UBA Cap­i­tal boss urges in­sti­tu­tional in­vestors to be con­scious

Daily Trust - - BUSINESS -

A fi­nan­cial ex­pert has urged in­sti­tu­tional in­vestors to re­main con­scious of their rights and re­spon­si­bil­i­ties in ef­fect­ing the much needed change in gov­er­nance stan­dards in the Nige­rian fi­nan­cial mar­kets.

The Group CEO of UBA Cap­i­tal, Mrs. Oluwa­toyin Sanni, gave the chal­lenge while speak­ing at UBA Cap­i­tal first do­mes­tic in­sti­tu­tional in­vestor event fo­cused pri­mar­ily on the pen­sions in­dus­try in La­gos with the theme: “The Crit­i­cal Role of In­sti­tu­tional In­vestors in Cor­po­rate Gov­er­nance.”

Ac­cord­ing to her, de­spite the goals of op­ti­mis­ing re­turns, the ef­fec­tive­ness and cred­i­bil­ity of the en­tire cor­po­rate gov­er­nance sys­tem will, to a large ex­tent, de­pend on in­sti­tu­tional in­vestors who make in­formed use of their share­holder rights and ef­fec­tively ex­er­cise their own­er­ship func­tions in com­pa­nies in which they in­vest.

In his ad­dress, the Chair­man of Pen­sion Fund Oper­a­tors (PENOP), Mr. Mis­bahu Umar Yola, who was the guest speaker, en­joined key in­sti­tu­tional in­vestors such as Pen­sion Funds, As­set Man­agers, In­vest­ment Banks, Cash Rich Cor­po­rates, In­sur­ance Com­pa­nies, and En­dow­ment funds to take up some re­spon­si­bil­ity and ac­count­abil­ity in our pur­suit of cor­po­rate gov­er­nance.

He stressed that as glob­al­i­sa­tion pushed the bound­aries of businesses across dif­fer­ent ge­o­graphic re­gions and mar­kets, there was an in­creased de­mand for com­pa­nies to be more trans­par­ent, ac­count­able and re­spon­si­ble to var­i­ous stake­hold­ers.

Act­ing Di­rec­tor Gen­eral of the Na­tional Pen­sion Com­mis­sion (PENCOM), Mrs. Chinelo Ano­huA­mazu, who was the spe­cial guest of hon­our, said that pen­sion fund as­sets have ex­pe­ri­enced a steady growth un­der her lead­er­ship from N2.9 tril­lion in De­cem­ber, 2012 to N4.1 tril­lion as at Jan­uary 2014 due to stead­fast im­ple­men­ta­tion of the in­vest­ment reg­u­la­tions which has con­tin­ued to en­sure the safety of pen­sion funds.

Mrs. Oluwa­toyin Sanni

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