Pin It
Tuesday 18th December 2018,
Hope for Nigeria

Don tasks FG on power for FRCN to address impediments

The Federal Government has been urged to give the Financial Reporting Council of Nigeria (FRCN) more power to supervise all industry-based code of corporate governance, as well as, address impediments bedeviling the council.

A professor of Accounting, Professor Sunday Owolabi, who stated this, while delivering the 21st inaugural lecture of Babcock University, Ilishan-Remo, Ogun State, titled: ‘Corporate Governance And Performance: A Pathological Exposition Of Nigerian Firms,’ said more power would enable the council to supervise all industry-based code of corporate governance.

He also advocated composition of boards of directors’ leadership that would keep relevant stakeholders abreast of developments affecting their companies.

He noted that an efficient and effective performance of the board would depend on the integrity of processes, quality performance of board’s responsibility, clear legislation and regulations, independence of the board, strategy setting, code of conduct and communication, among other needs.

The don, who is a deputy Vice Chancellor, Management Services of the institution, frowned at the politicisation of board members’ appointment, which according to him, should rather be based on merit. He urged tertiary institutions in the country to introduce a course on corporate governance to make the training of future board leaders all-encompassing.

 

http://www.hopefornigeriaonline.com/nigeria-ghana-senegal-golfers-storm-benue-mark-70/

If you enjoyed this article FEEL Free to TIP Hope for Nigeria Online:


Any Amount Welcome 🙂


Paypal: Paypal.me/hopefornigeria


Do you have story and would like it to be published on Hope for Nigeria? or want to Place Adverts on the Website, If yes email us at moyo@hopefornigeriaonline.com

Sign Up to Get Regular News Articles & Updates
An Opportunity for Regular Information Straight to Your INBOX

Simply enter your full name and email address below

Like this Article? Share it!

Leave A Response