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Minority shareholders meet to save capital market from plummet

Minority shareholders in the country have formed alliance to protect the Nigerian capital market from current lull and future occurrence. Susman and Associates, in partnership…

Minority shareholders in the country have formed alliance to protect the Nigerian capital market from current lull and future occurrence.
Susman and Associates, in partnership with shareholders’ groups formed an initiative, aimed at enhancing the Voice and Voting Power (VVP) of minority shareholders and addressing inhibitors of optimum performance of the nation’s capital market.
Speaking at the gathering of leaders of shareholders groups in Nigeria former minister for National Planning, Dr. Samsudeen Usman explained that the new initiative would explore areas in which the conduct of yearly general meetings and other practices by public companies in Nigeria can be improved in line with international best practice. 
He added that it would also articulate reforms that would help increase compliance with the Securities and Exchange Commission (SEC) code of corporate governance for public companies and shareholders associations.
The President, Advancement of Rights of Nigerian Shareholders, Dr. Faruuk Umar explained that the new initiative would help sanitize the activities of various shareholders groups and the entire capital market.
“We have over 100 shareholders groups in Nigeria and through this medium, guideline would be set up and ensure that every shareholder abides by these guidelines to enhance discipline and good conduct in meetings and public gatherings.

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