Why probity, good governance are imperative, by Awosika

The fellow of the Society for Corporate Governance Nigeria (SCGN), Mrs Ibukun Awosika, has emphasised the collective responsibility of the society in fostering good governance and the imperative for stakeholders to speak up against wrongdoing.

According to her, for governance to work, all Nigerians have a collective responsibility to speak up.

“Whenever we are silent where we should speak, we permit wrongdoing, and by permitting, we become a player. There is a cost to every failure in our governance system, and ultimately, we all pay the price, including the perpetrator,” she remarked in her keynote address during the body’s yearly general meeting, President’s Dinner and Induction ceremony in Lagos.

The theme of the event was, “Stakeholder Capitalism: Rethinking Corporate Purpose and Governance.” Awosika’s address served as a rallying call for leaders across sectors to embrace governance models that balance profitability with societal impact, thereby ensuring sustainable development for businesses and communities.

The induction ceremony was a significant highlight as SCGN welcomed 74 new individual members and six corporate members into the Society. These individuals and corporate organisations join the Society’s mission to uphold and strengthen corporate governance practices, promoting accountability, transparency, and sustainability within Nigeria’s corporate ecosystem and beyond.

Prominent governance and leadership figures delivered goodwill messages during the ceremony.

They include former deputy governor of operations and director of the Central Bank of Nigeria, Dr. Tunde Lemo; Chief Executive Officer, NGX, Regulation, Mr. Olufemi Shobanjo; President, CIoD, Mr. Tijjani Borodo; Chairman, Board of Advisory, Centre for Public Sector Governance (CPSG) Dr. Ernest Ndukwe and Dean, Lagos Business School (LBS), Prof. Chris Ogbechie.