Seven current and past members of the board of the Nigerian Aviation Handling Company Plc have been given the Corporate Governance Rating System certification.
The CGRS certification is a joint initiative of the Nigerian Stock Exchange and the Convention on Business Integrity, developed to rate the corporate governance and integrity practices of all companies listed on the NSE.
To be certified, the CGRS rates quoted companies through a three-segment process of independent verification; self-assessment by the company; certification of director awareness of their fiduciary duties; and a corporate integrity assessment where perceptions of actual company behaviour are sought from Internal and external stakeholders.
A score of 70 per cent for both the company and individual directors is reportedly required for certification.
The NAHCO’s Managing Director, Mr. Idris Yakubu, said the certification was remarkable, and a confirmation of the high corporate governance principles on which the operations of the company were based.
The company’s current and former directors awarded the certificate are the Chairman, Mr. Usman Bello; directors, Mr. Tijjani Uwais and Ms. Hadiza Aliko-Mohammed.
Others are the former managing director, Kayode Oluwasegun-Ojo; and directors, Gordon Gofwan, Ike Nwachukwu and Alhaji Faruk Umar.
Yakubu, who commended the corporate governance principles of the company, said the certification only confirmed what was already well known.
He said, “This did not come to us as a surprise. NAHCO is one of the few publicly listed companies in the aviation sector whose processes, procedures and practices remain a benchmark for the entire industry.”
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.