The Nigerian Stock Exchange (NSE) yesterday launched an innovative software called SentryGRC (Sentry Governance, Risk Management and Compliance) in a breakthrough step to promote swift and global standard compliant response to capital investment, management and monitoring. The software will enhance flexibility as it can be accessed from anywhere and one can track one’s progress. The software will exert control over governance, risk management and compliance programme of the user; ensures integrity as it is the single source of truth for all shared documents; ensures efficiency as more is accomplished within a short time for governance, risk and compliance. In addition, it enforces strict organisation of actions and data to make the task effective.
The software is an ideal solution that helps organisations to pursue a systematic and organised approach to managing GRC-related plans and implementation. Instead of keeping the organisation’s data in separate ‘silos’, administrators can use a single framework to monitor compliance and enforce rules and procedures. This will allow the organisation to manage risk efficiently, reducing costs incurred by multiple installations and minimize complexity for managers.
The website for the software is http://www.sentrygrc.com.
“The NSE continues to position itself as a platform for raising capital & a hub for innovative ideas. We are, therefore, pleased to launch the SentryGRC that automates back-office functions like Governance, Risk Management & Compliance. We recognize the need to build the required infrastructure for players in the Nigerian capital market, and we see the SentryGRC platform as a step in the right direction for achieving strategic business objectives.” Says the Chief Executive Officer, NSE, Oscar N. Onyema.
Tinuade Awe, the Executive Director, Regulation Division, says, “the SentryGRC promotes agility and digitization in Governance, Risk Management and Compliance areas of business. Institutions must recognise the need to adapt procedures and standards to what is relevant in this new normal.”
The major concerns that this software has taken into consideration are:
Internal Audit Automation
In another development, the Nigerian Stock Exchange announced All-Share-Index rose by 0.34% by close of work on Tuesday, 9th June, 2020. According to their explanation, there was a turnover of 268,740,447.00 shares valued at ₦1,121,080,573.20, were traded yesterday, in 4,137 deals. All-Share-Index rose to about 25,335.15 (that is, 0.34%).
This is good news for the investment sector as the entire world battles the novel COVID-19 pandemic which has adversely affected most economies of the world, and slowed down investment.
Source: The Nigerian Stock Exchange
Categories: BUSINESS NEWS