21 Oct Corporate Governance Guidelines to start on January 1
The Securities and Exchange Commission (SEC) says it is set to implement the ‘SEC Corporate Governance Guideline’s (SCGG) and revised reporting template for public companies from January 1, 2021,
It says compliance with the SCGG/revised reporting template is mandatory.
The Financial Reporting Council of Nigeria had issued the NCCG in 2018, which replaces all existing sectoral codes of corporate governance in the country, and is applicable to all sectors of the economy.
However, given the peculiarity of the capital market, the Commission issued additional recommended practices largely obtained from the 2011 SEC Code of Corporate Governance for Public Companies in Nigeria, as guidelines.