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Funding a business
Code of Corporate Governance
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[QUOTE="Yakub02, post: 307116, member: 94426"] Introduction The Financial Reporting Council of Nigeria (FRC) issued the Nigerian code of corporate governance in 2018, to harmonise the various sectoral codes of corporate governance which include: i. Code of corporate governance for the telecommunication industry 2016; ii. Code of corporate governance for banks and discount houses in Nigeria 2014; iii. Code of corporate governance for public companies in Nigeria 2011; iv. Code of good corporate governance for insurance industry in Nigeria 2009; and v. Code of corporate governance for licensed pension fund operators 2008. Principle of these codes deal with sustainability. This principle places emphasis on paying adequate attention to sustainability issues including environment, social, occupational and community health and safety ensures successful long term business performance and projects the company as a responsible corporate citizen contributing to economic development. (b) Recommended practices 26.1 The Board should establish policies and practices regarding its social, ethical, safety, working conditions, health and environmental responsibilities as well as policies addressing corruption. The policies should include the following: The company’s business principles, practices and efforts towards achieving sustainability; The management of safety issues including workplace accidents, fatalities, occupational and safety incidents; Plans and strategy for addressing and managing the impact of serious diseases on the Company’s employees and their families; [/QUOTE]
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