cgrsng February 27, 2018 No Comments

The Convention on Business Integrity (CBI) and the Nigerian Stock Exchange (NSE) Honour Companies and Directors for Passing Corporate Governance Rating Assessment

  • 437 individuals and 35 companies honoured
  • Launches Corporate Governance Index

Lagos, February 22, 2018. The Convention on Business Integrity (CBi) and The Nigerian Stock Exchange (NSE or Exchange) held a certification ceremony for 35 companies and 437 directors that made it over the 70% threshold for the Corporate Governance Rating System (CGRS) process. The companies were awarded the CGRS certification while the directors were awarded certificates for success in the Fiduciary Awareness Certification Test (FACT), which is a key component of the CGRS. Read more

CGRS Ratings Result Press Release

33 Companies, 435 Directors pass CGRS Rating

LAGOS, 22nd January 2018. The Steering Board of the Corporate Governance Rating System (CGRS) is pleased to announce that 25 companies have successfully passed its rating test having scored the required pass mark of 70% whilst there are 87 others are at various stages of completion of the process.  These 25 successful companies join 8 companies that retained their rating from the CGRS pilot in 2014, bringing the total number of companies rated as of today to 33.  The board also congratulates the 435 directors who have passed their certification test. Presentation of awards and certificates to Chairs of companies and directors being celebrated will hold in February 2018 (event details to be announced later). Read more

cgrsng December 10, 2014 No Comments

NSE and CBi launch Nigeria’s Corporate Governance Rating System (CGRS)

A speaker at the launch of the corporate governance rating system by the Convention on Business Integrity and the Nigerian Stock Exchange on November 3 at Intercontinental Hotel, Lagos.

In a well-attended event with over 500 people, the Convention on Business Integrity and the Nigerian Stock Exchange launched the corporate governance rating system. (CGRS) on November 3 at Intercontinental Hotel, Lagos. At the event, CGRS, Nigeria’s flagship rating system was introduced to various market players including domestic and international investors, listed companies, international organizations and the general public. Read more

Corporate Governance in Nigeria is Evolving

By Soji Apampa, Co-founder of The Convention on Business Integrity – Nigeria

In a speech chronicling what went wrong in the Nigerian banking industry in 2009, former governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi said that “Governance malpractice within banks, unchecked at consolidation, became a way of life in large parts of the sector, enriching a few at the expense of many depositors and investors. Corporate governance in many banks failed because boards ignored these practices …” Have Nigerian companies ceased the practice of selecting board members mainly on political considerations such as an ability to influence government policy in favour of the company? Is Corporate Governance in Nigeria now ensuring true board effectiveness and independence? Have board selection criteria and system for board performance evaluation improved? Read more

Is there a Right Corporate Governance Framework for Nigeria?

In developing an appropriate corporate governance framework, should Nigeria copy international paradigms that may or may not fit our context? Should we borrow wholesale the rules-based or principles-based approaches to corporate governance or would we be better off developing our own unique response based on lessons from these international approaches? Read more

Are our Corporate Governance Standards High Enough?

By Soji Apampa

Corporate governance is at the heart of how businesses are run. According to the Organization for Economic Cooperative Development (OECD), “corporate governance involves a set of relationships between a company’s management, its boards, its shareholders and other stakeholders”.

Corporate governance, broadly speaking, includes board efficiency, transparency, reporting requirements, investor communications and sustainability. Read more