Directors typically – save for Independent Directors – are not precluded from holding shares in companies on whose Boards they serve. Indeed, some companies by their Articles of Association prescribe shareholding qualification for Directors. Section 251 (1) & (2) of the Companies and Allied Matters Act, 2004 (CAMA) provides a basis for this. Where so […]

The concept of ‘Influence’ and its impact on an organization’s performance is a subject that has held interest for quite some time. A two-edged sword that is often subject to more than one meaning, Influence may be positive or negative, the latter typically characterized by qualifying adjectives such as ‘negative’ or the more sublime ‘undue’ […]

According to Section 279 of the Companies and Allied Matters Act (CAMA), as fiduciaries, Directors are expected to act in good faith at all times – a duty primarily owed to all stakeholders in the Company; exercise power only for proper purpose –  if not, they may be liable to the Company for losses incurred; […]