August 17, 2022/NGX
Nigerian Exchange Limited (NGX) said it remains committed to playing a leading role in promoting corporate governance amongst listed companies and within the capital market ecosystem.
The CEO of NGX, Temi Popoola stated this at NBA-SBL Corporate Governance charter launch. The launch of the Corporate Governance Charter was jointly promoted by Nigerian Bar Association Section on Business Law (NBA-SBL), Nigerian Exchange Limited (NGX) and the Institute of Directors, Nigeria (IOD).
Popoola said “the Corporate Governance Charter is a key milestone document in our quest to promote good corporate governance practices in Nigeria by re-emphasizing the principles of transparency and accountability, strong governance structure and corporate responsibility.
He applauded the progress being made through the tripartite partnership of NGX, NBA-SBL and IoD Nigeria following the launch of Corporate Governance Triangle in March earlier this year.
According to the NGX boss, this commitment builds on the firm belief that we share with NBA-SBL and IoD Nigeria, that good corporate governance and compliance structures are foundational requirements for facilitating competitive advantage and profitability, which ultimately stimulates capital market efficiency, economic growth and investments.
“As a securities exchange, we recognize our truly unique role as an organization that can foster the growth of long-term sustainable capital while positively influencing our key stakeholders to adopt sustainable business practices, including best corporate governance practices and policies. Promoting effective and sustainable leadership is critical for us to achieve this objective, and for this reason, the partnership with IoD and NBA-SBL remains is of paramount importance to us.”
He noted that the launch of the Corporate Governance Charter builds on a number of initiatives implemented by the Exchange which demonstrate its track-record of leadership in promoting corporate governance over the years; the incorporation of Corporate Governance principles in NGX’s listing and post-listing requirements; Corporate Governance Rating System; NGX CG Index; NGX X-Academy.
He added that the Corporate Governance Charter launched today represents another milestone in ensuring good corporate governance is not just a tick boxing exercise for companies, saying this would encourage companies to examine their performance on the four P’s – People, Performance, Process and Policies and adopt best corporate standard practices.
He further said “NGX is delighted to continue its collaboration with IoD Nigeria and NBA-SBL to implement the Corporate Governance Charter across our ecosystem and we look forward to working together to bolster strong corporate governance standards and practices in Nigeria.”
