The Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Sehinde Adenagbe, has expressed confidence in the resilience of Nigeria’s capital market, citing strong market performance, regulatory reforms, and growing investor confidence despite prevailing economic challenges.
Adenagbe, who spoke following his election, said the Nigerian Exchange Limited (NGX) delivered one of its strongest performances in decades in 2025, supported by macroeconomic adjustments and structural reforms.
According to him, the NGX All-Share Index rose by 51.19% year-to-date to close at a historic high of 155,613.03 points, placing Nigeria among the best-performing emerging and frontier markets globally. He added that total market capitalisation expanded to about ₦99.38 trillion, generating significant capital gains for investors.
He noted that key sectors, such as banking, industrials, consumer goods, and insurance, recorded strong returns, reflecting broad-based market growth.
However, Adenagbe acknowledged that challenges persist, including macroeconomic volatility, low levels of financial literacy, policy inconsistencies, and technology gaps. He said these issues continue to affect long-term capital inflows and investor sentiment.
To address them, the ASHON chairman said the association would focus on strengthening ethical standards among dealing firms, improving disclosure practices, and collaborating closely with regulators on investor-protection initiatives. He also announced plans to roll out a nationwide investor-education programme aimed at deepening market participation and restoring trust.
Adenagbe described the Investment and Securities Act (ISA) 2025 as a major milestone for the market, noting that it broadens the scope of regulated securities, enhances investor protection, and brings digital assets under formal oversight. He added that the law strengthened the powers of the Securities and Exchange Commission and contributed to Nigeria’s exit from the Financial Action Task Force grey list in October 2025, easing cross-border transactions.
He further said foreign exchange reforms and exchange-rate unification have improved pricing transparency for foreign investors, while the planned transition to a T+2 settlement cycle would enhance market efficiency.
On industry regulation, Adenagbe called for clearer policies on capital gains tax and urged a phased approach to the recapitalisation of stockbroking firms to avoid market disruption.
He reaffirmed ASHON’s commitment to technology adoption, investor protection, and reforms that will make Nigeria’s capital market more competitive, inclusive, and resilient.
