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?
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
On Monday July 4, 2016, the Central Bank of Nigeria (CBN) released a Press Statement on Skye Bank to inform the public of its decision to effect key changes on the board and management of Skye Bank Plc because the bank had fallen short of minimum thresholds in critical prudential and adequacy ratios. The statement further … More Regulatory intervention in Skye Bank Plc: outcome of failure in Corporate Governance
Corporate Governance is about how organisations are managed and it encompasses a range of aspects with various roles for various participants or stakeholders in the organisational system of a company. A critical participant in this system is the Board of Directors. Universally, it is accepted that the Board is responsible for the performance of the … More Statistics of Board composition of 30 most capitalised companies on the Nigerian Stock Excahnge
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 … More Nigerian Stock Exchange to introduce Corporate Governance Index for listed companies
Introduction The Nigerian Stock exchange is proposing amendments to the Rules and Regulations Governing Dealing Members (The Rules) to bring it in line with global best practices and achieve a balance between promoting investment and deterring wrongful behaviour in the market. One of the key amendments proposed is to effect the prohibition of money laundering … More Mandatory biometric data capture for trading on the Nigerian Stock Exchange: A proposed amendment to the rules.