Corporate Governance Rating System (CGRS)

The Convention on Business Integrity (CBi), in partnership with the Nigerian Stock Exchange (NSE) has established a Corporate Governance Rating System (CGRS) for listed companies in Nigeria. Membership is open to companies listed on the NSE. The current membership base spans:

  • Financial institutions
  • Multinational companies operating in Nigeria
  • Local companies and business associations

The CGRS works towards the following objectives:

  • Elevate existing corporate governance and corporate integrity practices in Nigeria, thus improving the overall perception and trust in the Nigerian capital market and business practices.
  • Bring both integrity and transparency into the listed companies through the rating and ranking of the most compliant companies.
  • Provide companies with an incentive to develop better governance practices.
  • Provide an opportunity for companies to differentiate themselves in the marketplace.
  • The ratings form part of the criteria for being listed on a Premium Board and Corporate Governance Index.

It scores companies on their compliance with various governance indicators from local and international standards organised along the following themes:

  1. Business Ethics & Anti-Corruption
  2. Transparency & Disclosure
  3. Stakeholder & Shareholder Rights
  4. Board Structure & Responsibilities
  5. Internal & External Audit & Control
Cross Sector
Convention on Business Integrity

Last updated: 12.09.2020

This information is gathered from open-source data and in some cases has been provided by initiative facilitators. We cannot guarantee the accuracy or completeness of the information and do not take responsibility for decisions made on the basis of it. Please inform us of any errors by emailing us at the contact details on the main database page.