In line with its collaborative regulatory philosophy aimed at promoting a transparent and fair market, NGX Regulation Limited (NGX RegCo) organized a two-day workshop for retail shareholders in Nigeria between Thursday, 23 November and Friday, 24 November 2023.
The workshop, themed “Rights and Responsibilities of Shareholders in Driving Corporate Governance” held at Nigerian Exchange Group House, Lagos featured distinguished speakers from legal, consulting and finance spaces.
Delivering the opening remarks, the Chief Executive Officer, NGX Regulation Limited, Ms Tinuade Awe expressed delight that NGX RegCo carried out a physical engagement with retail shareholders, which had not been possible since the Covid-19 work disruptions. She enjoined participants to participate actively to complement NGX RegCo’s efforts and objective of providing a fair and equitable market where their interests were well protected.
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During his presentation, Mr Femi Desmond Ojumu, Founder and Principal Partner at Balliol Myers LP a commercial law practice and multi-disciplinary strategy consultancy based in Lagos discussed the provisions of the Investment and Securities Act (ISA) 2007, the NCCG 2018 and CAMA 2020 with respect to shareholders’ rights and obligations.
Other speakers include Yussuf Apena of ARM Pensions Limited; Mr. Uchenna Uwechia, Lead Consultant/CEO of Arete Dunamis Corporate Consulting Limited, 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 several Shareholder Associations and other members of the retail shareholder community attended the event and openly expressed their views on their expectations from the regulators and the shareholder associations as well. The speakers emphasized the fact that communications with stakeholders must be mutually respectful to generate the right type of actions. The shareholders commended NGX RegCo for putting the workshop together which they suggested should be made an annual event.
Participants at the workshop agreed that all hands must be on deck to sanitize the market and bring the Boards and Management of listed companies to be responsible with the aim of spurring capital market development.
