The Registrar-General of the Corporate Affairs Commission, Alhaji Bello Mahmud has called on stakeholders in the Nigerian economy to fully embrace the Code of Corporate Governance, to ensure great integrity and rapid business growth.
Alhaji Mahmud, who was speaking during a courtesy visit by the Chairman of the Institute of Directors (IoD), Mrs. Eniola Fadayomi said that an effective Code of Corporate Governance will create a conducive environment for business growth as well as improve overall interest of business objectives. He expressed the commitment of the Commission, as a partner in nation-building, adding that the Commission is institutionalizing an annual corporate citizen’s award to stimulate a solid foundation for enterprise and proper business ethics.
The corporate citizen’s award, he said, will promote the culture of good corporate governance in the Nigerian environment by recognizing corporate citizens who have conducted their affairs in compliance with statutory requirements and best practices of corporate governance.
The Registrar-General acceded to partner with the institute to encourage directors of companies attend its direction courses. The Chairman of the Institute had earlier solicited that the CAC ensure that attendance at IoD Company Direction Course is specified for all company directors as part of the criteria for registering a new company.
According to the Institute, IoD Company Direction Courses are globally recognized as effective toolkits for creating better boards and sustaining best practice in corporate governance.
Mrs. Fadayomi recalled that the working relationship between CAC and IoD Nigeria dates back to 2006 when the Commission partner with the Institute to establish the IoD Centre for corporate governance hence the need to deepen the partnership by providing Director Development and Corporate Governance training for directors and senior management.
She used the forum to intimate the Registrar-General of its forthcoming Annual Directors Conference and Exhibition slated for 23rd October, 2014 in Abuja with the theme: “Imperatives of Good Governance in Promoting Investment Opportunities” and IoD best of Nigeria gala night scheduled for London on the 4th of October, 2014.
The Chairman IoD Nigeria agreed with the Registrar-General that all stakeholders in the Nigerian economy need to fully embrace corporate governance with particular focus on responsibility, integrity, accountability, transparency, self-regulation and effective internal control systems.
The Council further congratulated the Registrar-General on his new status as a member of the Institute of Directors of Nigeria.