NSE inaugurates platform for compliance monitoring

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The Nigerian Stock Exchange has inaugurated a new platform, called SentryGRC, to promote agility and digitisation in governance, risk management and compliance areas of business.

SentryGRC is a platform that automates back-office functions such as governance, risk management and compliance, according to a statement.

“It enables organisations to pursue a systematic and organised approach to managing GRC-related strategy and implementation, thereby creating an enabling environment for increasing efficiency and effectiveness alongside reducing costs,” the NSE said.

The platform was launched at the Digital Transformation of Governance, Risk Management and Compliance Functions webinar and commemorated with a digital Closing Gong ceremony.

The Chief Executive Officer, NSE, Mr Oscar Onyema, at the launch of the platform, said, “The Nigerian Stock Exchange continues to position itself, not only to be a credible platform for raising capital, but to be a hub for innovative and creative ideas.

“We are, therefore, pleased to introduce SentryGRC to the market. We recognise 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 to help businesses achieve their strategic objectives, address uncertainties and act with integrity.”

The Executive Director, Regulation Division, NSE, Ms Tinuade Awe, said institutions must recognise the need to adapt procedures and standards “to what is relevant even as we transition to this new normal.”

“Furthermore, there is a responsibilty on regulators to become more comfortable with technology and engage with market participants on how to effectively design and deploy statutory standards that work from an operational point of view and also satisfy regulatory requirements,” she added.

Source: PUNCH.

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