Business
SEC Charges Stakeholders On Long Term Investments
A Director and Sec
retary to the Securities and Exchange Commission (SEC), Mr Edosa Aigbekaen, has urged investors to pay more attention to long term investment in the Nigerian capital market so that companies can grow and create better value.
Mr Aigbekaen made this known, yesterday while presenting a paper on corporate governance framswork in Nigeria at SEC’s workshop for journalists in Abuja.
He said shareholders should take more interest in sustainable returns and longer term performance and to be more active on corporate governance issues.
He noted that some people believe that investment in stocks is all about dividend and bonus, stressing that investors should be long term focused.
Aigbekaen said, the 2008 market crash brought to the fore issues of corporate governance in Nigerian corporate world.
He said shareholders and regulators in the Nigerian financial system have since then made significant efforts to promote good corporate governance practices in the public companies.
He confirmed that the framework for corporate governance differs from jurisdiction to jurisdiction.
According to him, “the focus of all frameworks is to ensure the integrity and stability of the financial system. While the framework in Nigeria is regulatory-driven; it is important for shareholders in Nigeria to have meaningful engagement with companies and hold the management to account for its performance.”
He affirmed that a good governance framework can play an important role in helping boards gain a better understanding of their oversight role.
“Some institutional investors are known to demand good corporate practices from the manager of their companies; a lot more is expected of the majority of small holders who are known to be very passive. The shareholders association should be more responsive to ensuring accountability and effective management of their company,” he said.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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