Sound Corporate Governance Good for Capital Market Integrity—Popoola

By Aduragbemi Omiyale

The chief executive of the Nigerian Exchange (NGX) Limited, Mr Temi Popoola, has stressed the importance of sound corporate governance in upholding the integrity of the capital market.

Speaking at the launch of the Corporate Governance Triangle, an initiative of the Nigerian Bar Association Section on Business Law (NBA-SBL), Nigerian Exchange Limited and the Institute of Directors, Nigeria (IoD) on Tuesday, March 22, 2022, he said this creates transparency and establishes the trust required to keep the global financial system running.

He, therefore, asked stakeholders to work closely to ensure that both issuers and regulators pay special attention to corporate governance as it remains the engine room of the landscape.

The NGX chief, represented by Mr Jude Chiemeka, Divisional Head, Capital Markets at the bourse, stated that, “As a securities exchange, we recognize our unique role in fostering the growth of long-term sustainable capital by positively influencing our key stakeholders to adopt sustainable business practices, including best practice corporate governance.

“Sound corporate governance ultimately brings about greater transparency and trust in the Nigerian capital market and positions the market on a strong pedestal as a leading capital market in the region”.

Speaking about the launch of the Corporate Governance Triangle, Mr Popoola expressed delight in the initiative, saying, NGX is delighted to collaborate with the Institute of Directors Nigeria (IoD Nigeria) and NBA-SBL on the establishment of the Corporate Governance Triangle.

“We look forward to working closely with our colleagues in these highly-reputed organisations to formulate and implement initiatives that will further raise the bar on corporate governance standards and practice in Nigeria.”

The Corporate Governance Triangle was initiated to foster good corporate governance in Nigeria for members of the business law community, directors and managers of businesses, shareholders and other corporate stakeholders.

As key stakeholders in the corporate world, the CCGC, NGX, and IOD are in a position to influence their members, share best practices and develop frameworks that will enhance corporate governance in Nigeria.