ANALYSIS OF THE LAW ON COMPANY MEETINGS IN CONTEMPORARY CORPORATE GOVERNANCE IN NIGERIA

CHAPTER ONE GENERAL INTRODUCTION

Background to the Study

Meetings, are undoubtedly the primary communicative practice of humanity, particularly institutions and groups. It is used to accomplish goals, disseminate vital information and solve problems. It gives opportunity for social contracts  and development of inter-personal relationships. Families, schools‟ management, town leadership, grass root movement, Governmental department, organisational councils and even the legislative and executive arms of the Government, all function through the mechanism of meetings. Thus, meetings cut across every facet of life and from the foregoing; it shows that there are different kinds of meetings that can be convened.

This work is principally concerned with meetings conducted by incorporated companies. Meetings conducted by companies are governed by law or regulations relating to the convening and conduct of the meetings and ancillary matters. In Nigeria, the meetings of incorporated companies are governed by the Companies and Allied Matters Act¹ hereinafter referred to as the CAMA.

Company meeting, is an indispensable tool of corporate governance. It is meant to be a key instrument for the protection of investors (shareholders and creditors) and the means by which members tame the activities of overzealous and recalcitrant orcorrupt directors and officers of the company. Thus, it is the most viable means of improving the management of a company.