Corporate governance on the agenda in Nigeria

The improvement of corporate governance standards will help to remove threats to economic growth in Nigeria, a professional body has claimed.

Moses Adeisa, president of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), set out his views on governance at the organisation's recent annual general meeting in Lagos, the Punch newspaper reports.

He stressed the need for both political and corporate entities to practice good governance as Nigeria attempts to build for the future.

"Non-adherence to corporate governance is partly responsible for the collapse of some industries in Nigeria," Mr Adeisa said.

"There is the need for everybody, be it in government or corporate organisations, to adhere strictly to good governance."

Mr Adeisa's comments were made shortly after the announcement that his Nigerian branch is set to become independent from the ICSA's central headquarters in London.

Meanwhile, the Nigerian government announced the appointment of a committee to create a new code of corporate governance for capital market operators this week.