,
5 tweets,
2 min read
Read on Twitter
This was probably lost in all the politics of January. @Asorock - through the Fin Rep. Council - this month launched a NEW Code of Corporate Governance for Nigeria,which "seeks to institutionalise corporate governance best practices in Nigerian companies." pwcnigeria.typepad.com/files/nigerian…
"Sections 11c and 51c of the Financial Reporting Council of Nigeria Act
confer upon the Council, the powers to ensure good corporate governance practices in the public and private sectors of the Nigerian economy and to issue the code of corporate governance and guidelines."
confer upon the Council, the powers to ensure good corporate governance practices in the public and private sectors of the Nigerian economy and to issue the code of corporate governance and guidelines."
"By adhering to the principles articulated in this Code, companies will
demonstrate a commitment to good governance practices and increase their levels of transparency, trust and integrity, and create an environment for sustainable business operations."
demonstrate a commitment to good governance practices and increase their levels of transparency, trust and integrity, and create an environment for sustainable business operations."
"The Code is aimed at companies of varying sizes and complexities across industries. Consequently, flexibility – the ability to apply the Code in a wide range of circumstances, and scalability – the ability to apply to companies of differing sizes, are of utmost importance..."
"Where so required, companies should adopt the “Apply and Explain”
approach in reporting on compliance with this Code. The ‘Apply and
Explain’ approach which assumes application of all principles and requires entities to explain how the principles are applied."
approach in reporting on compliance with this Code. The ‘Apply and
Explain’ approach which assumes application of all principles and requires entities to explain how the principles are applied."
