Osinbajo charge directors on ethics, good governance
Vice President Yemi Osinbajo has charged directors and corporate leaders to imbibe a culture of ethics and good governance to enable business prosperity.
Osinbajo stated this at the 2020 Annual Directors’ Conference organised by the Institute of Directors (IoD) Nigeria, where he spoke on “Business Ethics, Leadership, and Sustainability as New frontiers of Corporate Governance.”
Osinbajo, who stated that ethical practices in most organisations were unsustainable, maintained that ethical behaviour remained indispensable for organisational success.
While he commended the IoD for standardising the code of corporate governance in Nigeria and living by example, he stressed the need for organisations to be socially responsible and environmental friendly by paying close attention to good corporate responsibility and its impact on the larger society.
In his welcome address, President and Chairman of Council, IoD Nigeria, Chris Okunowo, said the conference implied that businesses and Nigeria as a nation needed to take a closer look and critically examine the various aspects of corporate governance and proffer sustainable solutions to address emerging leadership and sustainability gaps in business and public sector spheres.
He stressed the need for the Institute to be in the vanguard of a broad national movement to rebuild Nigeria, even as he stated that corruption in the public and private sectors has grown exponentially, “because our middle and professional classes have abandoned the ethical impulses that should anchor their professional and private life.
“Unless we bring professionalism, which is to say professionalism ethics, back in as our compass, we shall make the wrong turn at our present crossroad and head towards disaster.”
The keynote speaker, Marc Le Menestrel, Professor of Decision Sciences, INSEAD, Fontainebleau, France, urged directors to use wise power for sustainability, governance, and leadership.
The practice of achieving wise power, Prof Le Menestrel said, required constant training beyond one’s comfort zone.
As directors, he urged them on the need to understand the resources and exploit them to do business to make money and contribute to humanity.
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