The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) Lagos State Chapter paid a courtesy visit on Monday 20th, May to Chief Executive Officer, Bank Of Industry.
During the visit Francis Olawale, the Chairman of ICSAN Lagos State Chapter, said the Chapter in fulfilment of the Institute’s mandate to promote the ethos of good Corporate Governance engages in some activities for its members and the general public,these include :Business meetings, annual Workshop and Conferences all of which are geared towards increasing efforts among members to develop and grow the study and practice of Corporate Secretaryship in Nigeria.
He added that Chartered Secretaries and Administrators add value to organisations in key roles, where there are requirements for integrity combined with sound knowledge of business to ensure effective operations within the laws, regulations, best practice and codes of ethics.
On key areas for cooperation between the Institute and Bank of Industry, Olawale, expressed the desire for BOI to remain engaged with the Institute in order to address issues of concern and to enhance future prospects for cooperation in Corporate Governance and Public Administration among SMEs and the bluechips.
“As Governance Practitioners our members serve as the bedrock for instituting proper structures that enhance sustainability in the organisations they serve. The same objective is achieved with client companies for those members who run their private practice firms.”
“We believe we are partners in progress as we are aware of the mandate of the bank which is to provide financial assistance for the establishment of large, medium and small projects as well as the expansion, diversification and modernization of existing enterprises; and rehabilitation of existing ones,” Olawale said.
Further more, he said for these establishments to thrive and remain sustainable on the long run for the benefit of the economy there is dire need for proper Corporate Governance at various scales which is an area our Institute can partner with you and we also want to use this opportunity to seek your constant support and collaboration for our events.
Olukayode Pitan, the Chief Executive officer, BOI apprised the institute for the good initiatives currently being undertaken, as well as progress made towards the propagation of ethos of good Corporate Governance in line with international best practice.
“We like to support progressive associations, it is necessary we let the public know about what ICSAN is doing and even what proper Corporate Governance is,” he said. According to him, the small and medium-sized enterprises (SMEs) need the services of the Company Secretary to take down minutes of decision making proceedings of the board and to help set up good governance structures.
“We have seen banks; big companies fail before because of poor Corporate Governance, when they flout some regulations or when there are no controls. We know the importance of good governance, so we align with the Institute’s efforts. Corporate Governance also leads to proper management and repayment of loans,” Pitan said.
Olawale seized the opportunity to seek support for the oncoming business meeting of the Chapter which holds on Thursday 13th o June 2019 at the function room, MUSON centre onikan Lagos. The theme is ” Nigerian Code of Corporate Governance 2018: A focus on the requirement for Corporate Governance Evaluation ” Speakers are: Nosike Agokei,FCIS , a Corporate Governance expert and Past President of ICSAN and Nelson Anumaka ,a Deputy Director and Head of Directorate of Corporate Governance at the Financial Reporting Council of Nigeria who also served as the Secretary to the steering committee that drafted the code.
ANTHONIA OBOKOH
