ABUJA – The Securities and Exchange Commission (SEC) has advised the Governing Board of the Performance, Earnings and Returns Leadership (PEARL) Awards Nigeria to include Good Corporate Governance in its award criteria.
This is contained in a statement in Abuja and signed by the Head of Public Relations of the commission, Mr Yakubu Oluleye.
It said the commission also assured of its readiness to collaborate with the PEARL Awards to encourage companies on high performance.
The statement noted that the Acting Director-General of SEC, Mounir Gwarzo, stated this when he received members of the board in Abuja.
It said that SEC decided to launch its corporate governance scorecard, to ensure that companies operating in Nigeria’s capital market did well.
It explained that the scorecard would ensure compliance of the companies, to translate into better returns and service delivery, among others.
“One issue that is very critical in this market is the issue of corporate governance.
“I appeal that in your selection process, emphasis be given to companies that are complying.
“SEC is the only regulator that has developed its corporate governance scorecard which has been approved by the board and we will lunch it very soon,” Gwarzo said in the statement.
It said the Acting Director-General also enjoined the team to look at issues of Corporate Social Responsibility (CSR) by quoted companies, which he said was vital for community knowledge.