ICANBusiness, Management and FinanceBusiness Ethics and Corporate Social Responsibility2024

The Nigerian Code of Corporate Governance 2018 issued by the FRCN recommends that the board of a publicly listed company should consist of a majority of which type of directors to safeguard ethical governance?

AExecutive directors who are full-time employees of the company
BNon-executive directors, the majority of whom should be independentCORRECT
CNominee directors appointed by institutional shareholders
DDirectors with at least ten years of industry-specific technical experience
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
The Nigerian Code of Corporate Governance 2018 (NCCG 2018) requires that the board should have a majority of non-executive directors, and that the majority of those non-executive directors should be independent, to ensure objectivity, reduce conflicts of interest, and promote ethical oversight. Executive directors, nominee directors, and technical experience requirements, while relevant, do not capture the specific board composition principle enshrined in the NCCG 2018.
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