchange Commission (SEC) and the Corporate Affairs Commission (CAC) for the demutualisation of the Nigerian Stock Exchange (NSE), saying it will lead to the growth of the market and the economy.
The approval by SEC and CAC has led to the completion of the demutualisation process of the exchange, transforming it into a profit-making and limited liability company.
With the demutualisation, a new non-operating holding company, the Nigerian Exchange Group Plc (NGX Group), has been created with three operating subsidiaries.
The subsidiaries are: Nigerian Exchange Limited (NGX Limited), which will be the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulation company; and NGX Real Estate Limited (NGX RELCO), the real estate company.