CAC Pledges Support to CSOs on Self Regulation

Michael  Olugbode in Abuja

The Corporate Affairs Commission (CAC) has pledged to support Civil Society Organisations (CSOs) in the country in the use of the self-regulation framework.

The Registrar  General of CAC, Garba Abubakar, made the pledge on Thursday, during the validation and launch of ‘the model self-regulatory framework for Civil Society Organisation’ organised by the British Council National Technical Committee in Abuja.

Abubakar, who was represented by the Special Assistant to the Registrar General CAC, Terver Ayua, said, the organisation is ready to partner with CSOs to reach the highest level of their purpose.

He said, “CSOs perform important activities that cut across different sectors, as regulators that register these entities, we have always partnered with and we are ready to partner with these CSOs to make sure they achieve their optimum objective.

“If they are going to continue to be relevant to rendering services to the society, we can only do that if we self-regulate or statutory regulate. We promise to give you maximum cooperation to make sure the objective is achieved,” he said.

Chief Executive Officer, Food Basket Foundation International and Co-Chair National Technical Committee, Dr. Funmi Akinyele, in her review on the ‘model self-regulation for CSOs in Nigeria’ explained that self-regulation does not mean doing away with extant laws but, making a tailored law that goes in line with the organisation’s vision.

According to her, “organisation regulated without intervention from external interference, will ensure credibility of civic societies and public trust of accountability. We know we have bad eggs in this circle but that does not mean all are bad.

“It will help incorporate public interest for basically sustainable peace and progress and contribute to common good while maintaining ethical cooperation and partnership where possible and appropriate for the greater public good.

“Accord credibility in its dealing with donors in respect to the laws in any jurisdiction, that all its stakeholders are aware of its activity and proactively report its financial details for transparency.”

She noted that as much as the model has its advantages, it also has disadvantages as it could breed unhealthy competition, where people are subjective instead of objective.

She said, “Window dressing cannot be completely put out as some CSOs if self regulates may not do the right thing but put up a front as they do.”

Similarly, Abdulsalam Badamasi, Policy and Governance Reform Advisor USAID-SCALE Nigeria, reiterated the need for CSOs’ collaboration to work better and more, this is as self-regulation makes it possible to know their strength and create better working conditions.

“Self-regulation is a matter of survival for the civil society organisation, this is because of the shrinking space for the CSOs and the amount of money flowing to this sector, accountability needs to be done, as an organisation that holds public officials accountable should also show a great level of accountability,” Badamasi said.