United
Bank for Africa (UBA) Plc said it recently won the Corporate Citizens Award in
the 'Extensive Compliance Category, at an event organised by the Corporate
Affairs Commission (CAC).
The
bank in a statement at the weekend, said it received the award in Abuja.
The
Corporate Citizens award is open to all registered companies in Nigeria and
seeks to promote the culture of good corporate governance in the Nigerian
environment by recognising corporate citizens who have conducted their affairs
in compliance with statutory requirements and best practices.
"The
idea behind this initiative is to recognise performance and reward corporate
excellence among companies operating in Nigeria, with the ultimate goal of
improving our rating in the global competitiveness index," the Chairman of
the Board of Directors of the Commission, Mr. Funso Lawal, was quoted in a
statement, to have said in his remarks at the ceremony.
To be
eligible for consideration, companies must have complied with the requirements
of the Companies and Allied Matters Act and respective industry statutes and
regulations. Apart from impacting on their respective industries positively
they are expected to have performed creditably well in corporate social
responsibility.
Specifically the independent panel of judges under the Chairmanship of Dr.
Christopher Kolade, a former Nigerian High Commissioner to the United Kingdom,
looked at financial management, work place environment, management of
stakeholder relations, innovation, corporate social responsibility, industry
leadership as well as corporate governance to select winners.
26
companies including UBA were said to have made the final list from over 800
companies that were considered and UBA was one of the nine winners that
eventually emerged.
Minister
for Industry, Trade and Investment, Mr Olusegun Aganga, who represented
President Goodluck Jonathan at the event commended all the companies who
received award at the event while encouraging those who did not win to imbibe
best practices.
He
noted that the awards would provoke commitment to best business practices among
companies in Nigeria and expressed happiness that this is coming at a time the
current government's transformation agenda is blossoming.
Welcoming
the recognition to the bank, the Group Managing Director/CEO, UBA Plc, Phillips
Oduoza, said the award reaffirmed the bank's commitment to best practices in
the way it does its business across the continent.
"We
operate in multi-jurisdictions given that we have presence in 19 African
countries and three international financial centres; London, New York and
Paris. We are thus committed to higher standards in regulatory compliance in
the interest of our stakeholders and and customers." Oduoza said.
-This Day
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