ISAN Unveils Plan For First Annual General Meeting
The Independent Shareholders Association of Nigeria (ISAN) has unveiled plans for its first Annual General Meeting (AGM) in Lagos. According to a statement from the shareholders advocates group, the scheduled meeting will afford the association opportunity to present the comprehensive executive management committee report, income and expenditure statement, as well as the financial reports spanning from 2015 to 2021.
The association the meeting will focus on the audited financial report for the year ending December 31, 2022 and equally provide them opportunity to re-examine the commitments made to members during the 2022 election.
The statement explained that the executive has within the period collaborated with the Executive Management Committee to formulate effective strategies and policies for the implementation of the 12 objectives upon which ISAN was founded.
Specifically, the executive noted that they had successfully transformed ISAN into a knowledge-based investor group, equipping their members with the skills to analyze and interpret financial reports and various financial instruments, enabling them to make informed investment decisions.
Also the group pointed out that the challenging time have made them to review and amended the Association’s constitution through dedicated committees, introducing significant changes which will be presented for adoption and approval at the AGM.
Major highlights of the review are the introduction of the following clauses:
- Advisory Council
- Office of the Founder/Emeritus (Honorary)
- The Independent Electoral Committee (IEC) establishing procedure
- Audit / Compliance Committee and other amendments.
The statement said “To develop and put in place an administrative and operational manual that will spell out job description, duties and authority of officers and staff in line with the ISAN Constitution. Consequently, we are currently in discussions with Doyin Owolabi and Co., who have generously offered to assist in creating this operational manual with out a fee”.
Commenting on some of the activities towards moving the association forward, the National Coordinator of ISAN Moses Igbrude said “we are making effort to revive ISAN’s original culture of national mobilization, making our zonal offices more than just paper entities, ISAN is still committed to reinstating the spirit of selfless service within ISAN, education in investment and capital market matters are important to us”.
Igbrude said in the period ISAN instituted a quarterly meeting structure with the zones, and a WhatsApp platform which has been established to address zonal concerns. “Each zone has been tasked with creating a yearly activity progress report. I’m pleased to report that the Abuja Zone recently hosted its first public lecture”.
He explained that they have made plans to restore ISAN’s esteemed position in the capital market as a leading advocate for shareholders and companies, “we equally develop strong relationships with stakeholders, including the government, the National Assembly (NASS), the Securities and Exchange Commission (SEC), and other regulatory bodies, as well as other market operators. As promised, the committee engaged in collaborative visits to regulatory bodies and associations, including NAICOM, FRC, NOTAB, NGX Regulation Ltd, and the Association of Capital Market Correspondents (CAMCAM), Insurance and Pension Correspondents Association. We eagerly await visits from SEC and the Institute of Capital Market Registrars, and we intend to maintain these engagements as needed”.
Stressing that “plans are in top gear to manage ISAN as an institution that prioritizes the well-being of its members, offering a comprehensive welfare package to cater to the diverse categories of membership and members get what is due to them. On the future, the committee said that theare undeterred and have assumed the mantle of leadership to set an example. ISAN’s management will continue to strive for excellence and work toward restoring our association’s lost prestige.”