‘Lack of good governance hinders success of organisations in Nigeria’
Executive education provider, TEXEM has identified lack of good corporate governance as the bane of organisational success in the country.
The United Kingdom-based firm said an effective board guided by corporate governance values, provide strategic direction, optimise decisions to strike a balance between risk management and developing a culture of innovation to help achieve organisational success.
Speaking ahead of a two-day Master Class on how to create and run an effective board and directors, Chair of TEXEM UK, Dr Alim Abubakre, said: “In this turbulent, challenging, dynamic and fast-paced operating landscape characterised by new risks and opportunities, good governance remains the bane of many Nigerian organisations success.”
The class, which is slated for April 10 and 11 in Lagos, is expected to be coordinated by former Dean and Professor Emeritus of Cass Business School London, Prof. Andrew Chambers, who is passionate about stimulating better board performance and has chaired many boards.
Dr Abubakre said the masterclass will transform attendees from a passive, less productive board into a better strategic thinking board leader ready to establish and maintain good governance practices.
He noted that the programme was informed by a recent research which revealed that many boards are facing complex challenges relating to how they can effectively offer risk management oversight, drive innovation in this digital age, and provide strategic direction.
His words: “When you are a member of any organisational board in Nigeria today, it feels like you have a million things working against you; fast-changing technologies, limited infrastructure, the volatile economic and regulatory ecosystem are all challenges that you must deal with.
“You are always short on time because the structure, administration and strategies of boards have become even more complicated and could make or break the progress of organisations. Knowing that you are constantly competing with thousands of other organisation boards just like you sometimes globally.
It could be, overwhelming. However, the silver lining is that there is a myriad of opportunities that could be explored for those who are prepared and well equipped.
“To improve your performance, strike a balance between innovation and compliance; local and global competitive influences, short and long term, commercial and stakeholder interests (where they conflict). This TEXEM master class will empower you with the requisite knowledge and skills that you need to make a positive impact on organisational boards.”