FINANCIAL REPORTING COUNCIL RELEASES DRAFT NATIONAL CODE OF CORPORATE GOVERNANCE

Pursuant to its statutory responsibility to develop principles and practices of corporate governance, the steering committee constituted by the Federal Government of Nigeria to develop a National Code of Corporate Governance (NCCG) for the country has finalised work on the draft document. The draft code was on the 15th of April 2015 published for comments from stakeholders for 30 days.

The Executive Secretary/Chief Executive Officer, Financial Reporting Council (FRC), Mr. Jim Obazee, disclosed to journalists in Lagos that the deadline for receiving comments on the draft NCCG is May 14th 2015, while a public hearing on the subject would be held on May 19th. The FRC Scribe pointed out that the federal government is aware that the issuance of a national code of corporate governance is a very important deliverable that can be used to enhance the country’s national competitiveness and socio-economic issues including corruption and lack of corporate independence.

Milton and Cross will examine the NCCG to determine whether it meets global best standards in Corporate Governance as well as analyzing the extent of its applicability to Nigeria’s unique business environment.

You may download the codes by following the links below:

Private Sector Code: https://www.drive.google.com/file/d/0BxB1-bqcIt35cXpIdnVhQVRoS1U/view?pli=1

Public Sector Code:https://www.drive.google.com/file/d/0BxB1-bqcIt35bDQxWV9zelFLRFU/view?pli=1

Non Profit Organisation Code: https://www.drive.google.com/file/d/0BxB1 bqcIt35R2dvc09QWXZscTQ/view?pli=1

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