Article Summary
- The exchange will continue to advance practical initiatives that will enhance diversity and inclusion in the private sector.
- World organisations need to scale up the culture of composing well-diverse boards which are best practices in corporate governance.
- Companies benefit from the diversity of ideas and opinions expressed when men and women both occupy positions on the boards and management of companies.
Nigerian Exchange Limited (NGX) has said that compliance with corporate governance standards helps to increase investors’ confidence in issuers and improves their access to a broader pool of domestic, regional, and international investors.
The Chief Executive Officer, of NGX, Temi Popoola stated this at the first edition of the Annual Corporate Governance Colloquium organised by NGX, Nigerian Bar Association Section on Business Law (NBA-SBL), and Institute of Directors (IoD) in Lagos on Thursday.
Diversity and inclusion
Speaking at the colloquium themed “Diversity and Inclusion: Adopting a Multi-Stakeholder approach in the promotion of good governance”, Popoola who was represented by the Divisional Head, Business Support Services and General Counsel, NGX, Irene Robinson-Ayanwale, stated that the NGX will continue to enhance diversity and inclusion in the private sector and leverage partnerships via strategic initiatives.
- “NGX recognizes that compliance to corporate governance standards helps to increase investors’ confidence in issuers and improves their access to a broader pool of domestic, regional, and international investors,” he said.
Popoola assured stakeholders that the exchange will continue to advance practical initiatives that will enhance diversity and inclusion in the private sector, leveraging partnerships like the Corporate Governance Triangle and the Nigeria2Equal Project with IFC.
Also speaking, the President IoD, Dr. Mrs. Ije Jidenma represented by Alhaji Tijani Borodo, the First Vice-President IoD on his part said, that the world organisations need to scale up the culture of composing well diverse boards which are best practices in corporate governance.
- “Findings have shown that diverse and inclusive boards stand a better chance of reaping from the rich and innovative ideas of members, making more effective decisions, and providing better guidance and direction that guarantees financial prosperity.”, Jidenna said.
Chairman of Council, NBA-SBL, Dr Adeoye Adefulu, also noted that companies benefit from the diversity of ideas and opinions expressed when men and women both occupy positions on the boards and management of companies.
While delivering a keynote address earlier at the event, the Chairman, of Ecobank and Chairman Board of Trustees of the Lagos State Employment Trust Fund (LSETF), Bola Adesola, said that with diversity on boards in age, background, and experience, organisations can bring a broader range of perspectives to decision-making processes.
According to her, diverse boards are more likely to challenge grouphink, as well as consider different viewpoints and make better-informed decisions.