COMPANIES & GOOD CORPORATE GOVERNACE PRACTICE
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- Create Date September 18, 2023
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1.0 INTRODUCTION
1.1 Corporate Governance Defined
The term Corporate Governance describes the process and structure used to direct and manage the affairs of a company towards promoting prosperity and accountability with the ultimate objective of realizing long-term shareholder value1 while considering the interest of other stakeholders.2 This definition is in line with that of the Organization for Economic Cooperative & Develop-ment (OECD) principles 3 which provides that Corporate Governance involves a set of relationships between a company’s management, its board, its shareholders, and other stakeholders to provide a structure through which the objectives of the company are set and the means of attaining those objectives and monitoring performance are determined.4