The managing director and chief executive officer of the Nigerian Aviation handling Company Plc (nahco aviance), Mr. Idris Yakubu, has hailed the certification of seven current and past board members of the company by the Corporate Governance Rating System (CGRS)
Speaking at the ceremony held in Lagos recently, Yakubu who described the certification as “highly remarkable” said it was a confirmation of the high corporate governance principles on which nahco aviance’ operations are based.
“The certification is a confirmation of the solid corporate governance principles imbedded in the company. This did not come to us as a surprise. NAHCO is one of the few publicly listed companies in the aviation sector whose processes, procedures, and practices remain a benchmark for the entire industry,” he added.
NAHCO’s current and former Directors who were awarded certificates on the night were the chairman, Arc.UsmanArabi Bello; directors Barrister Tijjani Ahmed Uwais and Ms. Hadiza Aliko-Mohammed.
The others were former managing director and chief executive officer, Mr. Kayode Oluwasegun-Ojo and directors, Gordon Gofwan, Ike Nwachukwu and AlhFaruk Umar.
Yakubu also commended the board for its strategic leadership.
“The company’s directors have done very well, and their strategic leadership inspires investors’ confidence in the company, and would guide the company to continue to deliver superior value to all its stakeholders,” he said.
He further said the company would not rest on its oars, but would use the achievement as a stepping to stone to achieve greater things.
The CGRS, a joint initiative between the Nigerian Stock Exchange (NSE) and the Convention on Business Integrity (CBi) was developed to rate the corporate governance and integrity practices of all companies listed on the NSE.
To be certified, the CGRS rates quoted companies through a three-segment process: independent verification, self-assessment by the company, certification of director awareness of their fiduciary duties and a corporate integrity assessment where perceptions of actual company behavior are sought from snternal and external stakeholders.
A score of 70 per cent and above for both the company and individual directors is required for certification.