Lagos State governor, Mr Babajide Sanwo-Olu, has urged organisations to embrace good corporate governance to achieve development.
Speaking yesterday at the National Corporate Governance Summit (NCGS 2022), which had “Building a Strong and Virile Economy: The Role of Corporate Governance” as theme, at Oriental Hotel, Lagos, he said good corporate governance remained a major factor in the continuous growth and prosperity of the state.
Represented at the forum by the state’s Commissioner of Finance, Dr. Rabiu Olowo, the governor congratulated the organisers and said: “Good corporate governance, principle and practices remain a major factor in the continuous growth and prosperity of the economy of our state. Good governance has been upheld and sustained in all areas of governance including revenue generation, policy implementation.”
The forum was organized by the Institute of Directors Centre for Corporate Governance (IoDCCG), in collaboration with the Financial Reporting Council of Nigeria (FRC) and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).
The summit was designed to create awareness and enhance the knowledge of both private and public sector participants on the practical applications of the principles and practices of corporate governance and its link towards creating sustainable pathways for the nation’s economic growth and development.
Also speaking, Board Chairman, Polaris Bank Plc Mr. Mohammed Kabir Ahmad who gave keynote said there is a need for an agenda and standards must be set for accountability to the people “that elected us or the people that invested in our business or to the people who lend resources to our business.”
President and Chairman of Council, IoD, Nigeria, Dr. Ije Jidenma, said the coming together of the IoD is a good step to run the national summit bringing the public and the private sector to work together to do the code for the public sector. She said the collaborative venture is also good because it brings everyone together even those that are in the center of implementation. She also said the program is going to be held annually with a strong impact in fighting corruption.
Chairman of the National Corporate Governance Summit, Dr. Okey Enelamah, said all the stakeholders both private and public sector have come together to have the summit for the importance of corporate governance. He said everyone is looking forward to having a national code for the public sector, adding that corporate governance gives birth to good standards.
He stated that achieving transparency, equity, trust and sustainability depends on how the regulations of stakeholders are handled. The summit is about getting the buying of the private and the public sector to work together.
The summit was organized to bring leaders in various sectors of the economy to critical connections between strong corporate governance and keeping outstanding performances in areas as wide-ranging as revenue enhancement, operational efficiency, image protection and reputation, and brand attraction and sustainability.