L
LequteMan
Guest
The Federal Government of Nigeria has unfolded plans to roll out a national code of corporate governance, aimed at unifying the various industry codes issued by different regulatory authorities in the country by the first quarter of 2015, THE GUARDIAN reports.
According to the Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria, FRC, Jim Obazee, the new code would help to improve the standard of business operations in Nigeria and attract the needed foreign direct investment into the country, if properly implemented.
“We have already commenced the test running of the new code. The existing codes of corporate governance are only persuasive in nature and to a large extent accounted for the impediments to sound and good corporate governance in Nigeria.
He added that increased government regulations would also ensure stability of financial system in order to mitigate corporate failures as witnessed in the past.
#Nigeria
According to the Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria, FRC, Jim Obazee, the new code would help to improve the standard of business operations in Nigeria and attract the needed foreign direct investment into the country, if properly implemented.
“We have already commenced the test running of the new code. The existing codes of corporate governance are only persuasive in nature and to a large extent accounted for the impediments to sound and good corporate governance in Nigeria.
He added that increased government regulations would also ensure stability of financial system in order to mitigate corporate failures as witnessed in the past.
#Nigeria
