In its commitment to fostering transparency and fairness in the market, NGX Regulation Limited (NGX RegCo) organized a two-day workshop on November 23-24, 2023, focusing on retail shareholders in Nigeria. Themed “Rights and Responsibilities of Shareholders in Driving Corporate Governance,” the workshop, held at the Nigerian Exchange Group House in Lagos, featured speakers from legal, consulting, and finance sectors.
Ms Tinuade Awe, the CEO of NGX Regulation Limited, expressed her satisfaction at the physical engagement with retail shareholders, emphasizing the importance of their active participation in complementing NGX RegCo’s efforts to provide a fair and equitable market.
During the workshop, Mr. Femi Desmond Ojumu discussed key provisions of the Investment and Securities Act (ISA) 2007, the NCCG 2018, and CAMA 2020 related to shareholders’ rights and obligations. Other speakers included representatives from ARM Pensions Limited, Arete Dunamis Corporate Consulting Limited, and Adebayo Adetunji Adeleke, a veteran investor and shareholder activist.
Participants, including representatives from Shareholder Associations, openly shared their expectations from regulators and shareholder associations. The speakers emphasized the importance of respectful communication with stakeholders to elicit the right actions. The workshop received commendation from shareholders, who suggested making it an annual event.
The consensus among participants was a collective commitment to contribute to market sanitization, urging Boards and Management of listed companies to uphold responsibility for the development of the capital market.
