Mr Adedotun made this statement on Thursday the 31st of May, 2018, at the maiden lecture series of the Alliance Law Firm held at the Radisson Blu Anchorage Hotel. Mr Adedotun who was the lead speaker gave an assurance that the council will be doing things differently. Speaking further, he said that the council will be adopting an ‘Applied and Explain’ model or an ‘Apply and Explain’ model. “This principle will apply to all organized businesses regardless of size. It is intended that all companies will be required to report on the level of compliance or otherwise with reason(s). “The Financial Reporting Council of Nigeria will also not attempt to revise any existing Law or Code with its proposed review”. He interestingly talked about the flexibility of the proposed code and the intention to do away with cumbersome and prescriptive nature of Corporate Governance. He also said that an Exposure draft of the code is due to be released to the stakeholders in two weeks for inputs. Uche Val Obi, the Managing Partner Alliance Law Firm during his welcome address said that the purpose of the Alliance Lecture series is to continually discuss carefully selected topics that bother on Corporate Governance. Mr. Patrick Utomi( director of the Lagos Business School), headed the panelist. Other panelist include: Alfred Okoli, Edward Okoli( Director in SEC), Mr. Augustine Avuru(CEO Seplat), Mrs. Oluwatoyin Sanni(MD/GCEO United Capital Plc) and the founding Partner of Kenna Partners Prof. Fabian Ajogwu SAN. The Panelists all agree that good Corporate Governance builds public trust and confidence in a company. In her round off speech, Mrs. Oluwatoyin Sanni advised all companies including MSME’s to embrace same as it will be beneficial at the end. The event was graced with personalities like the Honourable Justice of the Supreme Justice E. Okoi and other eminent captains of the industry.]]>

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