Nigerian Stock Exchange to Establish Corporate Rating for Listed Companies
The Nigerian Stock Exchange, NSE, on Monday announced plans to establish a Corporate Governance Rating System, CGRS, for listed companies.
The NSE said in a statement made available in Lagos, that the objective of the system was to raise corporate governance standards nationwide and encourage companies to do business in sustainable manner.
The statement also said that the NSE and Convention on Business Integrity, CBi, would host companies quoted in the stock exchange on corporate governance to breakfast meeting on January 29 in which a session for senior executives of the listed companies across sectors would focus on the importance of corporate governance in ensuring healthy investment environment.
The statement quoted NSE Executive Director of Business Development, Haruna Jalo-Waziri, as saying that the programme would encourage companies to do business in sustainable manner. It said that the partnership with the CBi was to create a corporate governance rating system and index for companies that met certain criteria.
“The objectives are to raise overall corporate governance standards in the country by providing companies with an incentive to develop global best practices. It will provide opportunities for companies to differentiate themselves in the market place.”
The statement also quoted the Executive Director of CBi, Soji Apampa, as saying that the CGRS would be inaugurated in 2014. The inauguration, it said, would provide information on the methodology, implementation, overall strategy and benefits of the system.
