Centre for Corporate Governance

The bold strides were made by Securities & Exchnage Commission (SEC) in the incorporationof Corporate Governance into Nigerian business life. This initiative that commenced with the setting up of the Atedo Peterside Committee resulted in the publiceation of the Guidelies for Corporate Governance in Public Companies in 2003.

The next phase of influencing acceptance and implementation has been accepted by IoD Nigeria as its major challenge. The Cadbury Code of the United Kingdom was actively supported by IoD UK. Similar initiatives in weveral Commonwealth countries were either initiated or endorsed by the local IoD. In South Africa, the Institute of Directors initiated the King's Code of Corporate Governance now in its second edition folowing implementation experience.

At the IoD Nigeria, the Centre for Corporate Governance will be the umbrella organization for stakeholder action, public enlightenment, implementation and monitoring. The Centre's membership will include professional bodies, trade associations, market groupings, economic sector alliances, public sector representatives etc as well as individuals of high ethical standing.

IoD's experience includes some aspects of Corporate Governance e.g. presenting workshops and seminars as well as administering questionnaires as a basis for diagnostic review. Apart from the foregoing, IoD Nigeria flagship course on Director Development features Corporate Governance, Business Ethics and Best Practices.

The imperatives of the private sector as a key success factor in this revolution towards improving corporate structures and conduct in order to boost invest confidence, build integrity and sustainability in business is inalienable. This way, the implementation and monitoring of Corporate Governance in Nigeria is fully backed by the private sector.

The Centre for Corporate Governance will be the authority on Corporate Governance in Nigeria and roll out a Corporate Governance manual for nationwide Communication and acceptance by both the private and public sectors emphasizing the link between best practices and sustainable success.

"To be the premier organization in Nigeria advocating and facilitating the establishment and maintenance of an effective Corporate Governance environment ain the Federal Republic of Nigeria ".

The activities of the Centre amongst other includes the following:

- High quality research;

- Training, workshops, seminars, capacity building conferences;

- Publications;

- Public enlightenment campaigns including devising means of identifying companies who are focused on achieving and maintaining high corporate governance standards and ensuring that such companies are periodically accorded due recognition;

- Any other activities centered on establishing the Centre as the major point of contact for governments, business, policy makers, scholars (academia) and all other practitioners with an interest or stake in corporate governance issues;

- Propose draft manuals and codes of best practices for different sectors;

- Post completion activities like impact assessment, installation of compliance monitoring mechanisms and promoting legislation to support activities;

- Establishing critical alliances with regulatory and professional bodies, trade associations, public sector and building consensus.