Preamble Plans to harmonize the corporate governance legal framework in Nigeria began in January, 2013 when a Steering Committee on National Code of Corporate Governance was commissioned to harmonize and unify all existing sectoral codes in Nigeria. Consequently, in 2016, the Financial Reporting Council of Nigeria (FRCN) published a draft 3-part National Code of Corporate … More Nigerian Code of Corporate Governance 2018: necessity or superfluity?
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 … More New Corporate Governance code limits tenure of founders and leaders of religious and other non-profit organizations in Nigeria.
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 … More Harmonised Code of Corporate Governance for Private Sector in Nigeria, 2016: Highlights and salient provisions
Introduction Non-profit organisations are organisations that are prohibited by law from distributing profits to their members or officers. They are usually organised and operated for educational, social, professional, religious, charitable or any other non-profit purposes. Globally, there is a paradigm shift in the governance and accountability processes of organisations including non-profit organisations as they are … More New financial reporting requirements for non-profit organisations