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ARTICLE · 03 NOVEMBER 2016

FRC Issues National Code Of Corporate Governance

Deloitte Nigeria
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The Codes are aimed at enhancing management credibility, preserving long-term investments, improving access to new capital and lowering cost of capital.

NigeriaCorporate/Commercial Law
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FRC Code of Governance

The Financial Reporting Council of Nigeria (FRC) has issued National Codes of Corporate Governance (the Code) for the private sector, public sector and not-for-profit organisations in Nigeria. The Code, which is effective from 17 October 2016, was issued by FRC following a Federal High Court ruling that FRC has the powers to issue the Codes.

The Codes are aimed at enhancing management credibility, preserving long-term investments, improving access to new capital and lowering cost of capital. The Codes will also help to drive increased transparency and accountability in financial reporting through enhanced disclosures in financial statements thereby supporting investment decisions and shareholders' value.

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