By Hannah Isibor, Magbegor Zino & Paul Metu

Adebayo Okinola

Some are doing their duties and some are not doing well because most of them are not really knowledgeable in the interpretation of companies’ reports and acounts. For example, most of them just go to AGMs to collect their gift items. They are not stopping you to scrutinise the management to find out how they can make improvement, and that is the aim of AGMs.

Some of them are bribed with gifts; they don’t attend the meeting and this is not the main reason why the AGM is been conducted. The AGM is being conducted to find out what your management is doing and you should be able to scrutinise the management whether they are doing well or not. When you come for AGM, you come purposely for you to look at what your company is doing; if the company is performing well or not and if not what is the solution? But if the shareholders come and are bribed with money. Some shareholder organisations collect money for their members and this is a way of bribing shareholders not to talk. We have a lot of things to do in order t
o put shareholding in the proper perspective.

Olagoke Samson

I have heard a lot about a lot of people particularly those of us in shareholders’ groups who are very articulate. for instance, some of the leaders of various shareholders’ groups who could also be referred to as advocates for their members, asked questions and you’ll find out that the questions that were asked made a lot of sense.

I think shareholders should organise associations and join. It is also a form of advocacy, instead of seeking for an advocate that will be in charge of all shareholders. The benefits of a shareholder organisation is that it gives you the leverage to be conversant with happenings in the capital market, your voice will be heard more easily than when you speak as an individual shareholder.

Williams Adebayo

The shareholders associations are carrying out their duties well. The groups that are available constitute only old men, the elites we had after independence. We have some other associations, but looking at these associations, they existed immediately after we got independence. Immediately we gained our independence; the elite class as at that time set up those associations and majority of them are well over fifty years in the group because they started leading right from the time we gained independence. If you look at those existing associations, you come to find out that what they are doing is not even enough because their members are extremely old people. We need more shareholders associations especially with the upcoming youths; i.e. from our higher institutions, encourage them that investments is as cheap as them buying snacks.

Elder Ade Oduntun

It is an avenue for shareholders voice to be heard and it is an important aspect in shareholding. Shareholders are the assets in every company; companies need us to boost their revenue which is the sole aim of every organisation- to make profit. We are of immense benefit to the companies which we have invested in and so, if they take any decision which is not profitable  for us, we will need a platform with which we would use to talk to them. So belonging to a shareholders association is very important.

Apostle Animasahum

The associations are not performing in the right direction because they are self cantered. It is because of this monetisation aspect of it which makes everything cumbersome. If we call ourselves associations, we should have the culture of understanding, culture of give and take spirit; if I leave everything for you today then you can equally reciprocate tomorrow.

They should organise a forum where stakeholders will have to assemble and people will be allowed to speak. If I have some good idea and I am not allowed to speak, it  will die a natural death. If you want to improve the relationship of the association with the management, it means that there must be a forum where they will invite all these people and stakeholders will be allowed to speak.