The Financial Reporting Council of Nigeria (FRCN) says the final review of the National Code of Corporate Governance (NCCG) will help to boost investors’ confidence in the economy.
It said the review of the code would also boost trade and investment in the country.
Chairman of the board of the governing council, Mr. Adetoun Sulaiman, expressed optimism in an interview with the News Agency of Nigeria (NAN), on the sidelines of the inauguration of the technical committee for NCCG in Lagos.
Sulaiman said the review of the NCCG would pave the way for a new code by the end of the year.
He said the committee, tasked with the responsibilities of reviewing reinsurance of NCCG and conducting a post-implementation review of IFRS adoption, would first focus on sectors and institutions.
Said he: “It is only logical, therefore, that we introduce and adopt rules and regulations that strengthen the operating environment, create a more enabling and supportive environment for investment.
“The environment also protects the interest of investors while promoting the ease of doing business in Nigeria and making the country a more attractive destination for industry, trade and investments.”
Sulaiman said the review of NCCG would also be in three phases of corporate governance, public sector and non-profit organisations.