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Nairaland Forum / Kayphyzee's Profile / Kayphyzee's Posts
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Health / Re: Please Help Out I Have Oral Infection Graphic Pics by kayphyzee(m): 6:14pm On Jul 17, 2022 |
Uglygurl: Good afternoon. My second son was recently examined by an ENT who advised us to go for a procedure but his fees are quite high. Where did you take your son for this procedure? 1 Like |
Travel / Re: Canadian Student Visa Thread Part 20 by kayphyzee(m): 10:42am On Sep 06, 2021 |
Hello guys, quick one please. I heard that Nigerian Immigration are now asking for evidence of tuition fee payment before allowing passengers travel. 1 Like |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 9:41pm On Jun 06, 2021 |
Kirkman: Permit me to enlighten you and @Sandra50 on this. The 2020 CAMA now permits an individual to register a Limited Liability Company as a the sole shareholder. So @Sandra50's concern has now been addressed. 3 Likes |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 9:34pm On Jun 06, 2021 |
Kzinne: Let's add constructive comments to the discourse. I haven't said anything different from what you posted and referenced. Why quote me, with a view to correct an impression? Please feel free to point out where I made a wrong submission. 1 Like |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 9:32pm On Jun 06, 2021 |
mufadem2012: You may get away with this provided the Company operates in a non-regulated industry. The different codes of corporate governance prescribes a term for Directors (both executive and NEDs) and MD/CEOs. Reference CBN Code, SEC Code and the FRC Code. |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 8:53pm On Jun 06, 2021 |
Kzinne: I don't understand you. Did the source you quoted contradict what I wrote. I even went further to state that we don't have NSE again, the entity is now called NGX Group. This is my field of practice, and I need no Wikipedia to reference. 2 Likes |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 8:49pm On Jun 06, 2021 |
Rick9: Listing requirements of the the NGX - at least 20% must be offered to the public. Your Company must have a market capitalization of at least N4billion. 1 Like |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 8:47pm On Jun 06, 2021 |
Rick9: Think big Bro, think big. Going public gives the Company unlimited room for growth. After a while, you start thinking about sustainability. Building an entity that will outlive you. NSE will require that at least 20% of the shareholding should be offered to the public. The big bank boys (Ovia, Elumelu, Late Aderinokun etc) still hold substantial shareholding in the banks (directly and indirectly) even though they no longer perform executive roles. 5 Likes 1 Share |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 8:39pm On Jun 06, 2021 |
Kzinne: SEC is a regulatory body for the capital market and public companies. It also does oversight functions for M&A transactions. NSE (now NGX Group) is a now capital market operator registered as a profit-oriented company. 3 Likes |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 8:35pm On Jun 06, 2021 |
I still see a lot of people mixing up these terms. The legal status of a Company in law is that the Company has a separate legal personality from its promoters. Unless you register your business as a sole proprietorship/business name, the Company is different from the founder/promoter. If the founder/promoter is a shareholder in the company, the Board cannot make the founder leave as a shareholder unless he/she divests or transfer his/her shareholding to other people. Just so this is clear, ownership equates being a shareholder. On the other hand, If and only if the promoter/founder performs executive functions in the Company can the Board remove him/her. If the promoter/founder is a Non-Executive Director, only the shareholders or regulator can exercise the power of removal. 4 Likes 2 Shares |
Investment / Re: Can The Board Of Directors Fire The Owner Of A Company? by kayphyzee(m): 7:25pm On Jun 06, 2021 |
Very interesting topic. I'll break it down as follows: 1. Ownership of a company is tantamount to holding shares of the Company. In this case, the founder will hold majority of the shareholding The board of directors cannot remove a shareholder of a company. CAMA does not give the directors the right to do so. As long as a person is a shareholder of a company, only that individual reserve the power/right to divest as he/she pleases. Even where the Company increases its capital structure and the founder's shares become diluted overtime, the board has no power to remove that person as a shareholder. 2. Where a majority shareholder/founder is engaged in an executive capacity as an employee of the Company (in this case, either the CEO, MD or ED), the Board has the power to remove him/her. However, if the founder/majority shareholder is on the board in a non-executive role, ONLY the shareholders (at an AGM) or the regulators (exercising oversight functions) like NCC, CBN etc can remove such an individual. The other board members have no power to remove a fellow director. 7 Likes |
Properties / Re: Urgent Sale - Property In A Prime Location At Atan Ota. by kayphyzee(m): 8:40am On May 25, 2021 |
Good morning beautiful people, this property is still on the market. Sharp sale |
Properties / Re: Urgent Sale - Property In A Prime Location At Atan Ota. by kayphyzee(m): 5:55pm On May 24, 2021 |
Still available for inspection and purchase. |
Properties / Re: Urgent Sale - Property In A Prime Location At Atan Ota. by kayphyzee(m): 3:11pm On May 14, 2021 |
Other pictures of the property
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Properties / Urgent Sale - Property In A Prime Location At Atan Ota. by kayphyzee(m): 3:10pm On May 14, 2021 |
Location: Atan Ota - facing the main road, beside YTK Petrol Station. Use: Prime location for either commercial/residential use Size: 150ft x 90ft Advantages: Serene Environment Features: An uncompleted five (5) bedroom bungalow, and large unused part at the back of the building Nature of title: Stamped Deed. Approved and Stamped Building Plan Price: N9million (Nine Million Naira) slightly negotiable. Please see the pictures for further reference. Contact: 08035181080 (Call, Text, WhatsApp) to schedule an inspection. Let's close this deal.
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Religion / Re: Oyedepo’s 100,000-Seater Auditorium ‘The Ark’ To Gulp ₦160 Billion by kayphyzee(m): 4:00pm On Apr 15, 2021 |
This title is misleading and sensational. The Building will be owned by the Church and not Bishop Oyedepo. |
Car Talk / Re: Knocking Sound In My Toyota Rav4 2004 Model.... by kayphyzee(m): 12:11pm On Mar 01, 2021 |
This is coming from someone who was directed affected by a similar problem. Just save up to buy a tokunbo engine, for peace of mind. Repair works will get you going for few months only. Going to two years now, the engine I changed is still in a very good working condition. Early morning and evening steam. |
Technology Market / Re: Device sold 1 Month Used Redmi 7A (2gb/16gb) For Sale - N25,000 by kayphyzee(m): 6:07am On Aug 16, 2020 |
Device sold. |
Technology Market / Re: Device sold 1 Month Used Redmi 7A (2gb/16gb) For Sale - N25,000 by kayphyzee(m): 9:50pm On Aug 10, 2020 |
Still available for your pick up |
Technology Market / Re: Device sold 1 Month Used Redmi 7A (2gb/16gb) For Sale - N25,000 by kayphyzee(m): 12:02pm On Aug 10, 2020 |
OS details
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Technology Market / Device sold 1 Month Used Redmi 7A (2gb/16gb) For Sale - N25,000 by kayphyzee(m): 12:00pm On Aug 10, 2020 |
Post deleted from the previous section it was posted. I am selling my Redmi 7A, which I bought July 18 (as evidenced in the attached receipt). The device is fully functional, accessories intact. I want another Xiaomi device with bigger internal storage, that's why I am selling this one. Latest miui installed already. Bought two devices (as shown in the receipt attached), one for Madam and I. I want to buy a Xiaomi 8A or 8 (32gb and above). |
Phones / Re: Phone Engineers On Nairaland Willing To Assist You - Part II by kayphyzee(m): 5:48am On May 31, 2020 |
Dear NLanders, I need a technician in Lagos to work on these devices for me. 1. Infinix Smart with a faulty panel. 2. Android Groovv Tablet with a faulty screen touch. |
Phones / Re: Technicians Needed by kayphyzee(m): 12:24am On May 31, 2020 |
comshots: Please give me your WhatsApp number. |
Phones / Re: Technicians Needed by kayphyzee(m): 6:10pm On May 30, 2020 |
comshots: Smart - Suddenly stopped working. I've had a technician look at it and he advised that we need a new panel. Unable to get any since. Tablet - Screen is not responsive to touch. Cracked. |
Phones / Re: Technicians Needed by kayphyzee(m): 6:06pm On May 30, 2020 |
mayor4891: Lagos. Ipaja. |
Phones / Technicians Needed by kayphyzee(m): 4:22pm On May 30, 2020 |
Dear NLanders, I need a technician in Lagos to work on these devices for me. 1. Infinix Smart with a faulty panel. 2. Android Groovv Tablet with a faulty screen touch. Any technician with expertise should please reply this post so we can discuss further.
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Technology Market / Re: Professor On Any Type Of Generator. by kayphyzee(m): 11:09am On Apr 06, 2020 |
enochogaga: Thank you for your recommendation. |
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