Aug 16, 2019

A Future Fit Legal & Regulatory Framework For Corporations In Nigeria

Corporate Governance is essential if we would like to see our industries and companies grow in Nigeria. The advantage of this is that it will promote public awareness of essential corporate values and ethical practices that will enhance the integrity of the business environment. Companies essentially must demonstrate a commitment to good governance practices by increasing transparency, trust and integrity. Also to creat an environment for sustainable business operations. 

Most definitely, this would result in building public trust and confidence in the Nigerian economy, thus facilitating increased trade and investment.

Companies that are run efficiently and responsibly run will perform very well and ultimately contribute to strengthening the economy. The forms of companies that had good corporate governance are all encompassing including public, private and non – profit organization we must however note that corporate governance is not just about how a company is directed and controlled but also about how to maximize performance and ensure accountability to stake holders.

Corporate governance is  increasingly becoming a very significant aspect of business and organizational management, extending to international politics and trade Laws.

Major elements of corporate governance include

1.     Good board practices.

2.     Controlled environment

3.     Transparent disclosure

4.     Defined stakeholders rights

5.     Accountability

6.     Fairness

7.     Independence

During the NBA – AGC, many Lawyers will come together to discuss this topic and how to chat a course going forward.

It would be great for Lawyers at the AGC to join the session and understand their rules.