ASHON seeks multiple income channels for stockbroking firms

The Association of Securities Dealing Houses of Nigeria says it will review options for multiple income streams for members in the wake of the difficult operating environment.

The 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.

ASHON said in a statement that the new avenues for income generation would be reviewed at its 10th Annual General Meeting scheduled to hold in Lagos this month.

It said its resolve was coming on the heels of similar initiatives being put together by the trade association to enable their members to remain in business irrespective of the nature of operating environment.

The statement said the Chairman, ASHON, Chief Patrick Ezeagu, was expected to brief members on some new developments in the financial market that could provide multiple income streams for the members.

Sources also hinted that ASHON could be considering a relationship with the newly approved FMDQ Securities Exchange as a new platform where members could execute transactions.

Source: Punchng, October 7, 2019