Zenith Bank CEO and IoD-Ghana Discusses Directors’ Charter Bill, Corporate Governance Code

Henry Onwuzurigbo
Henry Onwuzurigbo

The Institute of Directors-Ghana (IoD-Gh) has engaged the Managing Director and Chief Executive Officer (CEO) of Zenith Bank Ghana Limited, Mr Henry Onwuzurigbo, on the status of a draft Directors’ Charter Bill and the National Corporate Governance Code (NCGC).

Mr Rockson Kwame Dogbegah, President of IoD-Gh, who paid a courtesy call on the CEO with a delegation from the IoD-Gh, said to further strengthen professional directorship in Ghana, the Institute had sent a status draft of the Directors’ Charter Bill to the Minister of Education for due process.

The visit was to welcome the CEO who had recently assumed office and to discuss strategic matters of mutual interest regarding the practice of good corporate governance and professional directorship.

Mr Dogbegah stated that the Directors’ Charter Bill, when passed, would establish the IoD-Gh as a statutory body to set standards for the practice of corporate governance in Ghana and to provide for related matters.

Also, he updated the Bank on the key stakeholder engagement the Institute had untaken leading to the unanimous agreement on the need to develop a National Corporate Governance Code (NCGC).

The NCGC project seeks to harmonise the different industry and sector specific governance codes existing currently into a national code that will provide some ease of compliance and reference to promote the culture of good corporate governance for public and private organizations.

Mr Dogbegah, also the Chairman of the African Corporate Governance Network (ACGN), therefore, explained that, when completed, the NCGC would serve as a unified national corporate governance reference for good corporate governance for all stakeholders in the country.

Also, he indicated that the NCGC would enhance Ghana’s global appeal as an investment destination, provide clarity, inclusiveness, harmony and synergy, and boost investor interest and confidence as the harmonised code was expected to be in conformity with international best practices.

Mr Dogbegah, thus called on Zenith Bank and Corporate Ghana to support the Institute’s two major projects, the National Corporate Governance Code and the Director’s Charter Bill and join the Institute as a Corporate member.

The IoD-Gh President pointed out some notable inroads the Institute had made in promoting the practice of Corporate in Ghana, adding that as a member of the ACGN, the Institute had over the past two decades engaged in training, advocacy and publications geared towards national adherence to good corporate governance.

Mr Henry Onwuzurigbo, Managing Director and CEO of Zenith Bank Ghana Ltd, who led Zenith Bank delegation, assured them of the Bank’s commitment to continuously uphold the tenets of good corporate governance.

As MD and CEO, Mr Onwuzurigbo said he would continue in the steps of his predecessors and continue to foster a cordial rapport with IoD-Gh.

He commended the Institute of Directors-Ghana for the exceptional leadership shown in promoting good corporate governance and director professionalism.

Zenith Bank Ghana Ltd emerged winner in the Universal Banking Category as the Best Corporate Governance Compliant Organisation at the Fourth IoD-Gh Corporate Governance Excellence Awards held in November 2021.

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