By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday announced it will launch its premium board in 2015.
Oscar Onyema, chief executive officer of the NSE made this disclosure at the launch of the Corporate Governance Rating System (CGRS) for listed companies in Lagos Nigeria.
The Nigeria’s Exchange said only companies with the highest corporate governance level will be listed on the premium board.
NSE affirmed the CGRS is a criterion for companies to be listed on its premium board in 2015.
The newly launched CGRS rates all listed companies in Nigeria on their corporate governance and integrity practices.
According to the NSE, qualifying companies that clear certain market capitalisation and liquidity criteria becomes part of a premium board on the Nigerian bourse.
In the same vein, the NSE also plans to rate all listed companies and place them in a tradable basket-the Corporate Governance Index.
Onyema however, declined to shed more light on the proposed premium board to be introduced on the Nigerian bourse. “We are still working on it and would not want to say much; when the time comes Nigerians will be availed with all information as regards the premium board,’’ the NSE CEO affirmed.
The newly introduced CGRS is an initiative of the Nigeria’s Exchange and Convention on Business Integrity (CBi), an organisation promoting ethical business practices, transparency and fair competition in the private and public sectors.
