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SEC Corporate Governance Scorecard Now Applies to All Public Companies in Nigeria, NASD Inclusive

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Friday, April 06, 2018  03:15 PM   /  News 


News emanating from a reliable source suggests that the Securities and Exchange Commission’s (SEC) Corporate Governance (CG) Scorecard now applies to all public companies in Nigeria, including companies admitted on the NASD OTC Exchange. 

The application of the CG scorecard on all companies in Nigeria is a welcome development as it will improve the level of compliance of companies admitted on the NASD OTC Exchange in relation to the filing of financial statements while the improvement in compliance status is expected to further bring about more transparency to the OTC market among other specified areas in the CG Scorecard. 

Just like quoted companies on NSE, the admitted companies on NASD OTC are expected to file their quarterly results one month after the end of a quarter and three months after the end of a financial calendar year for audited results. 

The SEC and the International Finance Corporation (IFC) dedicated itself to the completion of the Corporate Governance Scorecard in order to improve corporate governance practices in the market. 

Proshare Nigeria Pvt. Ltd.

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