Nigeria’s Code Of Governance: Keynote Address By Yemi Osinbajo

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Wednesday, 27 March 2019   / 03:04PM / By Yemi Osinbajo

 

KEYNOTE ADDRESS BY THE VICE PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, HIS EXCELLENCY, PROFESSOR YEMI OSINBAJO (SAN, GCON) ON THE OCCASION OF THE UNVEILING OF NIGERIAN CODE OF CORPORATE GOVERNANCE 2018 AT TRANSCORP HILTON HOTEL, ABUJA ON TUESDAY, JANUARY 15, 2019


Download Here The FRCN Nigerian Code of Corporate Governance 2018 Report


PROTOCOLS

 

It gives me immense pleasure to be here with you today for the unveiling of Nigerian Code of Corporate Governance 2018. And in fact, I had looked forward to this event since November of last year, when unfortunately, the prior scheduled date of November 20, 2018 became untenable as it coincided with a subsequently declared public holiday. But gladly, here we are today for an event that underscores the importance government attaches to ensuring the sustainability of businesses operating in Nigeria and that also aligns us with our signature ease-of-doing-business agenda.

 

Let me start by thanking the Honourable Minister of Industry, Trade and Investment, and the Chairman and members of the Governing Board of the Financial Reporting Council, and other stakeholders that have contributed towards the development of the Code we are about to unveil today.

 

I should also thank the many captains of industry, heads of regulatory agencies, our development partners and others that have taken the time to come and witness this occasion. Many of you are well familiar with the journey that has culminated in today’s ceremony and I am indeed pleased that we now have a widely accepted National Code of Corporate Governance 2018 ready for issuance.

 

The Code has been long awaited and it is my hope that it will play a unique role in enthroning higher standards of corporate governance and ethical practices in our business environment, helping to rebuild public trust and investor confidence in the Nigerian economy.

 

The implementation of Nigerian Code of Corporate Governance 2018 is worthwhile and will promote corporate success and economic growth, lower cost of capital and help to minimise wastage, corruption, and mismanagement.

 

I therefore encourage companies, Regulators and the Media here present, to be “publicity agents” in spreading the news of the release of the Code and the imperatives of its implementation.

 

To our business leaders here gathered, let me reiterate that the Government very much looks forward to your enthusiastic implementation of the Code, and to your being good corporate role models in this regard. I trust you will find that the principle-based approach and other constructs in the Code helpful and consistent with our focus on ease-of-doing-business.

 

With today’s event, Nigeria is taking a big stride in our efforts to be a preferred investment destination.

 

I congratulate the Financial Reporting Council of Nigeria for this development which will go a long way in sanitising the business environment. The unveiling of Nigerian Code of Corporate Governance 2018 today amounts to unleashing internationally accepted best practice standards for business conduct in Nigeria, the benefits of which will be enjoyed by investors, the entities applying the Code and the national economy.

 

Finally, as we promote and imbibe best practices in corporate governance, I am hopeful that given the constant flow of talents from the corporate world to the political space and vis-versa, we will also be promoting and demonstrating higher standards of governance practices in the political space over time.

 

Thank you all for your attention.

 

Ladies and Gentlemen, I do not wish to further delay you in getting copies of the Code in your hands. So, with great pleasure, I hereby unveil and present to you, Nigerian Code of Corporate Governance 2018.

 

 

PROFESSOR YEMI OSINBAJO SAN, GCON

January 15, 2019


Download Here The FRCN Nigerian Code of Corporate Governance 2018 Report


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