The Nigerian Stock Exchange (NSE), in partnership with the Convention on Business Integrity (CBi) has established a Corporate Governance Rating System for listed companies to strengthen the corporate regulatory and supervisory capacity in Nigeria, and provide solid information for investors and consumers to differentiate between companies on the basis of their compliance and integrity with minimum acceptable standards of Corporate Governance.
The Corporate Governance Rating System for listed companies in Nigeria will achieve the following objectives
- Elevate existing corporate governance and corporate integrity practices in Nigeria, thus improving the overall perception and trust in the Nigerian capital market and business practices.
- Bring both integrity and transparency into the listed companies through the rating and ranking of the most compliant companies.
- Provide companies with an incentive to develop better governance practices.
- Provide an opportunity for companies to differentiate themselves in the marketplace.
- The ratings will form part of the criteria for being listed on a new Premium Board in 2014 and a new Corporate Governance Index to rank all listed companies that will be published by NSE in 2015.