{"id":20650,"date":"2018-01-19T15:32:12","date_gmt":"2018-01-19T14:32:12","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=20650"},"modified":"2018-01-19T15:32:12","modified_gmt":"2018-01-19T14:32:12","slug":"frcn-inaugurates-committee-review-national-code-corporate-governance","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/frcn-inaugurates-committee-review-national-code-corporate-governance\/","title":{"rendered":"FRCN Inaugurates Committee To Review National Code of Corporate Governance"},"content":{"rendered":"

The Financial Reporting Council of Nigeria (FRC) has inaugurated a Technical Committee to review the suspended National Code of Corporate Governance (NCCG). The committee, which was inaugurated Thursday by the Chairman, Governing Board of the FRC, Mr. Adedotun Sulaiman has Muhammad K. Ahmad as its chairman.<\/p>\n

A NCCG was issued by the FRC on October 17th, 2016, but was suspended by the federal government on October 28, 2016, following controversies surrounding some sections of the code. Speaking at the event, the Executive Secretary\/CEO, Mr. Daniel Asapokhai, said members of the committee were chosen based on their expertise and not merely as nominees. According to him, the diversity of the membership of the committee reflects the FRC\u2019s commitment to working with all stakeholders on the journey to a new national code of corporate governance.<\/p>\n

He thanked financial institutions that have pledged support for the work of the committee. Also, Sulaiman noted that the high standards of corporate governance and financial reporting practices which the FRC was set up by law to promote are geared towards encouraging and increasing trade and investments.<\/p>\n

\u201cToday\u2019s inauguration of this technical committee therefore marks the beginning of a very collaborative and consultative process for the review and re-introduction of the much-anticipated NCCG,\u201d he said. Continuing, the FRC board chair urged the committee to ensure that an exposure draft of the code was ready for release within the first quarter of this year.<\/p>\n

Ahmad, the committee chairman is a seasoned public sector executive with over 35 years of distinguished experience. He served as the pioneer Director-General and Chief Executive Officer of the National Pension Commission (PenCom) and oversaw the growth of the pension industry in Nigeria from ground zero to an asset base of N4.7trillion under management.<\/p>

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The objectives of the committee are to: review the suspended National Codes of Corporate Governance, taking into cognisance the extensive public commentary received on the suspended Codes; develop\/recommend the revised Code(s); and carry out all such activities as are necessary to give effect to the foregoing objectives. Other members of the committee are Bennedikter China Molokwu, a fellow and past president of the Institute of Directors (IoD); Sirajuddin Kofo Abdusalam-Alada, deputy director, legal, Central Bank of Nigeria (CBN); Fabian Ajogwu, a Senior Advocate of Nigeria and Lagos Business School professor of Corporate Governance; Garba Abubakar, director, compliance and special adviser to the registrar general, Corporate Affairs Commission (CAC); and Tomi Adepoju, a partner with KPMG Nigeria and head of governance, risk and compliance services.<\/p>\n

The committee members also include: Tijjani Borodo, a legal practitioner; Godstime Iwenekhai, head, listings regulation department, Nigerian Stock Exchange (NSE); Abdulrahman Mohammad Saleem, assistant general manager at the National Pension Commission (PenCom); Tola Omotola, executive director, Guaranty Trust Bank Plc; Nat Ofo, a professor of the department of Business Law, College of Law, Igbinedion University ,Okada; and Chris Ogbechie, professor of strategic management at Lagos Business School (LBS) where he teaches strategy, sustainability and corporate governance.<\/p>\n

Other are: Tarfar Makyur, Financial Standards and Corporate Governance, Securities and Exchange Commission (SEC); Uto Ukpana, Company Secretary, MTN Nigeria Communications Limited; Nicholas Okpara, former director, supervision, National Insurance Commission (NAICOM); Tinuade Awe, Executive Director, Regulation, Nigerian Stock Exchange and chairman, FRC board committee on corporate governance; and Nelson M. Anumaka, deputy director, corporate governance, FRC.<\/p>\n

Photo Caption: FRCN LOGO<\/em><\/strong><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Reporting Council of Nigeria (FRC) has inaugurated a Technical Committee to review the suspended National Code of Corporate Governance (NCCG). The committee, which was inaugurated Thursday by the Chairman, Governing Board of the FRC, Mr. Adedotun Sulaiman has Muhammad K. Ahmad as its chairman. A NCCG was issued by the FRC on October …<\/p>\n","protected":false},"author":6,"featured_media":20651,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[1449],"coauthors":[2391],"class_list":["post-20650","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-frcn"],"yoast_head":"\nFRCN Inaugurates Committee To Review National Code of Corporate Governance - National Wire<\/title>\n<meta name=\"description\" content=\"The Financial Reporting Council of Nigeria (FRC) has inaugurated a Technical Committee to review the suspended National Code of Corporate Governance (NCCG).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/frcn-inaugurates-committee-review-national-code-corporate-governance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRCN Inaugurates Committee To Review National Code of Corporate Governance - 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