Browsing by Author "Animashaun, O. and Chitimira, H"

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    A Legal Analysis of the Protection of Minority Shareholders under the Nigerian Companies Act
    (University of Leicester, UK, and University of Warsaw Poland,, 2021) Animashaun, O. and Chitimira, H
    This article focusses on the dichotomy between majority and minority shareholders in Nigerian corporations. This paper therefore examines the manner in which the majority shareholders who are often the directors of these corporations abuse their power. The paper found that majority shareholders in many corporations usually use their voting power and influence to oppress, maneuver and impose their will on the minority shareholders. The paper also found that there are onerous impediments for minority shareholders to enforce their rights under the Companies and Allied Matters Act, Chapter C20 LFN, 2004. The paper concludes that there is the need for certain provisions of the Companies and Allied Matters Act, such as section 301, to be amended in order to protect the interest of minority shareholders, who are numerous and usually passive investors. The paper recommends that legislative measures should be employed to rectify the observed flaws in order to protect the interest of the minority shareholders and indeed all shareholders.