SEC declares TCN’s AGM null, void, maintains regulatory control

The Securities and Exchange Commission (SEC) has declared the purported Annual General Meeting (AGM) of The Tourist Company of Nigeria (TCN) Plc, held on July 25, 2025, null and void.

The Commission issued this position in a public notice on Monday, warning that any resolutions arising from the disputed meeting would not be recognised.

According to the SEC, the meeting was held in defiance of an express regulatory order and without its approval, despite the Commission’s earlier intervention in the governance of the company.

The meeting reportedly led to the unauthorised removal of SEC-appointed interim directors and the board secretary, actions the Commission described as illegal and capable of destabilising the company.

In its statement, the SEC condemned the actions of some majority shareholders who allegedly convened the meeting without observing due process.(DL/Nation)