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Our corporate governance structure is founded on ethical ideals and openness. Because of our continual engagement with stakeholders, we have become leaders in the adoption of the best international corporate governance principles in order to produce long-term value for each of our businesses, customers, workers, shareholders, and the nations in which we operate /test text/.
At FBNQuest, corporate governance refers to the principles, guidelines, and practices that support our long-term financial success and value creation for all of our stakeholders across all of our businesses.
Our dedication to excellent corporate governance is critical to our operations and reflects not just legal obligations, NSE listing criteria, and widely accepted governance principles, but also effective leadership and supervision by our senior management team and Board of Directors.
We host general meetings with our shareholders on a regular basis to collect opinion on our corporate governance framework, and we make every effort to incorporate this feedback through improved policies, processes, and transparency.
Ownership
The FBNQuest unified brand is made up of three business groups with three subsidiaries: FBNQuest Merchant Bank Group (FBNQuest Merchant Bank, FBNQuest Asset Management, and FBNQuest Securities), FBNQuest Capital Group (FBNQuest Capital and FBNQuest Funds), and FBNQuest Trustees. Each subsidiary company’s ownership and structure are distinct, with all business entities keeping their own board and management structures as sanctioned and controlled by relevant stakeholders and regulators.
The Board – Composition, Roles & Function
Each of our companies has a Board of Directors that includes a Chairman, Executive Directors, Non-Executive Directors, and Independent Directors. These Directors have a diverse set of talents and experience, as well as an in-depth understanding of our particular business environment, which enables them to carry out their various roles and responsibilities successfully.
The Board of Directors is jointly responsible for the long-term performance of the businesses they oversee, as well as the broader group strategy and business model. The management teams, lead by the Managing Directors/Chief Executive Officers, are in charge of putting the plan into action and running the firm daily. This strategy and company model are intended to maximize long-term shareholder value.
The Board of Directors controls the company and are subject to Audit, Remuneration, and Nominations by various committees to which have well-defined functions. These Committees’ terms of reference are reviewed yearly.
Engagement with stakeholders
The boards of each business engage with shareholders to maintain a mutual understanding of objectives between them and the Company and manage their expectations. Relations with shareholders and potential investors are managed principally by the Executive Directors. Under the group governance of FBNHoldings Plc, Annual General Meetings are held with stakeholders in attendance in line with government regulations. This platform allows for questions, deliberations and interactions with stakeholders before and during the meeting.
We believe in the importance of impacting our employees, environment and society through sustainable corporate responsibility practices and activities. As a forward-thinking organisation, we focus our attention on both increasing our bottom line and being a good corporate citizen. This is achieved through the shaping or reshaping our framework, business models and policies in line with global trends to deliver benefits to our stakeholders.
We have adopted a Corporate Responsibility & Sustainability (CR&S) approach which aligns with the overall vision and goals of the Merchant Banking and Asset Management group under the strategic framework the FBN Holdings Plc:
Increasing interaction with our worldwide workforce has been a central objective, especially during a worldwide epidemic when our top priority was to keep our employees safe. Our internal communications platforms have enabled continuous contact between individuals and teams across our businesses, allowing us to do business in a secure environment.
We proactively encourage integrity in our interactions with our employees, candidates/temporary workers, shareholders, clients, and suppliers, as well as the governments of the countries where our subsidiaries operate. We recognise that the reputations of each of our businesses are precious assets that have been built up through time and must be safeguarded, and we have various policies in place that hold both us and our stakeholders accountable.
All our employees, regardless of ethnicity, comply with the laws and regulations of the countries in which they operate, and those responsible for the management of each operating subsidiary are subject to the Boards with their compliance to governing laws and regulations, as well as the Group’s policies and Code of Conduct. All employees are aware of our Whistleblowing Policy, and we have a well-established whistleblowing procedure in place.
Our business subsidiaries are expected to guarantee that their advertising and public communications do not contain any untruths or exaggerations. They are also required to create relationships with suppliers based on mutual trust and to make every effort to pay suppliers on time and according to agreed-upon business terms.
