• Wednesday, May 22, 2024
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BusinessDay

Stock exchange moves to establish corporate governance index for listed companies

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The Nigerian Stock Exchange (NSE) has taken steps which will lead to the establishment of a Corporate Governance Index for listed companies in Nigeria.

Already, the NSE has entered a partnership with the Convention on Business Integrity (CBi) to provide a steady flow of robust data that will be used to develop a Corporate Governance Ranking System for listed companies in Nigeria. Established in 1997, CBi strives to empower people, their transactions, systems and institutions against corruption.

Speaking on this development, Oscar Onyema, chief executive officer of the NSE, noted that the NSE has placed corporate governance on the front burner as one of the critical fundamentals for ensuring a sound investment environment and maximising investor returns.

He further said that the creation of the Corporate Governance Index is in line with the NSE’s commitment to promoting firm and fair corporate governance regime for sustainable growth of the nation’s capital market. “We are proud to partner with CBi, and confident that this will contribute to our goal of becoming the gateway to African markets”, he said.

IHEANYI NWACHUKWU