The Association of Stockbroking Houses of Nigeria (ASHON) and a leading Mauritius-based Information and Communications Technology (ICT) company, Acoyvis Limited, have started discussions on a partnership that will enhance technology governance in the Nigerian stockbroking industry.
Acoyvis Limited has proposed an international workshop for ASHON to address global best practices in technology governance and the need to enhance oversight functions of board members of stockbroking firms and bring them closer to the staff in the back office for harmonious operations.
Specifically, Acovyis, adjudged as one of the leading companies in ICT training has proposed a comprehensive training programme for board members of stockbroking firms and back office staff in line with the global best practices in technology governance and oversight functions. If endorsed by ASHON, the proposed series of joint workshops will address a wide range of issues that will strengthen international competitiveness of its members.
Addressing ASHON’s Executive members, Acoyvi’s Chief Executive Officer, Susanne Alfs, stressed the essence of continuous training of board members and back office staff to upscale their skills in view of frequent challenges in ICT architecture.
She explained that disruptive trends in the ICT world have brought into fore the imperative of acquisition of latest skills in technology.
“With technology invading even the remotest corner of our organizations, it is also moving up a few notches on a typical board agenda. But in the past, technology knowhow was not typically sought after in board members. That is why many boards today struggle to keep up,” Alfs said.
Responding, ASHON’s Chairman, Chief Patrick Ezeagu, described her presentation as a management change that every board must embrace.
Ezeagu noted that the presentation has re-opened the on-going discussion on the fourth revolution and the need for every professional to be prepared for a change.
“You have talked about the fourth revolution which is going to disrupt a lot of things in terms of how to do business. People are going to have fewer margins while many may lose jobs except they upscale their skills. Therefore, I believe that there would always be a place of collaboration for like minds, and I can tell you that the Council members shall deliberate on what have been said and arrive at a consensus on the areas to collaborate with Acoyvis,” Ezeagu said.
He explained that stockbrokers in Nigeria were resilient as they operate in an environment characterized by market volatility, frequent changes in technology and high cost of its acquisition, unstable government policies and uncertainty in the economy following unguarded utterances of the political class, causing panic among investors.
Stockbroking firms, Mauritius firm mull partnership on ICT