The Association of Issuing Houses of Nigeria (AIHN) is a self-regulatory body for investment banks registered for Issuing Houses operations by the SEC to perform Issuing Houses functions. The Association is made up of bank and non-bank-owned investment firms licensed to operate as Issuing Houses by the Securities & Exchange Commission (“SEC”).
AIHN is registered as an incorporated trustee under part C of the Companies and Allied Matters Act (“CAMA”), 1990. AIHN is also the trade group for the Nigerian investment banks and the principal lobbying the platform for the interest of the business.
Foreign investment Banks/Issuing Houses that perform issuing house functions in Nigeria can also be registered as members of the Association while honorary members shall also be registered as members of the Association in accordance with the provisions of the Constitution of the Association.
The objects for which the association is established are:
- To set professional and ethical standards for practitioners and ensure compliance with set standards
- To promote free interplay of market forces;
- To enable members interact with one another on issues concerning the capital market in general and issuing houses in particular;
- To promote and protect the interest of members of the Association in the exercise of their duties as issuing houses;
- To enable members approach or collaborate with the Government, the SEC, the NSE, and other regulatory bodies as a single body in order to facilitate the formulation of policies affecting the capital market and other related issues;
- To encourage the professional development of Issuing House Operators;
- To advance the knowledge of operators and their staff by organizing lectures, seminars, workshops, etc;
- To provide facilities for the free flow of information among members and to engage in research on capital market transaction/operations and related areas;
- To promote professional integrity and status of all persons engaged in Issuing Houses activities;
- To relate with other professional bodies with a view to building a strong Nigerian capital market;
- To do such things that are incidental or conducive to the attainment of the above objects; and
- The Association must act as a self-regulatory body.