The Securities and Exchange Commission, SEC, has assured investors that the interest of minority shareholders would be protected during all transactions in the capital market. The Director General, of SEC, Mr. Lamido Yuguda gave the assurance yesterday while briefing journalists on the outcome of the first quarter Capital Market Committee meeting, CMC which was monitored virtually.
This follows the decision of Oando Plc to delist from the Nigerian Exchange Limited, NGX. He noted that protecting the interests of both majority and minority shareholders was the primary responsibility of the Commission.
“Protection of investors is the central mandate of the Commission and when the Commission protects investors, we do not discriminate between minority and majority shareholders.
“When there is a case of delisting, the application for the delisting comes to the Commission and we go through it very carefully to ensure that the shares of the company being delisted are fairly valued because fair valuation is what protects all the shareholders,” he explained.
Mr. Yuguda also noted that the Commission was working at ensuring that foreign and retail investors were retained and attracted to the capital market, observing that relative to other markets on the continent, the NGX has performed very well.
