Yearly Archives: 2015
GTBank views corporate governance not as an end in itself but a vital facilitator to the creation of long- term value for its stakeholders. The Bank continues to emphasize a value-led culture, high behavioural standards and robust procedures as fundamental tools in the entrenchment of a strong corporate governance framework. “In building our corporate governance mantra, we continue to review the external factors that present risks and opportunities for our business in order to ensure our strategy is appropriate,” said Mr Agbaje.
Nigeria took a very important step when it launched its Corporate Governance Rating System (CGRS). The Nigeria Stock Exchange working in partnership with The Convention on Business Integrity achieved this feat. But how will the CGRS make a difference to Nigeria’s economy, its companies or investors?
Consider the following statistics: about 80 per cent of all businesses in the Middle East and North Africa (MENA) are family-owned or family-controlled, creating nearly 70 per cent of all jobs and generating about 80 per cent of the region’s Gross Domestic Product (GDP) outside the oil sector. Family firms dominate in other regions as well, accounting for nearly two-thirds of all businesses worldwide. The counterbalance to these impressive statistics is another figure: some 95 per cent of family businesses around the world do not survive the third generation of ownership.
The Information Governance Initiative (IGI), a newly formed think tank and consortium of industry solution providers defines information governance as “The activities and technologies that organisations employ to maximise the value of their information while minimising associated risks and costs”. In accord with this definition, there are many facets of information governance - and IG decidedly should not be considered simply to be a rebranding of records management in the era of Big Data.