The Securities and Exchange Commission (SEC) has received praise from minority shareholders of Tourist Company of Nigeria Plc (TCN) for its ethical approach to TCN’s supervision.
Minority shareholders, who make up more than 4,000 members of the corporation, claimed that their stakes in the publicly traded company had been negatively impacted by boardroom politics and family conflicts for years.
According to them, the situation was almost without solution, with no dividend paid for so many years, until the regulatory intervention of the SEC seven years ago, which halted the affairs of TCN “from the spiralling loss, and lack of accountability before this intervention, which was welcomed by the minority shareholders”
About The Author
