At the 2024 National Corporate Governance Summit, organized by the Institute of Directors Centre for Corporate Governance (IODCCG) in collaboration with the Ministry of Finance Incorporated (MOFI) and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Mr. Temi Popoola, Group Managing Director and CEO of Nigerian Exchange Group (NGX Group), underscored the critical role of robust corporate governance in Nigeria's economic recovery efforts.
Delivering a presentation titled "National Economic Recovery: Good Governance to the Rescue," Mr. Popoola expounded on how strong governance structures are fundamental to economic stability and growth. He detailed NGX Group's initiatives aimed at enhancing transparency and accountability within Nigeria's private sector.
"Effective governance is the cornerstone of sustainable economic recovery," Mr. Popoola asserted. "It builds investor confidence, promotes capital importation, and ensures market integrity." He highlighted NGX Group's ongoing efforts to promote best practices in corporate governance through its subsidiaries, Nigerian Exchange Limited (NGX) and NGX Regulation Ltd (NGX RegCo), which are vital for attracting both domestic and foreign investments.
Under Mr. Popoola's stewardship, NGX Group continues to play a pivotal role in Nigeria's economic recovery, focusing on improving market infrastructure, ensuring transparency, leveraging technology, fostering stakeholder engagement, and enhancing overall political and economic governance. These efforts have been instrumental in supporting sustainable economic growth and development in Nigeria.
The summit convened key figures in Nigeria's financial and governance sectors, including Dr. Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC); Dr. Rabiu Olowo, Executive Secretary/CEO of Financial Reporting Council of Nigeria (FRCN); Dr. Shamsuddeen Usman, President and Chairman of Council, Chartered Institute of Directors; and Dr. Armstrong Takang, CEO of Ministry of Finance Incorporated. Their contributions underscored the necessity of sound governance for economic resilience.
Dr. Agama reaffirmed the SEC's commitment to maintaining rigorous regulatory oversight across financial institutions, calling for continued collaboration between regulatory bodies and market participants to uphold these standards. Dr. Olowo emphasized the importance of such summits in fostering dialogue and knowledge exchange, which are critical for advancing governance practices in Nigeria. Meanwhile, Dr. Takang highlighted the strategic role of governance in managing public assets and investments effectively, emphasizing its crucial role in economic recovery and growth.
The summit continues to serve as a vital platform for stakeholders to address challenges, share strategies, and build partnerships aimed at strengthening corporate governance in Nigeria, ultimately contributing to the nation's economic revitalization and sustainable development.
