July 29, 2015/Punch

The African Corporate Governance Network has signed a memorandum of understanding with the African Stock Exchange Association to promote best corporate governance practices in organisations across Nigeria and Africa at large.

The MoU was signed after the bi-annual Executive Committee meeting of the ACGN, which was hosted by the Institute of Directors Nigeria, a statement said on Tuesday.

The President, ASEA and Chief Executive Officer, NSE, Mr. Oscar Onyema, who signed the MoU on behalf of ASEA, was quoted as saying that the agreement was the outcome of efforts made by both parties, spanning more than a year.

He said he was confident that the partnership would lead to positive results for both parties.

The Chief Executive Officer, Mauritius Institute of Directors, Jane Valls, who signed the MoU on behalf of the ACGN, was quoted as saying that both associations would work together to ensure that ethical leadership and good corporate governance practices were adhered to in companies.

According to her, good corporate governance is very important to the sustenance of growth in organisations.

The Chief Executive Officer, Ethics Institute of South Africa, Deon Rossouw, who was the guest speaker at a business forum which was held earlier, called on the directors to always act in the best interest of their organisations and to take legitimate interests and expectations of stakeholders into account in strategy determination.

Rossouw maintained that these and other ethical conducts would contribute to the growth of their organisations.