By Henry Uche
The Institute Of Chartered Secretaries and Administrators of Nigeria (ICSAN) has warned that weak corporate governance remained dangerous and precarious to Nigeria’s economic growth and development. It has therefore cautioned corporate leaders and captains of industry against unethical practices that could endanger the economy. At a corporate governance roundtable media brief in Lagos yesterday, the Chairman, Corporate Governance & Capacity Building Committee of ICSAN, Adenyinka Hassan, asserted that Corporate governance failure both in private and public sector undoubtedly affect Nigeria’s economy in the long run.
Hassan stressed the need for proper indoctrination, training and retraining of every personnel in the organisation from entry point on sound corporate governance and ethical practices to inculcate the spirit of doing the right thing at all time in the mind of every employee to ensure business profitability, sustainability and national development. “Adhering to sound corporate governance and ethical practice is a challenge in Nigeria especially in the public sector. Its failure by corporate leaders has caused more harm to both their organisations and the country at large. So, ICSAN will continue in stakeholder’ engagement to entrench this acceptable practice into the fabrics and nucleus of every organisation. Intimating newsmen of the Institute’s 2021 Roundtable on Corporate Governance slated for May 20, 2021, Hassan said it was aimed at improving the capacity of board members in both private and public sectors.