Customs Street Advisors

This week on Street Talking in NEXT, I argue that the time has come for public companies on the Nigerian Stock Exchange to lay down rules on the extra-company activities of directors, particularly those which involve regulatory responsibility or political involvement.

I have just finished reading a stimulating piece by Femi Awoyemi of ProShare on the potential conflicts of interest Senator Udo Udoma, the City grandee and chairman of the Securities and Exchange Commission (SEC), will be exposed to in his latest appointment as the chairman of UAC. To calm public concerns over any ethical risks he may run, Senator Udoma, who also sits on the boards of Nestlé and Linkage Assurance, has issued a staunch defense on the correctness of his appointment. The last time this subject provoked a passionate debate was over the position of Professor Ndi Okereke-Onyiuke, director-general of the Nigerian Stock Exchange, as chairman of Transnational Corporation, a quoted company. Read More…

This week in Street Talking on NEXT, I share my views on the probable preoccupations of shareholders and boards in the coming year.

As the year draws to an end, it is tempting to make prognostications for the coming year. If I had to identify the main trends contending for top spots on the investment community agenda in the coming year, I would forecast a rise in shareholder interest in corporate governance and heightened monitoring of capital structure evolution as it impacts the stakes of antecedent shareholders. My outlook is that passive shareholder acquiescence will be replaced by active participation in strategic decision-making, particularly among holders of non-negligible blocs of stock.

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