Monday, December 5, 2022

Shareholders Seek End To Judicial Issues Affecting Investors

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Shareholders under the auspices of the Independent Shareholders Association of Nigeria (ISAN) have said, it is seeking to address judicial issues stifling the activities of investors and its effect on the capital market and the economy at large.

This was stated at  a press briefing to announce its seventh Triennial Delegates Conference and Gala Night slated for  October 27, 2022 in Lagos.

Speaking on this, the national coordinator of ISAN, Prince Anthony Omojola said, the event was necessitated by the urgent need to proffer a panacea for several policies and laws that is stifling the activities of the capital market thereby deterring investors.

The Triennial event with the theme ‘Administration of Justice in Nigeria and our Economy’, will be a platform for all strategic stakeholders in the nation’s economy and the Nigerian Capital Market (NCM) with focus on issues that are pertinent to economic development and corporate governance.

Noting the viable role that ISAN has played in the past with regard to protection of the interest of investors’,  Omojola reiterated the association’s commitment saying that this year’s edition would focus on discussion of new ideas that will help in strengthening the judicial system.

According to him, as a watchdog of publicly quoted companies, we have charged ourselves with the responsibility of ensuring that all stakeholders adhere to the rules in accordance with Best Corporate Practices with diligence.

He noted that the performance of the market is largely based on government policies. He added that the current policies regulating the macro-economic environment are not favourable to the operation and growth of the economy and that ISAN seeks to interface with the government for the redress of such policies.

“We know the way our capital market is structured; it operates under certain policies of the government. When the policies are good, the market comes out good, but when the policies are bad, the market suffers,“ he explained.

He said: “with the Governor of Lagos State, Babajide Sanwa-Olu as the chief host, the event promises to involve top government and private sector officials including delegates of regulatory agencies such as the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Corporate Affairs Commission (CAC), the Nigerian Exchange Group (NGX) and delegates of ISAN from zones all over Nigeria.”

The general secretary of ISAN, Chibuzor Emmanuel said: the association has been at the forefront of advocacy for the protection of interest of investors.

In the area of unclaimed dividend, which stands at N177 billion as at 2021, he said, ISAN would continue to engage its members and the public in sensitisation on how the capital market really works and how they can claim their dividends.

He enjoined all stakeholders’ to take active part in the coming Delegates’ Conference and play their respective roles in improving the growth of the economy.

 

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