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LCCI tasks members on innovative solutions to market needs

By Femi Adekoya
27 April 2022   |   2:44 am
The Lagos Chamber of Commerce and Industry (LCCI) has inducted 74 new members into its fold while charging them to embrace credibility and innovation, as well as re-evaluate their operations

Michael Olawale Cole, President of LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has inducted 74 new members into its fold while charging them to embrace credibility and innovation, as well as re-evaluate their operations and business models to operate efficiently in a post-pandemic economy.

Speaking at the induction ceremony in Lagos, President, LCCI, Dr Michael Olawale-Cole, said the Covid-19 pandemic emphasised the need for businesses to be innovative to meet emerging needs and expectations of the market.

Similarly, members were advised to adhere to professional and high ethical standards to achieve profitability and sustainability in their business operations.

According to the LCCI President, businesses have obligations which transcend profit-making, noting that adequate attention to the integrity of business transactions and practices is key to ensuring business continuity and profitability.

Olawale-Cole during the chamber’s induction ceremony, added that the Chamber believes so much in adopting ethical behaviour and fairness in carrying out business dealings with members, non-members and the society at large, while also expressing the need for the Federal Government’s protection of the business environment.

“The challenges created by COVID-19 portend new opportunities that we must never allow to waste away. As economic activities gather momentum across the world, it is imperative for businesses to seek out and seize the opportunities emerging in the global recovery.

“This involves the diagnosis of actions taken, data, trends and insights on lessons learned from the pandemic, and then using the outcomes to prioritise strategic measures to enhance the business operation and build strategic resilience for future,” he added.

He said the objective of the Chamber is encapsulated in its mission to promote and protect the interest of its members and the business community at large through public policy advocacy, creation and facilitation of commercial and industrial opportunities, and provision of business development service and observance of the highest‎ standard of business ethics.

He, therefore, enjoined the newly-inducted members to be committed to the ideals of high ethical standards and responsible corporate citizenships.

According to him, the Chamber has gone a long way to build its present image and credibility through the vision, selfless services, and integrity of its illustrious founding fathers and their worthy successors.

Earlier, the Chairman, Membership and Welfare Committee, LCCI, Sir Ladi Smith, urged the new members to be guided by the Chamber’s governance framework having been inducted as latest ambassadors.

Smith reiterated that effective Chamber governance rests upon an institutional framework that promotes fairness, transparency, accountability, and responsibility in the private and public spheres, consistent with the rule of law.