ICSAN Worried about Rising Exit of Businesses

Omolabake Fasogbon

The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has expressed concern over the increasing number of businesses exiting the country in recent times.

It stated that the trend was harmful to Nigeria’s investment profile as well as the federal government’s Gross Domestic Product (GDP) and revenue target.

Owing to this, the institute wants the government to stop playing lip service to Nigeria’s challenges and set out for tangible actions that will be favorable to manufacturers and consumers alike.

Specifically, President of ICSAN, Funmi Ekundayo, said government should start with restoring investor confidence in the country by making the business environment more conducive for operators to thrive.

Stressing the importance of infrastructure, Ekundayo who spoke at a media parley in Lagos, asserted that government must fulfill its promise by pulling savings from fuel subsidy into public infrastructure that would serve investors and bring relief to citizens.

Notwithstanding economic challenges, Ekundayo expressed optimism about the economy, urging Nigerians to be patient with the present administration’s policies.

Given present situation, she charged Nigerians to wake up to their role of holding government accountable.

She further emphasised the need for government to cut down on the cost of governance this period and be sensitive to the plight of the masses.

On ICSAN’s steps towards improving corporate governance, Ekundayo added, “In the quest to propagate quality education and knowledge on governance matters in Nigeria, we have recently signed a Memorandum of Understanding, MOU, with the Nigerian Institute of Legislative and Democratic Studies, Abuja, in conjunction with the University of Benin, for Master of Science in Governance.