The certification of seven current and past members of the Board of the Nigerian Aviation Handling Company Plc by the Corporate Governance Rating System (CGRS) has been described by the Company’s Managing Director/Chief Executive Officer, Mr. Idris Yakubu, as highly remarkable, “confirming the high corporate governance principles on which the operations of the Company are based”.
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 Nigerian Stock Exchange.
NAHCO’s current and former Directors who were awarded certificates on the night were the Chairman, Arc Usman Arabi Bello; Directors Barr. Tijjani Ahmed Uwais and Ms. Hadiza Aliko – Mohammed. Others were former MD/CEO, Kayode Oluwasegun – Ojo; and Directors, Gordon Gofwan, Ike Nwachukwu and Alh Faruk Umar.
Mr. Yakubu, who assumed leadership of NAHCO in November 2013, commended the solid corporate governance principles imbedded in the Company said the certification only confirmed what was already well known.
According to him, “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 commended the Board for its strategic leadership. In his words, “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”.
Mr Yakubu added that the Company would not rest on its oars, but would use this achievement as a stepping to stone to achieve greater things.
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 Internal and external stakeholders.
A score of 70 percent and above for both the company and individual directors is required for certification.