NSE to Launch Association of Securities Exchange of Nigeria

Enterprise Television- NSE to Launch Association of Securities Exchange of Nigeria

The Nigerian capital market on Wednesday, August 8, 2018 will launch the Association of Securities Exchange of Nigeria (ASEN) at the Nigerian Stock Exchange event centre in Lagos.

Association of Securities Exchange of Nigeria (ASEN), is Nigeria’s first association of domestic securities exchanges, it is a non-profit industry association established to accelerate the development of domestic securities exchanges and support the Nigerian capital market to achieve greater global competitiveness.

The membership of the association currently includes AFEX Commodities Exchange (AFEX), FMDQ OTC Securities Exchange (FMDQ), NASD OTC Securities Exchange (NASD), Nigeria Commodity Exchange (NCX) and The Nigerian Stock Exchange (NSE).

Top special guests to attend the Launch include the Chairman, House of Representatives Committee on Capital Markets and Institutions, Hon. Yusuf Tajudeen; Ag. Director-General of the Securities and Exchanges Commission (SEC), Mrs. Mary Uduk; Director-General, Debt Management Office (DMO), Mrs. Patience Oniha; Mr. Tony Elumelu CON, Chairman, Heirs Holding (investors in AFEX Commodities Exchange) and Mr. Abimbola Ogunbanjo, President, National Council of The Nigerian Stock Exchange.

Mr. Oscar N. Onyema OON, Chairman, ASEN Board of Trustees and Chief Executive Officer (CEO), NSE, while addressing the development, said “we are excited to launch ASEN, an association that will help build a stronger capital market and cultivate a culture of mutual support and collaboration among stakeholders.

Mr. Oscar added “Global securities exchanges are responding to developments in the operating environment and competitive landscape, by establishing mechanisms for cooperation that position not only their businesses but their markets to become more attractive to investors.”

“Nigerian securities exchanges must therefore embrace a broader collaborative effort to unlock new opportunities and efficiencies in view of increasing global competition. The establishment of this Association is a bold step towards the actualization of that vision of becoming globally competitive trading venues.”

Also speaking, Mr. Bola Ajomale, Member, Board of Trustees, ASEN and CEO, NASD Plc. stated, “This event is the culmination of deliberate cooperation between the various exchanges in the Nigerian capital market.  Collaboration between exchanges in this manner will ensure some level of uniformity and consistency in governance whilst allowing each member to continue along its natural trajectory.”

“Ultimately key stakeholders in the Nigerian capital market – Regulators, issuers, investors and operators will be the real beneficiaries. We also believe the existence of such an association will significantly support market structure in Nigeria.”

Other distinguished members of the Board of Trustees, ASEN include: Mr. Ayodeji Balogun (representing AFEX), Ms. Zaheera Baba-Ari (representing NCX) and Mr. Bola Onadele. Koko (representing FMDQ).

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