NGX Regulation Limited (NGX RegCo) demonstrated its commitment to fostering transparency and fairness in the market by hosting a two-day workshop for retail shareholders in Nigeria.
The event, titled “Rights and Responsibilities of Shareholders in Driving Corporate Governance,” took place at the Nigerian Exchange Group House, Lagos, on Thursday, November 23, and Friday, November 24, 2023.
Distinguished speakers from the legal, consulting, and finance sectors graced the workshop, providing insights into various aspects of shareholders’ rights and obligations. The event marked a significant step in NGX RegCo’s collaborative regulatory approach, aiming to engage with retail shareholders and empower them with knowledge.
Ms. Tinuade Awe, the Chief Executive Officer of NGX Regulation Limited, expressed her delight in conducting a physical engagement with retail shareholders, highlighting the importance of their active participation.
She emphasized NGX RegCo’s objective of providing a fair and equitable market where the interests of shareholders are well protected.
Mr. Femi Desmond Ojumu, Founder and Principal Partner at Balliol Myers LP, a commercial law practice and strategy consultancy based in Lagos, delivered a presentation discussing the provisions of the Investment and Securities Act (ISA) 2007, the NCCG 2018, and CAMA 2020 concerning shareholders’ rights and obligations.
Other speakers included Yussuf Apena of ARM Pensions Limited, Mr. Uchenna Uwechia, Lead Consultant/CEO of Arete Dunamis Corporate Consulting Limited, and Mr. Adebayo Adetunji Adeleke, a veteran investor in the Nigerian Capital Market and a Shareholder Activist on the platform of Independent Shareholders Association of Nigeria (ISAN).
Representatives of various Shareholder Associations and other members of the retail shareholder community actively participated in the workshop, openly expressing their expectations from regulators and shareholder associations.
The speakers underscored the importance of respectful communication with stakeholders to generate the right type of actions.
Retail shareholders praised NGX RegCo for organizing the workshop and suggested that it should become an annual event.
Participants at the workshop collectively agreed on the need for collaborative efforts to sanitize the market and encourage responsible actions from the Boards and Management of listed companies, ultimately fostering capital market development.
