Non-Executive Director Roles and Minority Shareholder Protection in Listed Companies in Onitsha, Anambra State

This study examines the roles of non-executive directors in protecting minority shareholder interests in listed companies with major operations in Onitsha, Anambra State. Minority shareholders are particularly vulnerable to expropriation by dominant shareholders and management in firms with concentrated ownership structures. Non-executive directors, particularly independent ones, are expected to serve as guardians of minority investor rights by providing objective oversight and challenging self-dealing transactions. The study is grounded in agency theory and draws on recent Nigerian capital market literature. A survey design is adopted, with questionnaires administered to 140 minority shareholders and independent directors of selected listed firms. Interviews with stockbrokers active in the Onitsha market supplement primary data collection. Data are analysed using descriptive statistics, Likert scale interpretation, and bivariate correlation. The study anticipates that firms with higher proportions of independent non-executive directors demonstrate stronger protections for minority shareholders, as measured by dividend consistency, related-party transaction disclosures, and shareholder grievance resolution rates. Findings will assist the Securities and Exchange Commission, company secretaries, and investor advocacy groups in strengthening minority protection mechanisms. This research contributes to the South East regional governance literature and offers practical insights relevant to capital market development. Keywords: non-executive directors, minority shareholders, corporate governance, listed companies, Anambra State.