IoD task private, public sector on corporate governance practices
The Institute of Directors (IOD) Nigeria, has called on both public and private sector to abide strictly the corporate governance practice to promote development in the country.
President/Chairman of Council, IoD Nigeria, Ahmed Rufai Mohammed, made the assertion when his team paid a courtesy visit to The Guardian Headquarters, yesterday, in Lagos.He recalled that many years ago, the civil service was looked up to by many as the model in terms of governance, structure, and other leadership skills, which was emulated by many organisations that started up privately.
“In the United Kingdom like other countries, the private sector was left without the kind of leadership that it was supposed to be and over sighted. Gradually, IoD was created essentially to look at the private sector. When we came on board 35 years ago, our goal was to look at leadership issues. How do we ensure that we develop the directors, create leadership qualities in them so they can lead their organisations very well, because that is where the revenue will come? If you don’t have a private sector, you can’t grow as a nation.
“But unfortunately today, it has become the reverse, public service which used to be the epitome of governance is now on the private sector side. The private sector is now trying to teach, so we have to turn round our services teaching both the public and private sectors on corporate governance practices. Our major role is in advocacy of good governance, which has not only affected us in Africa, but also eluded us across the globe,” he said.
Mohammed said the institute organises advocacy in two ways: leadership development programme especially in general knowledge and governance, risk management and leadership.He attributed some of the challenges facing the country to impunity, saying it is the norm in Nigeria in both public and private service; “we are trying to ensure that members don’t fall prey to these issues.”
Mohammed mentioned that the institute is planning to introduce the young director’s forum for small and medium scale enterprises (SMEs), to address issues faced by entrepreneurs and start-ups.
In her remarks, Publisher of The Guardian Newspapers, Lady Maiden Alex-Ibru, commended efforts of the institute in addressing leadership issues in the public and private sectors of the Nigerian economy. While appreciating IoD Nigeria, she reiterated the medium’s support to encourage corporate governance practices through the institute.
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