In addition to several discussed approaches and programs for accelerating Nigeria’s economic development and sustainability, Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN is pushing for the entrenchment of the right corporate governance as another approach for achieving growth.
Many of the approaches chatted by individuals and corporate bodies is an indication of the urgent desire to see Nigeria’s economy progress beyond the present level of 2.7% GDP growth when population is growing at 3% with unemployment at 27%.
At its 2020 national hybrid of online and offline conference slated for November, 19 in Lagos, ICSAN has assembled experienced speakers to share their thoughts on the solution of “Entrenching the right governance framework for economic development and sustainability”.
Bode Ayeku, President of ICSAN, told Businessday recently that it is important that for survival of any entity, corporate governance must be put in place. “For you to do that on a continuous basis there must be framework that is reliable and supportive of that particular entity. That is why the conference is focusing on that topic”, he said.
He noted that this is the year that the principles of corporate governance will be tested as organisations are challenged by Covid. This is why we are emphasizing the entrenchment of corporate governance framework in all organizations.
For instance, only a few shareholders now attend annual general meetings of organisations against many people previously, but the question is how would organisations now communicate to all the shareholders in a transparent manner to have a feel of what is happening and ask questions.
According to him, ICSAN is re-enforcing the fact that corporate governance framework is significant and the body is therefore encouraging all stakeholders to imbibe it towards surviving the challenges of Covid-19.
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Ayeku said other leg of the conference theme is sustainability of the initiatives of either the private or public sector.
“We are looking at what will be the support the right governance framework can actually provide to ensure that every entity will survive the current challenges in the country”.
Speakers at the conference will also discuss the New Normal, emerging trends in corporate governance and its implications on business continuity.
Ayeku noted that since March, 2020 when Nigeria started witnessing Covid-19, the way people interact has changed as they respond to the current development. The recent ENDSARS has added a local dimension to it as Nigerians witnessed the implications of local protests on organization, government and individuals. He said the conference will also be looking at the New Normal and how do businesses cope amidst these two extremes.
The two day conference will also discuss digitalization and cyber security and their impact on businesses. Digitalisation which started some years ago has been accelerated because of the impact of Covid-19. Ayeku said it is no longer an option, but now a necessity to digitalise.
He however noted that digitalization also has its own risks as there are cyber security threats. “While digitalization is in progress which is the next phase and the new normal, we should also be conscious of the implications”, he said.
The conference will also discuss the revised CAMA 2020 and identify the opportunities for especially company secretaries. Some of the speakers lined are Peter Siyan, Department of Economics, Universithy of Abuja; Olusegun Aina, chairman, Odua Investments; Amina Ayagbola, managing consultant, AKMS Consulting and Cecelia Madueke, company secretary, Julius Berger. The chairman of the conference is Malam Aliyu Abdulrahman Dikko, chairman of Bank of Industry.
