NSE, CIS endorse ASHON’s new leadership, Ikeja Hotel’s shares suspended

The Nigerian Stock Exchange’s Chief Executive Officer, Oscar Onyema has assured the new executive members of the Association of Stockbroking Houses of Nigeria (ASHON) of the exchange’s support in order to enthrone professionalism and restore investor confidence into the market.

Onyema, while congratulating the new members said: “We look forward to working with the new executive committee to further develop our relationship and build our market to the height of global best practice; a free, fair and orderly market that is the envy of the Nigerian.”

Similarly, the Chartered Institute of Stockbroker’s President and Chairman, Governing Council, Oluwaseyi Abe has endorsed the ASHON”s new team headed by Patrick Ezeagu and Akinsola Akeredolu-Ale, the Chairman and Vice Chairman respectively.

“Considering their enviable track records, we have no doubt that the newly elected office bearers will continue to bring to bear their experiences in transforming the association and the capital market in general.”

ASHON’s recent yearly general meeting led to the emergence of a new cabinet in which Sam Onukwe was elected the General Secretary, Seyi Oshunkeye, Treasurer,  Micheal  Katsi, Assistant General Secretary and Emeka Madubuike and Alhaji Rasheed Yusuff, ex- officio members respectively.

The Managing Director and Chief Executive Officer of Solid -Rock Securities and Investment Plc and a fellow of the Chartered Institute of Stockbrokers (CIS) Patrick Ezeagu, is an accomplished professional whose robust career spanned banking, consulting and financial market. He is an alumnus of Liverpool John Moores University, Liverpool, UK (2008), University of Lagos (1988), and University of Nigeria, Nsukka (1979). He holds M.Sc. Corporate Governance and Finance, MBA Finance and B.Sc. Management degrees respectively. He had served in various capacities at strategic committees of the Securities and Exchange Commission (SEC), The Nigerian Stock Exchange and CIS.

Akeredolu -Ale, ASHON’s immediate past General Secretary is the Group Chief Executive Officer of Gem Assets Management and a fellow of the CIS. He is an astute capital market analyst with over two-decade experience in Wealth Management. He graduated from the University of Lagos and earned a Master’s degree in Corporate Governance from the Leeds Metropolitan University, UK. He is an Associate of the Nigerian Institute of Management. His career began as a Manager in Fidelity Finance Company in 1992. Akin has managed several large portfolios.

Meanwhile, the Nigerian Stock Exchange (NSE) has placed the shares of Ikeja Hotel Plc on full suspension with effect from Thursday, November 10, 2016.

According to NSE, the suspension was due to the continued dispute between the major shareholders, which have negatively impacted on the company’s governance structure.

The Exchange explained that it has taken this action to safeguard the investments of shareholders of Ikeja Hotel Plc while the Securities and Exchange Commission (SEC) has been notified of this development. NSE added that the suspension would be in place until further notice.