Uduk: SEC to Strengthen Public Companies’ Corporate Governance

Acting Director General of SEC, Ms. Mary Uduk d

Peter Uzoho

The acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk, has disclosed that the commission is working on a guideline to strengthen corporate governance of public companies in the country.

The SEC boss stated this yesterday in Lagos in her goodwill message at the 2020 annual symposium organised by the Issuers and Investors Alternative Dispute Resolution Initiative (IIADRI), with the theme: “Nigerian Tax Laws: Matters Arising.”

Uduk, who was represented at the event by the Deputy Director, SEC Lagos Zonal Office, Mrs. Hafsat Rufai, said: “In order to improve corporate governance, corporate bodies are enjoined to continuously comply with the Nigerian Code of Corporate Governance Scorecard. It is also worthy to note that SEC is working on a guideline to strengthen corporate governance of public companies.”

She added that the commission remained committed to creating an environment that would enable efficient capital formation and investor protection.

Speaking on the 2019 Finance Act Uduk said law has brought changes targeted “at promoting fiscal equity, reforming domestic tax laws to align with global best practices, introducing tax incentives for investments in infrastructure and capital markets, supporting micro, small and medium-sized businesses and raising revenues for the government.”

Earlier in his welcome address, the Chairman of IIADRI, Mr. Moses Igbrude, said the symposium was aimed to provide platform for stakeholders in the Nigerian tax value chain to dialogue and articulate ways of fostering mutual understanding between tax authorities and tax payers.

Igbrude added that the programme was also intended to engender good working relationship that would result in mutual benefits to all parties.

“We believe a co-operative approach in tax administration in this country will promote ease of doing business as well as enhance more robust economic growth and development in Nigeria,” he said.