‘Corporate governance key to achieving sustainable growth’
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has identified corporate governance as a key requirement for both the private and public sectors to engender sustainable growth and development.
In a communiqué issued after the 2021 yearly conference of the Akwa Ibom State chapter of the body, the chairman of the state’s chapter, Ime Asibong, urged organisations to imbibe the sound corporate culture and strategize towards corporate sustainability amid disruptions caused by the COVID-19.
With the theme, ‘Strategies on corporate sustainability: Impact on economy, society and governance,’ Asibong reiterated the need for chartered secretaries and administrators to brace up to adequately weather the challenges of the times as they affect the ease of doing business.
According to the communique: “The conference noted that enduring and sustainable corporate organisations conceived to address the needs of the citizenry must necessarily be built on the foundations of a robust corporate governance framework predicated on the principles of accountability, fairness, transparency, independence, integrity and ethical conduct.
“It enjoined public and private sector organisations in our economy to work assiduously towards ensuring that corporate governance culture becomes an integral part of their operational structure in the course of their developmental trajectory if they desire to meet the demands of the emerging digital economy.
“The conference noted that to drive corporate sustainability principles in our socio-economic evolution, corporate organisations must envision a long-term stakeholder value of a business strategy that focuses on the ethical, social, environmental, cultural and economic dimensions of doing business.
“The conference advised corporate organisations to seek to balance the quest for profit-making with other strategic interests of the society cum environmental protection, cultural values, ethical conduct and social Justice that can guarantee sustainable development for all stakeholders.”
Asibong, a fellow of the institute, further lauded the Akwa Ibom State Government under Udom Emmanuel for building world-class infrastructure to support the industrialisation policy, particularly as exemplified in the massive road construction, transportation, setting up a one-stop Business Approval agency to reduce the cost of doing business in Akwa Ibom State, among many numerous incentives to investors.