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The Association of Securities Dealing Houses of Nigeria (ASHON) has elected Mr. Sehinde Adenagbe as the Chairman of its Governing Board. He succeeded Mr. Sam Onukwue. The election, which came after ASHON’s annual general meeting (AGM) in Lagos, also confirmed the election of Ms. Ifeyinwa Ejezie as 1st Vice Chairman and Mr. Oluwadare Adejuwon as 2nd Vice Chairman. The inauguration of the new executives will be announced at a later date. Prior to his election, Adenagbe served as ASHON’s 1st Vice Chairman, where he played a key role in advancing the association’s strategic objectives and promoting collaboration among member firms. Analysts said his elevation to chairman underscored his proven leadership, commitment, and long-standing contribution to Nigeria’s capital market. Expressing appreciation to members for their confidence, Adenagbe pledged to build on the progress achieved under his predecessor’s leadership. READ ALSO: Commanding from the front: Tinubu strengthening national security architecture He said: “I am deeply honored by the trust reposed in me to serve as Chairman of ASHON. Together with my colleagues, we will continue to strengthen the association’s advocacy efforts, enhance professional standards, and promote policies that foster a vibrant and sustainable securities market”. In his valedictory remarks, Onukwue thanked ASHON members for their support during his tenure and congratulated the new leadership, expressing confidence in their ability to sustain the association’s growth and uphold its core values of professionalism and integrity. Adenagbe, the Founder and Chief Executive Officer of Standard Securities, brings over three decades of experience in securities trading and management. He holds Master of Business Administration (MBA) from Ladoke Akintola University. He currently serves as a Non-Executive Director at the Nigerian Exchange Limited (NGX). The newly elected Governing Council is expected to strengthen ASHON’s engagement with regulators, stakeholders, and market participants to ensure the continued growth and stability of Nigeria’s securities dealing sector. Speaking earlier at the AGM, Onukwue emphasised the need for continuous investment in technology and capacity building to help members remain competitive and compliant with evolving regulatory standards. He highlighted ASHON’s proactive policy advocacy during the year, noting its active participation in the review of the 2024 Investments and Securities Bill (ISB) and its engagement with key stakeholders on market reforms. He said: “ASHON advocated for the upward review of brokerage fees and the introduction of pricing floors and ceilings. We also engaged the SEC on delays in share allotment linked to extended verification processes at the CBN, collaborated with FIRS consultants and NGX on automating VAT assessment and collection via the Sentinel application, and held discussions with NGX to ensure affordable cloud hosting fees for member firms”. With its new leadership in place, ASHON reaffirmed its commitment to advancing the Nigerian capital market through collaboration, innovation, and sustained advocacy.
