NGX, IoD to further improve corporate governance, capital market best practices

Nigerian Exchange Limited (NGX) will continue to work closely with the Institute of Directors (IoD) to further strengthen corporate governance compliance with the aim of continuing to uphold best practices in the capital markets.

NGX and IoD have long worked in tandem to advance best practices in corporate governance in the Nigerian capital market. In March 2022, NGX, IoD and the Business Law Section of the Nigerian Bar Association (NBA-SBL) joined to form the Corporate Governance Triangle which led to the creation of the Corporate Governance Charter. company which was officially released in August 2022.

Chief Executive Officer, NGX, Temi Popoola, ably represented by Division Head, Capital Markets, NGX, Jude Chiemeka during his remarks at the closing gong ceremony held in honor of IoD at the Exchange on Tuesday, October 18, 2022, highlighted NGX’s efforts in promoting compliance with global best practices in corporate governance by its listed companies, with its Premium Board of Directors being a notable example which has attracted substantial cash from investors.

He recognized the efforts of the IoD in the efficient functioning and development of the capital market and the wider private and public sectors, as he advocated for standardized corporate governance and best practices.

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He said: “While NGX prides itself on being at the forefront of excellence in governance, integrity and transparency in the Nigerian private sector, we recognize the efforts of IoD in its position towards promoting skills, developing corporate governance standards, protecting the integrity of management, championing and nurturing astute professionals who contribute to the success of businesses and public organizations as well as to the development of our country.

“We have had a long and synergistic relationship since pre-demutualization and we hope that will continue in goodwill. We look forward to more opportunities to collaborate with IoD to actualize our collective goals and objectives,” he added.

President/Board Chairman, IoD, Ije Jidenma commended NGX for appointing some of its members to positions on its Board of Directors, adding that the institute has been following with keen interest the “accelerating momentum of NGX to a for-profit entity owned by shareholders. “The role the stock market has played in the past, present and future. The institute and the exchange have an intersection in terms of corporate governance for the country to be better. We are confident that whatever goal the Exchange sets, it will achieve it,” Jidenma said calling for more collaboration between NGX and IoD.