Shareholders in Great Nigeria Insurance (GNI) Plc yesterday expressed worry over the inability of the company to hold its 2014 and 2015 Annual General Meetings (AGM).
The President, Constance Shareholders’ Association of Nigeria, Mr Shehu Mikail, told newsmen in Lagos that failure to hold the meetings had put the shareholders in the dark about the company’s state.
He urged the company to present its 2014 and 2015 accounts to its investors and the general public for its integrity and that of the shareholders.
“As the President of the association, I went to the company in March 2016 to dialogue with the management on behalf of my members but I was denied access to the Managing Director, Mrs Cecilia Osipitan.
“I repeated the visit in July 2016 and the earlier scenario repeated itself.
“However, in October, I was able to speak to Osipitan and she promised that the company would hold its AGM by December 2016.
“To my surprise, the company hasn’t as we speak,” he said.
According to him, the shareholders are not happy with the development and will like to see the company change its stance.
However, in a telephone interview, Osipitan denied the allegations.
According to Osipitan, the company holds its AGM constantly, and the only exception was with that of 2015.
“The company will hold the 2015 AGM by February.
“It was only last year we didn’t hold AGM and it was because GNI was waiting for the National Insurance Commission to approve the statement of accounts.
“Now that the account has been approved, the AGM will hold in February,’’ she said.
Osipitan urged the investors to be calm, assuring them that the management would always protect their investment.
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