A new and critical association entered the Nigerian Capital Market. The Association of Securities Exchanges of Nigeria [‘’ASEN’’] was officially inaugurated in Lagos.
The association brings together the 5 existing securities exchanges in Nigeria. These are FMDQ OTC Securities Exchange [‘’FMDQ’’], Nigeria Commodity Exchange [‘’NCX’’], AFEX Commodities Exchange [‘’AFEX’’], Nigerian Stock Exchange [‘’NSE’’] and NASD OTC Securities Exchange [‘’NASD’’].
Some of ASEN’s objectives are:
1. To promote cooperative working between member exchanges
2. Collect and share information resources e.g. publications, research & website
3. To build capacity of the Nigeria Capital Market by collaborating
4. To promote and encourage best practice amongst member exchanges
“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. We also believe the existence of such an association will significantly support market structure in Nigeria. Ultimately key stakeholders in the Nigerian capital market – Regulators, issuers, investors and operators will be the real beneficiaries’’.