Nigeria: NSE Decries Non-Compliance With Corporate Governance By Oil Companies

27 March 2007

Lagos — THE Nigerian Stock Exchange (NSE) has criticized oil companies operating in Nigeria for failure to comply with tenets of good corporate governance.

Speaking at a one day workshop on Code of corporate governance in Lagos last week, Director-General of the NSE, Dr. (Mrs) Ndi Okereke Onyiuke said: "Oil companies are the most defaulting entities with regard to corporate governance. The oil sector is not properly and effectively controlled. The Department of Petroleum Resources (DPR) is not policing oil companies effectively. For the financial sector, it is the most regulated."

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