Nigerian Exchange Limited has entered into partnership with the Centre for International Private Enterprise (CIPE) to provide effective resources to help local companies translate their corporate ethics commitments.
According to the NGX, the partnership is through its specialised learning hub, X-Academy.
CIPE is one of the four core institutes of the National Endowment for Democracy and a non-profit affiliate of the U.S. Chamber of Commerce founded in 1983 in Washington DC, United States.
It strengthens democracy around the globe through private enterprise and market-oriented reform.
institutions vital to a democratic society and such is expected at the NGX.
CIPE’s key program areas include anti-corruption, advocacy, business associations, corporate governance, democratic governance, access to information, the informal sector and property rights, women and youth.
Its partnership with NGX is expected to fill the capacity gap in corporate compliance expertise and knowledge in the African business environment and to provide corporate bodies with a robust system of compliance that ensures that they can conduct business with integrity.
X-Academy will work with CIPE to provide companies of all sizes across Nigeria with practical solutions that will promote ethical business practices and make the Nigerian corporate landscape safer for conducting business. Through workshops and advisory services, participating companies in the program will be empowered to proactively reduce opportunities for fraud and other malpractice across their business processes.
Speaking about the collaboration, Ugochi Obi, Head, NGX X-Academy, said, “As a training hub contributing immensely to deepening knowledge across the capital and money markets in Nigeria, we consider it imperative to avail businesses and organisations with the appropriate training and tools that will help them attain globally acceptable transparency and accountability standards, which will, in turn, help them to attract global investment opportunities. To this end, NGX has partnered with CIPE, an organisation that has the pedigree and demonstrable track record of helping its stakeholders to navigate the often complex terrain of regulatory compliance and entrench good governance practices in their key activities – two key elements to actualise our goal.”
On her part, Lola Adekanye, Senior Program Lead for Africa, CIPE, said, “We are thrilled to have a critical stakeholder in Nigeria’s business ecosystem join us to lay the foundation to create a more transparent and attractive business environment. Enabling compliance with sound business integrity practices is at the core of attracting investment and boosting growth in the country. CIPE is pleased to welcome NGX to the Africa Business Integrity Network (ABIN) and we look forward to leveraging our strengths to embed ethics and integrity in the business culture, and ultimately bring value to the Nigerian economy.”
This partnership will help galvanise business-led efforts to reduce the risk of corruption, boost shared prosperity in an economically sustainable manner and promote market-oriented values by advancing business ethics and integrity principles in companies and across the business environment. It will also enable the academy to deploy compliance and board evaluation consultancy for organisations.
