With the release of the exposure draft of Nigerian Code of Corporate Governance by the Financial Reporting Council of Nigeria (FRC), stakeholders in the financial services industry work on ways the Code can impact Nigeria’s economic and structural development. OLUSHOLA BELLO writes.
Nigeria adopting a unified and efficient high corporate governance standards would rebuild public trust and confidence in the economy, facilitating trade and investment and contributing to the ease of doing business.
The concept of corporate governance is attracting increasing attention from investors, regulatory bodies, development agencies and other major stakeholders. It has been observed over the years that corporate failures in the advanced and developing countries have their roots in negligence or deliberate unethical behaviour of the boards and top managements of corporations.
To avert more corporate failures and the attendant economic consequences, stakeholders are clamouring for improved…
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