The Nation Newspaper

Tag: OPS

  • Soyinka, Adeola urge OPS on education funding

    Nobel Laureate Prof. Wole Soyinka and Managing Director/ Chief Executive Officer, Sterling Bank Plc, Mr. Yemi Adeola, have called on the organised private sector to assist the government in repositioning the education sector.

    They spoke at the Third Convocation of the Kwara State University, Ilorin which coincided with the presentation of awards to winners of the Business Plan Competition sponsored by Sterling Bank Plc.

    They noted that with the rising challenges facing governments, the growth of the sector relies mainly on private sector participation through appropriate funding and provision of content.

    Soyinka, who delivered the Convocation Lecture, advised on the need for private sector to take more interest in the sector, noting that thre was the need to develop the sector as it remains the bedrock of any nation.

    Adeola, who was represented at the event by Mr. Ademola Adeyemi, the Regional Business Executive, South West, expressed optimism that the foray into the sector by the bank would encourage other financial institutions to see the need to contribute their quota to the growth of the sector for the benefit of students.

    His words: “The challenges in the education sector are three fold – funding, capacity building and content. These have continued to hamper the development of the sector in the country leading to the outflow of foreign exchange as many Nigerians seek better and quality education abroad.

    “This informed our decision to set up the One Education Desk to constantly seek out and execute ideas that would champion the advancement of the education sector in Nigeria through strategic partnerships, service provision for students, parents, teachers/lecturers, vendors, school administrators and the non-academic staff as well as the provision of world-class ICT solutions and other services with the ultimate aim of reducing unemployment in Nigeria”.

    He added that the desk would serve as the platform “to achieve our objective of putting in place a one-stop shop for ICT infrastructure solutions and other services needed to take education to the next level, ultimately improving the quality of graduates churned out in Nigerian institutions”.

    Adeola said the sponsorship of the  competition was a confirmation of “our conviction at Sterling Bank that the MSMEs remain the catalyst of economic growth of any nation especially in a developing economy like ours. It also goes a step further to attest to our commitment to the sustainable development of the education sector in Nigeria”.

    While praising the university for organising the competition, he said “it will serve as a starting point for the galvanisation of practical ideas towards the industrialisation of the country”.

    Adeola enjoined the winners of the award to use their prizes on their projects to create value for themselves and the society.

  • How NEPC, SURE-P, OPS boost employment

    How NEPC, SURE-P, OPS boost employment

    A tripartite partnership with the Nigerian Export Promotion Council, Graduate Internship Scheme (GIS), a component of the Subsidy Reinvestment and Empowerment Programme (SURE-P) and the organised private sector has helped alleviate the unemployment crisis in the country in no small measure, reports Assistant Editor, Nduka Chiejina

    THE Nigerian Export Promotion Council in collaboration with the Federal Ministry of Finance recently organised a stakeholders’ interactive forum on Graduate Internship Scheme (GIS), a component of the Subsidy Reinvestment and Empowerment Programme (SURE-P), with the theme: ‘Integrating GIS in Non-oil Export Development.’

    The forum was organised to sensitise export sector stakeholders on the benefits of participating in the SURE-P Graduate Internship Scheme.

    The forum was conceived to mobilise export-oriented firms to participate in the GIS as a means of building capacity of interns to be engaged in setting up and managing export-oriented businesses; open up opportunities for job creation in the non-oil sector, especially export business; sensitise stakeholders on the NEPC’s Youth Empowerment Export Skills Acquisition Programme (YEESAP); revitalise the non-oil sector of the economy towards increasing its contribution to GDP growth and provide greater non-oil export job opportunities, focusing on youths as the bedrock of a sustainable national economic development and ensure that the Export Expansion Grant (EEG) scheme, as a fiscal tool, is also used for implementing government economic policies aimed at ensuring capacity building and creating enabling environment for employment generation.

    The speakers were happy with the idea of the partnership between the Nigeria Export Promotion Council and the Federal Ministry of Finance’ Graduate Internship Scheme (GIS) and they viewed the integration of internship into the export business as a platform for producing future managers and professionals for the non oil export sector.

    The resolutions reached by the participants commended the federal government for introducing SURE-P and especially the Graduate Internship Scheme, which was viewed as an important intervention in the life of unemployed graduates.

    YEESAP was also commended as a well-thought out project and participants agreed that the interns should be trained on export skills before being deployed to the organisations in order to enable them contribute meaningfully to the participating organisations.

    Challenges

    It has been alleged that some firms and interns were engaged under fraudulent circumstances, with several cases cited in Ondo and Osun states. These cases have been investigated and culprits – both firms and interns – were said to be expunged from the scheme. Monitoring has also been strengthened in all states. In order to address the problem of delayed uptake of graduates by firms, internship firms have been identified and organised in all states to facilitate swift selection/matching and documentation of graduates.

    The Executive Director of Nigerian Export Promotion Council, Olusegun Awolowo, expressed happiness with the partnership formed between NEPC and the GIS.

    In his words, the NEPC boss stated that “this is a clear effort at encouraging government to government partnership and by extension public private partnership (PPP) as well.

    “The NEPC-GIS partnership is an attempt by our two organisations to work together towards discharging our statutory responsibilities as well as achieving some of the targets set out by federal government in the Transformation Agenda in the areas of reducing unemployment, skills acquisition, capacity building and creating pool of trained graduates, capable of adding value to participating employers.”

    Speaking in similar tone, the Project Director, GIS, Mr. Peter Papka, stated that “Graduate Internship Scheme, which is one of the interventions of SURE-P, is a platform that provides young graduates with a one-year temporary work experience to make them stronger candidates for job openings in the labour market as well as boosting their chances of being self employed.”

    According to Papka, “among the objectives of the scheme is the resolve to enhance the employability of at least 50,000 unemployed graduates in the 36 states of the federation and in the FCT by improving their skills through work placement.”

    He emphasised that the “graduate internship scheme is providing a platform for the reduction of vulnerability among unemployed Nigerian graduates. Internship from our experience provides soft landing for many such graduates in finding direction for their lives either through jobs or entrepreneurship. It is our hope that this scheme will be sustained as a veritable bridge between school and the job market, so that Nigerian graduates would disrobe the toga of despondence on completion of national service.”

    Mr. Peter Papka noted that different partnering firms around the country indicated that many graduates were willing to excel, while utilising the GIS to do so. The firms, he added, were also utilising the scheme to determine prospective candidates for their employment, without having to search wide.

    To engender more interest in the GIS/NEPC partnership, Papka said government was planning to “review conditions of service for the interns, especially by increasing their monthly stipend and provision of insurance cover has also endeared serving interns to work harder, and other graduates to register; while also stirring interest of more firms/organisations or firms have come to appreciate not just the benefits derivable, but the national implication of their participation, that is why they play their roles by opening their doors to mentor these graduates for 12 months. We have partners among multinational corporations, financial institutions and SMEs, NGOs and government institutions.”

    Special partners

    Partnership has been established with the Nigerian Export Promotion Council to integrate GIS into the export trade with a view to encourage and train graduates to key in and participate in government’s divestment into the non-oil sector. The objective of NEPC’s Youth Empowerment Export Skills Acquisition Programme (YEESAP) is to train 500 graduates on export trade, while the outcome expected is that they will be export-ready after internship. YEESAP has been established to achieve this and over 3000 graduates are to be engaged at the first instance.

    Emerging trends

    There are already several lessons emerging from the GIS which are reaffirming the objectives of its establishment and others which would guide future direction of the educational curricula.  One of the key results emerging from the scheme is the high rate of retention of interns by their employers. Many interns have also found employment with other organisations as a result of the skills they have acquired and improved personality they have developed during internship.

    Besides, GIS is gradually emerging as the bridge between educational institutions and the labour market, providing a pool of skilled, trained, experienced and work-ready graduates for firms to select without having to go through a formal, costly process of recruitment.

    To analysts, there is need to take a look at school curricula at all levels and introduce mandatory courses of entrepreneurship, thus preparing school leavers at all levels with a capacity to start and run their own businesses and not seeking employment.

    This is even as more Nigerians are calling for the institutionalisation of the scheme beyond 2015, so that results are sustained and expanded to cater for more graduates and firms. There are also calls for academic reviews of the opportunities that GIS can create for national development in the execution of its mandate.

    Registered graduates who may never benefit from matching to firms are being targeted for an online employability training in order to avail them an opportunity to develop skills through online modules, which are to be developed in collaboration with and certificated by sector professional bodies.

    Nigerians are becoming increasingly aware of the importance of internship in the life of graduates, especially those that are unemployed, in terms of the value they can add during this waiting period as well as the benefits and skills they will develop. Katsina has shown more appreciation to GIS and commitment by establishing its own version of GIS, deploying 600 graduates for a year and paying them N30,000, just like GIS.

    There is a clear need for synergy between all tiers of government in a programme like this for optimisation of benefits and for greater impact. States and local governments are therefore urged to key into such initiative as demonstrated by Katsina State.

    The prospect for this graduate internship is huge. However, there is need for improvement in business environment for the private sectors, who invariably are the greater employers of labour.

    Young graduates are becoming more interested in setting up cooperatives to raise capital and build partnerships, and are thinking more of building their own businesses rather than rely on white collar jobs.

  • NECA advises in-coming govt on dialogue with OPS

    NECA advises in-coming govt on dialogue with OPS

    The Nigeria Employers’ Consultative Association (NECA) has called on the President-elect, Mohammadu Buhari to carry the Organised Private Sector (OPS) along, through dialogue and consultation in the formulation and execution of key economic policies.

    NECA’s President, Mr. Larry Ettah, who spoke in Lagos,  explained that though the task ahead of the President-elect were onerous, but they are not insurmountable.

    Ettah said there is the urgent need for the General Buhari-led administration to address the fundamental of the high cost of doing business and low productivity, which could be ascribed to macroeconomic factors, institutional challenges and structural issues to restore investors’ confidence for businesses to thrive.

    He said Buhari must initiate policies that would in the short run, ensure security of lives and property as well as create an enabling environment that would create job opportunities for youths in the country.

    “Security, the economy and employment must be accorded priority in the agenda of the new government,” Ettah said.

     

  • How NEPC, SURE-P, OPS boost employment

    A tripartite partnership with the Nigerian Export Promotion Council, Graduate Internship Scheme (GIS), a component of the Subsidy Reinvestment and Empowerment Programme (SURE-P) and the organised private sector has helped alleviate the unemployment crisis in the country in no small measure, reports Assistant Editor, Nduka Chiejina

    The Nigerian Export Promotion Council in collaboration with the Federal Ministry of Finance recently organised a stakeholders’ interactive forum on Graduate Internship Scheme (GIS), a component of the Subsidy Reinvestment and Empowerment Programme (SURE-P), with the theme: ‘Integrating GIS in Non-oil Export Development.’

    The forum was organised to sensitise export sector stakeholders on the benefits of participating in the SURE-P Graduate Internship Scheme.

    The forum was conceived to mobilise export-oriented firms to participate in the GIS as a means of building capacity of interns to be engaged in setting up and managing export-oriented businesses; open up opportunities for job creation in the non-oil sector, especially export business; sensitise stakeholders on the NEPC’s Youth Empowerment Export Skills Acquisition Programme (YEESAP); revitalise the non-oil sector of the economy towards increasing its contribution to GDP growth and provide greater non-oil export job opportunities, focusing on youths as the bedrock of a sustainable national economic development and ensure that the Export Expansion Grant (EEG) scheme, as a fiscal tool, is also used for implementing government economic policies aimed at ensuring capacity building and creating enabling environment for employment generation.

    The speakers were happy with the idea of the partnership between the Nigeria Export Promotion Council and the Federal Ministry of Finance’ Graduate Internship Scheme (GIS) and they viewed the integration of internship into the export business as a platform for producing future managers and professionals for the non oil export sector.

    The resolutions reached by the participants commended the federal government for introducing SURE-P and especially the Graduate Internship Scheme, which was viewed as an important intervention in the life of unemployed graduates.

    YEESAP was also commended as a well-thought out project and participants agreed that the interns should be trained on export skills before being deployed to the organisations in order to enable them contribute meaningfully to the participating organisations.

    Challenges

    It has been alleged that some firms and interns were engaged under fraudulent circumstances, with several cases cited in Ondo and Osun states. These cases have been investigated and culprits – both firms and interns – were said to be expunged from the scheme. Monitoring has also been strengthened in all states. In order to address the problem of delayed uptake of graduates by firms, internship firms have been identified and organised in all states to facilitate swift selection/matching and documentation of graduates.

    The Executive Director of Nigerian Export Promotion Council, Olusegun Awolowo, expressed happiness with the partnership formed between NEPC and the GIS.

    In his words, the NEPC boss stated that: “this is a clear effort at encouraging government to government partnership and by extension public private partnership (PPP) as well.

    “The NEPC-GIS partnership is an attempt by our two organisations to work together towards discharging our statutory responsibilities as well as achieving some of the targets set out by federal government in the Transformation Agenda in the areas of reducing unemployment, skills acquisition, capacity building and creating pool of trained graduates, capable of adding value to participating employers.”

    Speaking in similar tones, the Project Director, GIS, Mr. Peter Papka, stated that “Graduate Internship Scheme, which is one of the interventions of SURE-P, is a platform that provides young graduates with a one-year temporary work experience to make them stronger candidates for job openings in the labour market as well as boosting their chances of being self employed.”

    According to Papka, “among the objectives of the scheme is the resolve to enhance the employability of at least 50,000 unemployed graduates in the 36 states of the federation and in the FCT by improving their skills through work placement.”

    He emphasised that the “graduate internship scheme is providing a platform for the reduction of vulnerability among unemployed Nigerian graduates. Internship from our experience provides soft landing for many such graduates in finding direction for their lives either through jobs or entrepreneurship. It is our hope that this scheme will be sustained as a veritable bridge between school and the job market, so that Nigerian graduates would disrobe the toga of despondence on completion of national service.”

    Mr. Peter Papka noted that different partnering firms around the country indicated that many graduates were willing to excel, while utilising the GIS to do so. The firms, he added, were also utilising the scheme to determine prospective candidates for their employment, without having to search wide.

    To engender more interest in the GIS/NEPC partnership, Papka said government was planning to “review conditions of service for the interns, especially by increasing their monthly stipend and provision of insurance cover has also endeared serving interns to work harder, and other graduates to register; while also stirring interest of more firms/organisations or firms have come to appreciate not just the benefits derivable, but the national implication of their participation, that is why they play their roles by opening their doors to mentor these graduates for 12 months. We have partners among multinational corporations, financial institutions and SMEs, NGOs and government institutions.”

    Special partners

    Partnership has been established with the Nigerian Export Promotion Council to integrate GIS into the export trade with a view to encourage and train graduates to key in and participate in government’s divestment into the non-oil sector. The objective of NEPC’s Youth Empowerment Export Skills Acquisition Programme (YEESAP) is to train 500 graduates on export trade, while the outcome expected is that they will be export-ready after internship. YEESAP has been established to achieve this and over 3000 graduates are to be engaged at the first instance.

    Emerging trends

    There are already several lessons emerging from the GIS which are reaffirming the objectives of its establishment and others which would guide future direction of the educational curricula.  One of the key results emerging from the scheme is the high rate of retention of interns by their employers. Many interns have also found employment with other organisations as a result of the skills they have acquired and improved personality they have developed during internship.

    Besides, GIS is gradually emerging as the bridge between educational institutions and the labour market, providing a pool of skilled, trained, experienced and work ready graduates for firms to select without having to go through a formal, costly process of recruitment.

    To analysts, there is need to take a look at school curricula at all levels and introduce mandatory courses of entrepreneurship, thus preparing school leavers at all levels with a capacity to start and run their own businesses and not seeking employment.

    This is even as more Nigerians are calling for the institutionalisation of the scheme beyond 2015, so that results are sustained and expanded to cater for more graduates and firms. There are also calls for academic reviews of the opportunities that GIS can create for national development in the execution of its mandate.

    Registered graduates who may never benefit from matching to firms are being targeted for an online employability training in order to avail them an opportunity to develop skills through online modules, which are to be developed, in collaboration with and certificated by sector professional bodies.

    Nigerians are becoming increasingly aware of the importance of internship in the life of graduates, especially those that are unemployed, in terms of the value they can add during this waiting period as well as the benefits and skills they will develop. Katsina has shown more appreciation to GIS and commitment by establishing its own version of GIS, deploying 600 graduates for a year and paying them N30,000, just like GIS.

    There is a clear need for synergy between all tiers of government in a programme like this for optimisation of benefits and for greater impact. States and local governments are therefore urged to key into such initiative as demonstrated by Katsina State.

    The prospect for this graduate internship is huge. However, there is need for improvement in business environment for the private sectors, who invariably are the greater employers of labour.

    Young graduates are becoming more interested in setting up cooperatives to raise capital and build partnerships, and are thinking more of building their own businesses rather than rely on white collar jobs.

  • ‘OPS yet to access N220b MSME fund’

    The Onitsha Chamber of Commerce has decried the inability of members of the Organised Private Sector (OPS) to access the Federal Government intervention fund for Micro, Small and Medium Enterprises (MSME). The President of the Chamber, Dr Tim Anosike, expressed this concern in an interview with reporters. “The OPS is still having difficulties in accessing the Federal Government’s N220b MSME fund,” he said.

    Dr. Anosike disclosed that the problems facing the sector included the complicated procedures in accessing the fund and lack of interest of many banks in the programmme. “The current N220 billion MSME intervention fund by the Central Bank of Nigeria (CBN) is a laudable initiative. This chamber believes that if the fund could be made available for the target groups, the national economy would received a significant boost at the end of the day.

    He said this is more, considering that 60 per cent of the fund goes to women entrepreneurs. He, however, expressed fears over the complicated

  • ‘OPS yet to access N220b MSME fund’

    The Onitsha Chamber of Commerce has decried the inability of members of the Organised Private Sector (OPS) to access the Federal Government intervention fund for Micro, Small and Medium Enterprises (MSME). The President of the Chamber, Dr Tim Anosike, expressed this concern in an interview with reporters. “The OPS is still having difficulties in accessing the Federal Government’s N220b MSME fund,” he said.

    Dr. Anosike disclosed that the problems facing the sector included the complicated procedures in accessing the fund and lack of interest of many banks in the programmme. “The current N220 billion MSME intervention fund by the Central Bank of Nigeria (CBN) is a laudable initiative. This chamber believes that if the fund could be made available for the target groups, the national economy would received a significant boost at the end of the day.

    He said this is more, considering that 60 per cent of the fund goes to women entrepreneurs. He, however, expressed fears over the complicated

  • OPS seeks deregulation of downstream oil sector

    OPS seeks deregulation of downstream oil sector

    Memebers of the organised private sector (OPS) have renewed the call for the deregulation of the downstream oil sector. The Director-General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf said the need to deregulate the downstream sector had become imperative in view of the wastage arising from fuel subsidy.

    Mr. Yusuf, who spoke at a forum organised by the petroleum downstream sector of the LCCI with the theme, ‘Removing Subsidy: The Implications on Banks, Downstream and Upstream Sector, Government and the Populace’, said that while countries in the Middle East and other Arab nations have been able to manage their oil resources and use the revenue from the oil sector to develop the critical sectors of their economies and lifted the standard of living of their citizenry, this has not been the case for Nigeria.

    “Unfortunately in our country, the potential of the sector has not been developed or optimised due to fraud, leakages and over regulation. As stakeholders we believe that except the subsidy regime is removed the nation cannot be moved forward,” he argued.

    Mr. Yusuf said: “The same vested interest that has stalled the passage of the Petroleum Industry Bill (PIB) is also the same cabal behind the whole subsidy set-up.” While arguing that the rich consume fuel more, he said the poor have nothing to lose but all to gain if the sector is deregulated and fuel subsidy removed. “The monies saved through the subsidy regime will benefit the poor better if it is channelled into strategic infrastructure provision such as good roads, hospitals, schools and so on,” he said.

    Underscoring the need to deregulate, Former President, Nigeria Economic Summit Group, Mazi Sam Ohuabunwa said that Nigerians have an example of the benefit of deregulation with the telecommunications industry. According to him, the Nigerian Telecommunications Limited (NITEL) after more than 45 years of operation was only able to offer 400,000 lines with inefficient services, but with deregulation of the industry, in just five years, there were over 100 million lines at a very competitive rate coupled with effective services.

    Ohuabunwa, who is also a member of   board of the Subsidy Reinvestment and Empowerment Programme (SURE-P), said deregulating the sector would check lending by banks to speculators and those who do round tripping and collect money and payments from the government without offering services to the people.

    He said the savings from the partial subsidy removal revealed that since its creation in 2012, the programme has spent N280 billion on intervention projects nationwide. He said the money was spent on road and railway constructions among others. He said while the sum of N360 billion was allocated to the programme last year, N80 billion was rolled over from last year’s allocation.

    According to him: “it is important to know that in two years of our existence, we have spent less than N300 billion. Out of the N360billion that was allocated to us, we rolled over N80billion; so we spent about N280billion. That’s what we used to get the East-West Road to where it is, the rail line running from Kano to Lagos, and all the works that have been done. “So you can imagine if the over N1trillion that was spent on subsidy is released for infrastructure development,” he stated.

  • Dickson unveils economic plans

    Bayelsa State Government, in collaboration with the Organised Private Sector (OPS), has mapped out economic plans aimed at encouraging small and medium scale entrepreneurs through the raising of N10billion Trust Fund.

    Presenting the economic blueprint of his administration at the pre-event luncheon with business stakeholders ahead of the 20th International Conference on Small and Medium Enterprises scheduled to hold in Yenagoa, Governor Seriake Dickson said this has become imperative noting the recent economic downturn in the country.

    The state, according to the governor will source for 40 per cent of the fund while the OPS would provide the remaining 60 per cent.

    Stressing the need for the promotion of the SMEs, Dickson said the recent economic depression is an eye opener, adding that some states are finding it difficult to meet their financial obligations.

    Dickson said his administration has foreseen this situation that is why it always harped on diversification of the economy from the oil and gas sector.

     

  • Govt promises OPS better operating environment

    Govt promises OPS better operating environment

    Coordinating Minister of the Economy and Finance Minister, Dr Ngozi Okonjo-Iweala has assured the organised private sector (OPS) that government will continue to put the appropriate policies in place that will allow the growth of the maunfacturing sector.

    Speaking during an interactive session with the OPS under the auspices of the Manufacturers Association of Nigeria (MAN) in Lagos yesterday, she said government is mindful of her responsibilities to the OPS and is poised to implement favourable policies that would enable industries to flourish.

    She said the manufacturing sector holds the key to employment generation and a robust economy, adding that its role could nto be wished away.

    She said government would soon implement a social security protection platform for women and children who are vulnerable disadvantaged and therefore require strategic policies targeted at them as a buffer.

    On a possible ripple effect of the suspension of the CBN governor, Mrs Okonjo-Iweala assured that the government is going ahead with all relevant policies such as the tightening of the fiscal and monetary policies, stressing that it would in no way affect any sector of the economy.

    The minister said the government would reappraise over 196 tariff lines, make locally manufactured goods internationally competitive and exportable in order to lift the sector.

  • Sambo urges partnership with OPS

    Sambo urges partnership with OPS

    The Federal Government is determined to forge a synergy of cooperation with the organised private sector (OPS) on a periodic assessment to ensure sustainable economic growth in the country.

    Vice President Namadi Sambo who dropped this hint during the Institute of Directors’ Convention and Exhibition in Lagos recently, said the country at this period of growth requires all stakeholders to contribute their quota to the development index and ensure that such socio-economic growth are sustained.

    Some of the organisations involved in the proposed partnership include the Institute of Directors of Nigeria (IOD), National Economic Summit Group (NESG), Manufacturers Association of Nigeria (MAN), Nigerian Employers’ Consultative Association (NECA) among others.

    Speaking on the theme ‘Optimising Performance in a Growing Economy’, Sambo, who was represented by the Head, Federal Civil Service, Buka Aji, said though the Gross Domestic Product (GDP) of the country stands at 7.1percent in 2012 as against 7.4 percent in 2011, assured that the government is fast tracking measures to place the country among one of the most industrialised nations by the year 2020.

    “Like any other human problems, the government will be delighted to see that IOD and other well-meaning groups would forward proposals to us on how to better combat all the challenges facing the economic situation of the country”, he said.

    Also speaking during the occasion, the Chief Executive Officer, Nigerian Stock Exchange, Oscar Onyema, said good economic and corporate governance including transparency in financial management were essential prerequisites for promoting economic growth and reducing poverty, promoting economic market efficiency, controlling wasteful spending as well as encouraging private financial flow.

    He said corporate governance practices in companies is currently at varied stages of implementation but however added that all registered companies should have and be accountable for their corporate practices, adding, the banking sector is leading the charge.

    Onyema agreed, regulators were still struggling with the scope of regulation, capacity and ability to effectively monitor levels of compliance and enforcement mechanisms, adding stakeholders’ limited understanding of corporate governance prevents increased investments, higher valuations competitiveness and adequate risk management and investor protection mechanisms.

    He said to contain corporate governance implementation challenges, there is need to ensure among other things consistency, responsibility, accountability, fairness, transparency and effectiveness that is deployed through the organisation.