‘New Data Protection Act, NCCG are opportunities to thrive’
Considering the harsh economic environment, the new Data Protection Act and the Nigerian Code of Corporate Governance (NCCG) 2018, have been described as opportunities for members of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) to thrive.
Outgoing Chairman, Lagos State Chapter of ICSAN, Francis Olawale, who spoke on the general state of the economy, maintained that those who would progress in a blossoming economy would always progress in time of recession.
Olawale said this during the chapter’s yearly general meeting recently.
He urged businesses to leverage on the new data protection Act and the NCCG to maintain stability and thrive irrespective of the current challenging operating environment.
“I have a personal approach to economic situations and even though we can hold the government responsible for the general state of the economy, I believe that at all times and in every way possible, the people who would progress in an economy would always progress be it a time of recession.
“Some government policies have created opportunities for our members and we were able to tap on them. This period has been a good time for our members. With the new code of corporate governance, data protection act, these are opportunities for our members to thrive,” he said.
Speaking on how he fared when he held sway as chairman of the chapter, he said his administration, which did more of advocacy and awareness programmes to major institutions, leveraged on its products to attract more funds.
He said the chapter was able to convert the chapter’s financial statements to International Financial Reporting Standards (IFRS) compliant format.
On the evaluation of executives, Olawale said, “Before at chapter level, they were not evaluated, not until last year that we brought it up that any serving executive who does not attend 70 per cent meetings of the executive should not call back into executive position has made members sit up and active at meetings.
The meeting, which witnessed a new set of executives had Mrs Nkechi Anyimah emerged as its chairman.