Fidelity Bank: #1 in Good Governance!

Fidelity Bank Plc has achieved the highest corporate governance rating, CG+, at the Nigerian stock market, reflecting its strong adherence to best practices and standards.

The CG+ rating signifies that Fidelity Bank complies with the highest corporate governance standards, promptly meeting full disclosure requirements and global best practices.

A recent review of the bank’s compliance report reaffirmed its sustained CG+ rating, earning commendations from shareholders and market experts for maintaining high corporate governance standards.

Corporate governance compliance in the stock market includes timely submission of detailed operational results, full disclosure of all material and regulated information, and accurate reporting.

Mr. Godstime Iwenekhai, Head of Listings Regulation at NGX Regulation (NGXRegco), highlighted that the Corporate Governance Rating System (CGRS) is designed to enhance governance structures and serve as a benchmark for discerning investors.

He emphasized that CG+ status underscores compliance with best practices and entitles rated companies to special privileges in the market.

The NGX noted that the compliance tracker ensures market integrity and protects investors, requiring listed companies to adhere to stringent disclosure standards.

Market pundits and shareholders agree that corporate governance compliance is pivotal in investment decisions and serves as a safety reference for investments.

Managing Director of Arthur Steven Asset Management, Mr. Olatunde Amolegbe, stressed the importance of corporate governance ratings in assessing a company’s compliance with listing requirements and making informed investment decisions.

Mallam Garba Kurfi, Managing Director of APT Securities & Funds, noted that a high corporate governance rating indicates timely adherence to the right practices, crucial for attracting foreign investments.

Mr. David Adonri, Managing Director of HighCap Securities, affirmed that CG+ denotes an excellent corporate governance rating, maximizing benefits to stakeholders through organized practices.

Shareholders cited high corporate governance as a key reason for investing in Fidelity Bank, citing confidence in its structure and oversight.

Dr. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), praised Fidelity Bank’s governance structure and succession plan.

Mr. Moses Igbrude, National Coordinator of Independent Shareholders Association of Nigeria (ISAN), lauded Fidelity Bank’s impressive performance built on strong corporate governance.

Mrs. Bisi Bakare, National Coordinator of Pragmatic Shareholders Association of Nigeria, highlighted Fidelity Bank’s leadership and continuous growth over the years.

Mr. Boniface Okezie, National Coordinator of Progressive Shareholders Association of Nigeria, emphasized that good corporate governance is foundational to Fidelity Bank’s sustained growth and promising future returns.

The NGX enforces sanctions against defaulting companies with poor corporate governance, including fines, trading suspensions, and delisting in extreme cases.