NIGERIAN CODE OF CORPORATE GOVERNANCE 2018: 

COMPLIANCE IN UNCERTAIN TIMES

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Nigerian Code of Corporate Governance (NCCG) 2018 seeks to promote adherence to global corporate governance best practice in Nigeria. The Financial Reporting Council of Nigeria (FRC) and Institute of Directors (IOD) have identified the need for companies that were significantly impacted by the Covid 19 pandemic and its aftermath to reinvent their Board of Directors and other corporate governance structures, in order to fully cope with the consequences of multidimensional impact of the pandemic and other crisis that may be imminent. In order to achieve this, companies and their Boards have to be ready for the changes that corporate governance best practice requires, despite competing scarce resource in these uncertain times.

 

FRC and IOD accordingly brings Directors, Senior Executives, and other aspiring corporate leaders this programme themed “Nigerian Code of Corporate Governance 2018: Compliance in Uncertain Times”. The Programme will assist the Board of Directors, Top Management, Company Secretaries, Chief Internal Auditors, and other C-Suite Executives  to appreciate the need to reinvent the Board by setting the right priorities during  crisis, appreciate the role of stakeholder activism, undertake board evolution through new injection of diverse talent, achieve greater team work and make effective and efficient use of experts within companies. Participants will critically review the practical implications of the Code in achieving the foregoing objectives and consider case studies. 

 

At the end of the programme, participants will have a deeper understanding and appreciation of the following:

 

Scope of the Programme 

THEME: BOARD PRIORITIES IN TIMES OF CRISIS

  • Introduction and Background: Reinventing the Board to meet NCCG 2018 Objectives

  • Synopsis of NCCG 2018 

    • Aims and Objectives of the Code

    • Philosophy and Application

  • Structure/highlights of the Code 

  • Key Benefits of the Code 

  • Monitoring and Enforcement Procedures.

  • The Strategic Role of the Board

  • Adding Value through Diversity 

  • Board and Corporate Governance Evaluations as tools for achieving effective Board.

 

Risk Management in Times of Crisis

  • Appreciating the Role of Risk Management 

    • Deep dive into NCCG 2018 Recommended Practices 17.1-17.8

    • Challenges and Strategies to implement effective Risk Management Framework and Practice

  • Appreciating the Role of Internal Audit 

    • Deep dive into NCCG 2018 Recommended Practices 18.1-18.7

    • Challenges and Strategies to implement effective Internal Audit Framework and Practice

  • Appreciating Technological Risks Today

    • Current developments in Information Technology Governance (NCCG Recommended Practice 1.10)

    • Current developments in Communication and Information Dissemination Policies (NCCG Recommended Practice 1.13)

    • Maintaining Synergy between Information Technology Governance and Information Dissemination Policies.

  • Deep dive into NCCG 2018 Recommended Practices 11.4.1 – 11.4.8

  • Improving Transparency and Quality of Audit Committees

The Role of Audit Committees in managing Cybersecurity issues.The Role of key Stakeholders in Corporate Governance drive and implementation during crisis

1. The Chairman 

2. Non-Executive Directors (NEDs)

3. Independent Non-Executive Directors (INEDs)

4. Shareholders and other stakeholders

5. MD/CEO

6. Executive Directors (EDs)

7. Company Secretaries 

8. Internal Auditors

9. External Auditors

10. Regulators 

 

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