In 2008 the Nigerian Securities and Exchange Commission (SEC) reviewed the 2003 Code of Corporate Governance for Public Companies in Nigeria. A key addition to the revised code was the inclusion of sustainability disclosures to be made by companies. While the Code is limited to public companies, companies not covered are encouraged to apply its principles. The SEC is currently doing a second review of the revised code and has issued a draft for public comment.
Industry sectors covered by the instrument
Organizations covered by the instrument
1) Public Companies listed on the Nigerian Stock Exchange;
2) All companies seeking to raise funds from the capital market through securities issuance or listing; and
3) All other public companies.
Type of instrument
Code of conduct or guideline
Mandatory or voluntary
The geographical scope