Nigeria

Corporate Governance Rating System (CGRS)

Convention on Business Integrity (CBi)

Corporate Governance Rating System (CGRS)

Mission

Elevate corporate governance and corporate integrity practices in listed companies in Nigeria

Goals

The Corporate Governance Rating System (CGRS) for listed comanies in Nigeria aims to:

  • Elevate existing corporate governance and corporate integrity practices in Nigeria
  • Improve the overall perception and trust in the Nigerian capital market and business practices
  • Bring integrity and transparency into listed companies through rating and ranking the most compliant companies
  • Provide companies with an incentive to develop better governance practices
  • Provide an opportunity for companies to differentiate themselves in the marketplace

Stakeholders

CGRS was developed under the leadership of the Convention on Business Integrity (CBi), in partnership with the Nigerian Stock Exchange (NSE).

Membership is open to companies listed on the NSE. The current membership base spans: financial institutions, multinational companies operating in Nigeria, and local companies and business associations.

Activities

CGRS scores companies on their compliance with various governance indicators from local and international standards organised along the following themes:

  • Business Ethics & Anti-Corruption
  • Transparency & Disclosure
  • Stakeholder & Shareholder Rights
  • Board Structure & Responsibilities
  • Internal & External Audit & Control

The ratings form part of the criteria for being listed on a Premium Board and Corporate Governance Index.

This information is gathered from open-source data and in some cases has been provided by initiative facilitators. We cannot guarantee the accuracy or completeness of the information and do not take responsibility for decisions made on the basis of it. Please inform us of any errors by emailing us.

Start Year

Status

  • active
    The initiative or project is currently being worked on.

Countries Operations

Countries Host

Scope

  • national
    Initiative that operates in and focuses mainly on one country, whether on a national or sub-national level.

Industry

Stakeholders

  • Private sector
    Privately owned commercial (for-profit) entities of all sizes, including SMEs
  • Civil society
    non-governmental organisations (national or international), foundations funded by private entities, faith-based organisations, Professional associations, Industry associations, Chambers of Commerce, Local Global Compact Networks

Type

  • Standard-setting initiative
    Codes of conduct, Industry/country anti-corruption policies/compliance standards, Self-assessments tools and mechanisms/methodologies, Implementation tools

Linked resources

Related Initiatives

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