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NSE committed to improving corporate governance – Onyema

By on October 19, 2014

The Chief Executive Officer, Nigerian Stock Exchange, Mr. Oscar Onyema, has said the Exchange is fully committed to furthering good corporate governance among listed companies.

Onyema was quoted in a statement by the Exchange as saying this at the World Investment Forum, which was organised by the United Nations Conference on Trade and Development and held in Geneva, Switzerland from Monday to Thursday.

According to the statement, one of the main events at the forum was the fourth ‘Global Dialogue on the Sustainable Stock Exchanges Initiative,’ which the NSE signed onto last year.

In his presentation at the sustainable stock exchanges global dialogue, held on Tuesday, Onyema explained that the Exchange was developing initiatives and frameworks aimed at placing governance on the same level as other parameters of corporate performance. He also said there was the need to intensify efforts to achieve development goals.

He said, “Listening to what other exchanges had to say about sustainability made it even clearer that we have to move at a swift pace if we are to meet and finance the Sustainable Development Goals that will be set in September 2015, otherwise we will be back in 2030 saying that little was accomplished.

“Each exchange finds that it must grapple with unique challenges and circumstances. No two jurisdictions are quite alike. The one-size-fits-all philosophy is not really applicable when exchanges and wider eco-system in which they operate, may be at different levels of development, however, setting minimum sustainability reporting standards.”

The statement explained that the 2014 global dialogue of the sustainable stock exchanges initiative brought together securities regulators, stock exchange executives, institutional investors, CEOs and ministers to identify ways to harness capital markets for sustainable development.

“The global dialogue, a roundtable gathering of high-level officials, showcases the many sustainability-related opportunities and challenges facing capital markets,” it added.

 

[Punch]