Abuja - The Nigerian Stock Exchange (NSE) said the introduction Corporate Governance Rating System (CGRS) would improve transparency in the bourse.
The system has been launched in conjunction with the Convention on Business Integrity (CBI).
"Companies are set to enjoy tangible business advantages from risk-oriented and/or ethically sensitive business partners and investors," Oscar Onyema, Chief Executive Officer of the NSE, said.
The stock exchange executive said competitors would be challenged to establish the same level of good governance by setting standards of excellence.
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"Companies would not only set themselves apart from their peers, but also contribute to improving the climate for doing business in Nigeria.”
According to NSE and CBI, the Germany-based HUMBOLDT-VIADRINA School of Governance reviewed and supported the establishment of Corporate Governance Rating System.
The system is said to be based on a multi-stakeholder approach.
It uses a diverse information collection and verification approach, which relies on experiences of stakeholders and experts.
- CAJ News