Nigerian Exchange CEO highlights value of Corporate Governance in capital market

Temi Popoola, CEO, Nigerian Exchange Limited (NGX) has highlighted the value of sound corporate governance as the foundation that creates transparency and establishes the trust required to keep the global financial system running.

He said this on Tuesday, March 22, 2022 during the launch of the Corporate Governance Triangle, an initiative of the Nigerian Bar Association Section on Business Law (NBA-SBL), Nigerian Exchange Limited and the Institute of Directors, Nigeria (IoD).

Speaking at the event, Popoola, represented by Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited, said, “As a securities exchange, we recognize our unique role in fostering the growth of long-term sustainable capital by positively influencing our key stakeholders to adopt sustainable business practices, including best practice corporate governance. Sound corporate governance ultimately brings about greater transparency and trust in the Nigerian capital market and positions the market on a strong pedestal as a leading capital market in the region”.

Adebayo Opatade, Chief Finance Officer, NGX further corroborated Chiemeka’s comments saying, “NGX’s commitment to promoting best practices in corporate governance are not in question as it was enshrined in the Exchange’s Rulebook, which guides its operations and oversight of the capital market. We ensure our listed companies and trading license holders comply with these rules, ensuring market integrity and transparency.”

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Speaking about the launch of the Corporate Governance Triangle, Popoola expressed delight in the initiative, saying, NGX is delighted to collaborate with Institute of Directors Nigeria (“IoD Nigeria”) and Nigerian Bar Association-Section on Business Law (“NBA-SBL”) on the establishment of the Corporate Governance Triangle. We look forward to working closely with our colleagues in these highly-reputed organisations to formulate and implement initiatives that will further raise the bar on corporate governance standards and practice in Nigeria”.

The Corporate Governance Triangle was initiated to foster good corporate governance in Nigeria for members of the business law community, directors and managers of businesses, shareholders and other corporate stakeholders. As key stakeholders in the corporate world, the CCGC, NGX, and IOD are in a position to influence their members, share best practices and develop frameworks that will enhance corporate governance in Nigeria.