New Corporate Governance code limits tenure of founders and leaders of religious and other non-profit organizations in Nigeria.

The financial Reporting Council of Nigeria recently released a harmonized code of corporate governance applicable to three key sectors – public, private and non-profit sectors. The unified code is coming on the heels of the identified need to infuse and standardize healthy corporate governance practices for the various sectors and strengthen accountability and transparency in…

Harmonised Code of Corporate Governance for Private Sector in Nigeria, 2016: Highlights and salient provisions

A milestone has been achieved in Nigeria’s Corporate Governance landscape with the commencement of the much anticipated National Code of Corporate Governance from October 17, 2016. The commencement is coming almost three years later than the originally planned date – January, 2014. According to The Financial Reporting Council of Nigeria (FRC), the Code of Corporate…

Corporate Governance in action: The Afren Plc example

The global architecture of corporate governance is certainly witnessing increased activism as corporations have begun to take drastic measures to check abuse of executive office more than ever before. In recent times, shareholder activism, board diversity and corporate governance enforcement are some themes that have received increased attention in the sphere of corporate governance. With…

Nigerian Stock Exchange to introduce Corporate Governance Index for listed companies

It is now a well settled fact that good corporate governance is instrumental to the overall well-being and productivity of corporate organisations. The global financial crisis provided a classic case of the effect of weak corporate governance in corporate organisations. In Nigeria, some corporate failures exposed the gross deficiencies in the area of Corporate Governance…