The Nigerian Exchange (NGX) has awarded Fidelity Bank Plc the highest rating on corporate governance, CG+, under the Corporate Governance Rating System (CGRS).
This rating reflects the bank’s commitment to transparency, accountability, and ethical business practices.
Fidelity Bank’s CG+ rating is a testament to its adherence to global best practices and full disclosure requirements.
The bank’s high corporate standards have been commended by shareholders and market pundits, who recognize the importance of corporate governance in investment decisions.
The NGX’s CGRS is designed to strengthen governance structures and provide a valid basis for investors to differentiate between listed companies based on their compliance with acceptable standards of corporate governance.
The rating system promotes ethical business practices, transparency, and fair competition.
Corporate governance compliance at the NGX includes prompt submission of detailed operational results, full disclosures of material and regulated information, and accurate rendition of reports and accounts.
Companies must also ensure that their shares are not encumbered in a way that impinges on free float or number of shares available to the general investing public.
Market experts and shareholders agree that corporate governance compliance is crucial in deciding on investments and ensuring the safety of such investments.
Fidelity Bank’s high corporate governance rating has been cited as a compelling reason for investors to choose the bank.
The NGX applies various sanctions to defaulting companies, including fines, suspension of trading, and compulsory delisting.
Fidelity Bank’s CG+ rating demonstrates its commitment to avoiding such sanctions and maintaining market integrity.
Overall, Fidelity Bank’s CG+ rating is a testament to its dedication to corporate governance excellence.
The bank’s commitment to transparency, accountability, and ethical business practices has earned it a reputation as a leader in corporate governance.
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