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◆US suspends all flights across its territory◆Four killed and 15 injured in Ghana gold-mining shooting◆Journalist and parliamentary candidate killed in South Sudan◆Truck crashes into bus in India’s Assam state, killing 24◆Kabila’s FRN takes Nindja in South Kivu’s Kabare territory◆Manchester United appoint Mauricio Pochettino as new manager◆Russian drones hit Kyiv hospital, two killed in Odesa◆Iran threatens unlimited response after US attack◆Building under construction collapses in Kenya, killing six◆Microsoft outage disrupts financial markets◆Tenant kills building manager and wounds four in Washington◆Kenyan Parliament suspends regulations on lenders◆Microsoft outage disrupts Outlook and Teams in 74 countries
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🇳🇬 NigeriaBusiness

Nigerian corporate trustees seek changes to investment law

By , based on Business Day Nigeria

Nigerian corporate trustees seek changes to investment lawIllustrative image · RDNE Stock project · Pexels · Licence Pexels

The Association of Corporate Trustees of Nigeria wants the Trustee Investment Act amended to strengthen investor protection and its role in infrastructure financing. Its president Omolola Iyinolakan also announced work with regulators and standardised practices, according to Business Day Nigeria.

Omolola Iyinolakan, president of the Association of Corporate Trustees of Nigeria, wants to secure an amendment to the Trustee Investment Act, which she considers inadequate for the needs of the financial market, according to Business Day Nigeria. The association also plans to strengthen its dialogue with regulators, develop sector skills and standardise corporate trustee practices.

The Association of Corporate Trustees notably wants to develop a common operational manual and organise training and exchanges on market developments, according to Business Day Nigeria. Omolola Iyinolakan believes these measures should strengthen investor protection and improve the perception of corporate trustees among financial market players.

She also highlighted their role in Nigeria’s debt market: they represent investors' collective interests, monitor the use of funds raised, enforce the contractual commitments of transactions and ensure that issuers meet their repayment obligations, according to Business Day Nigeria.

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