In order to curb the spread of the Coronavirus (COVID-19), the Federal Government of Nigeria has placed some States in Nigeria on a total lock down. Certain State Governments have also imposed public gathering bans. These measures will no doubt impact on the ability of companies to hold general meetings. In reaction to the foregoing, some public companies have announced the postponement of their Annual General Meetings (“AGMs”). Others have approached the Corporate Affairs Commission (“CAC”) for permission to conduct their AGMs via “attendance by proxy” only.
In this piece, we examine the effect of the COVID-19 pandemic on the ability of companies to conduct general meetings and possible options of validly conducting such meetings in spite of the large public gathering bans.