Fidelity Bank has once again secured the highest rating of CG+ in the latest compliance report, with shareholders and market experts praising the bank for its exceptional corporate governance standards.
This prestigious CG+ rating signifies that Fidelity Bank Plc consistently upholds the highest levels of corporate governance, positioning itself as a leading commercial bank that adheres to full disclosure requirements and global best practices.
Under the Corporate Governance Rating System (CGRS), Fidelity Bank’s CG+ ranking stands as the highest, reflecting its commitment to prescribed best practices and standards.
Godstime Iwenekhai, Head of Listings Regulation Department at NGX Regulation (NGXRegco), emphasized that the CGRS aims to enhance the governance structures of listed companies and provide investors with a reliable basis for distinguishing between companies based on their adherence to acceptable corporate governance standards.
According to Iwenekhai, corporate governance plays a crucial role in promoting ethical business practices, transparency, and fair competition.
Companies with the special designation of “CG+” are entitled to certain privileges on the stock market, highlighting their compliance with best practices and highest corporate governance standards.
Compliance with corporate governance requirements at the stock market includes timely submission of detailed operational results, full disclosure of material information, accurate reporting, and safeguarding investor interests through effective communication and statutory meetings.
The Nigerian Exchange (NGX) emphasizes the importance of high disclosure standards for listed companies, with financial information and material event disclosures being key criteria for corporate governance ratings.
Market experts and shareholders agree that corporate governance compliance is a key factor in investment decisions and contributes to the safety of investments.
Investors have cited Fidelity Bank’s strong corporate governance as a compelling reason for choosing to invest in the bank, noting its impressive performance and commitment to good governance practices.
Fidelity Bank’s robust corporate governance structure, succession planning, and independent board oversight have instilled confidence in shareholders and reinforced the bank’s reputation for excellence.
Shareholder associations have lauded Fidelity Bank for its exemplary leadership, sustained growth, and commitment to good corporate governance, highlighting the bank as a preferred investment choice for its strong assets and customer service.
The NGX holds defaulting companies accountable for poor corporate governance through various sanctions, including fines, trading suspension, naming and shaming, and delisting in extreme cases.
Fidelity Bank’s continued adherence to high corporate governance standards underscores its commitment to transparency, accountability, and investor confidence, positioning it as a standout performer in the market.
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