Note also that 234NEXT bears no responsibility for what readers post and is not liable for any form of impersonation. At the time when IPO's were being organised to raise 25billion, it was clear that many owner/MD's were not willing to cede control of the banks. With the co-operation of money launderers, rougs and pen-robbers in govt outfits, they retained their control by round-tripping funds and calling it "foreign direct investments" and "diaspora funds". It does place an "Iroko" sized question mark around the (im)possibility of a confluency of self-interest from a regulatory/governance and ownership/paranoia divide given the opaque Nigerian experience. Without active policy intervention – as is trickling down from Sanusi, I do not see the typical "Uber" owners that sit atop the share ownership structure, gingerly ceding to the implied transparency that shareholder identification portends. However, it calls for sustained and rigorous policy intervention & enforcement and not mere words. read more

Technorati Tags: control, identification, intervention, policy, shareholder, , investor seminar news