Sanction-backed corporate governance code for Banks and Discount Houses in Nigeria

  With effect from October 1, 2014, a new regime of corporate governance is expected to be in operation in the Nigerian banking industry. By a circular ┬ádated May 16, 2014, the Central Bank of Nigeria (CBN) forwarded the new code of corporate governance and guidelines for whistle blowing in the banking industry to the … More Sanction-backed corporate governance code for Banks and Discount Houses in Nigeria

Is the independent director really independent?

Photo credit: freedigitalphotos.net Introduction Independent directorship has gained considerable significance in modern corporate governance, especially in developed economies. A basic feature of corporate governance codes in most jurisdictions is the use of non-executive directors who are usually independent of management. The non-executive director is a member of the board who does not have any executive … More Is the independent director really independent?