Continental Reinsurance Plc has been recognised as one of the listed companies on the Nigerian Stock Exchange for attaining high ranking in the Corporate Governance Rating System.
The company received the award during the CGRS certification ceremony held in Lagos.
Six of its directors were also recognised for passing the Fiduciary Awareness Certification Test during the event.
The directors are Dr. Olufemi Oyetunji, Ahlam Bennani, Paul Kokoricha, Foluso Laguda, Lawrence Nazare, Merrick Oeschger, David Sobanjo and Ian Tofield.
The Chief Executive Officer, NSE, Oscar Onyema, congratulated the recipients on the awards.
He said that their success was a testament that they were promoting the CGRS and that good corporate governance would improve their profitability.
The Co-Founder and Chief Executive, the Convention on Business Integrity, Soji Apampa, said the organisation was honouring companies and individual directors that distinguished themselves despite the particularly difficult business environment and demonstration of their preparedness to do the right things and do things right.
He said, “This is worthy of celebration because for decades, those who habitually did the wrong things and did things wrong seemed to have got away with it and even prospered than those who had been right, who refused to join them and risked appearing uncompetitive or joined them and risked damaging your business in the long run.
“The CGRS certification is based on standards set by the Companies and Allied Matters Act, the Code of Corporate Governance by the Security and Exchange Commission, and the Corporate Affairs Commission, regulation of the Nigerian Stock Exchange, anti-corruption principles of the United Nations Global Compact,” he added.
Apampa also said that the CGRS enhanced regulatory efforts of government and self-regulatory ambition of businesses.
Continental Reinsurance is a composite reinsurer, writing business in more than 50 countries across the African continent, according to the firm.
Established in 1985, and listed on the NSE in 2007, Continental Reinsurance provides support to over 200 insurance companies in Africa with its main offices in Nigeria, Cameroon, Kenya, Côte d’Ivoire, Tunisia and Botswana.
It also has a specialist subsidiary – Continental Property and Engineering Risk Services, registered in South Africa.
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