Experts Stress Corporate Governance for Sustainable Economy

 Omolabake Fasogbon

Experts have emphasised sound corporate governance  in both  private and public  sectors to achieve sustainable growth and economy. 

 To achieve this, they called for deliberate policies and practices that promote diversity and inclusion to drive performance and efficiency. 

At the 47th Annual Conference of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), the experts drawn from diverse sectors share their thoughts on achieving sound governance in the public and private environment. 

Speaking on the theme, “Sound Governance as a Cursor to a Thriving Economic: A Case for Inclusiveness”, Co-founder of Banwo & Ighadalo, Asue Ighadalo worried that despite Nigeria’s attractions and prospects, its profile and performance had been below par due to poor governance and disregard for justice and rule of law. 

Ighodalo said despite projection by American multinational investment bank, Goldman Sachs on Nigeria becoming one of the top 20 economies by 2020, the country had rather grown backward. 

He said, “With a new government in place, we have a chance to reset, realign the direction of the economy and ICSAN must play its part at the forefront of all reforms”.

On her part, Vice Chancellor of Pan Atlantic UniversityEnase Okonedo remarked that achieving sound governance is hinged on three factors namely- strong institutions,value-based culture and Personal Social Responsibility (PSR).

She said inclusiveness which drives good governance plays a key role in both public and corporate governance to boost organisation’s bottom line and economic buoyancy. 

“Sound governance begins with us as individuals. At our private corner, we must embrace personal social responsibility, we must endeavour to live by the principles of sound governance which would certainly reflect on out corporate life. 

“We must also demonstrate unwavering commitment to transparency and accountability with a corporate culture that values honesty and integrity.

Earlier, President of ICSAN, Funmi Ekundayo said the theme of the conference strives to establish the undeniable role of sound governance in establishing a strong, viable and vigorous economy. 

She said that ICSAN has consistently promoted the ideals of corporate governance through periodic issuance of policy papers and guidance materials on Corporate and Public Administration.

“The conference was for us another avenue to engage issues of national importance on Corporate Governance and Public Administration for the purpose of expanding frontiers of knowledge and providing pragmatic recommendations for the socioeconomic guidance of the nation”, she said.