Governor Ibrahim Hassan Dankwambo of Gombe State has commended the Financial Reporting Council of Nigeria (FRCN) for its commitment to promoting high standard of Corporate Governance and Financial Reporting practices in the country.
Governor Dankwambo, who was represented by the Commissioner for Economic Planning, Alhaji Danladi Pantami Mohammed, gave the commendation at the public hearing and sensitisation on Nigeria Code of Corporate Governance in the North East, held at Maidugu Hotel, Gombe, on Tuesday.
He stated that the review of the National Code of Corporate Governance with a view to encouraging and increasing trade and investment was a demonstration of Federal Government’s commitment towards ensuring effective corporate governance for the socioeconomic development of the nation.
“In the contemporary world, good Corporate Governance practice is not only a prerequisite for facing intense competition for sustainable growth in the emerging global market scenario but also an embodiment of parameter of fairness, accountability, disclosures and transparency to maximise value for the stakeholders,” he said.
The Gombe State governor, therefore, called on the body to “be meticulous and work assiduously to ensure that the basic interrelated segments of Corporate Governance take a centre stage.
He said the state government was creating an enabling environment for further investment within and outside the state.
“Our commitment has been demonstrated through the provision of massive and unprecedented infrastructural facilities as well as employing measures requisite for the progress of the state.
“It is gratifying that the World Bank sponsored publication “Doing Business in Nigeria” acknowledged by the Federal Ministry of Industry, Trade and Investment as well as Nigeria Investment Promotion Council (NIPC) adjudged Gombe second in terms of ease of doing business in Nigeria,” he said.
Speaking with newsmen after a technical session, Executive Secretary/CEO of the FRCN, Mr. Daniel Asapokhai, said that he was impressed with the large turnout of people for the public hearing in the North East saying it surpassed the ones held in Port Harcourt for the South South and Owerri for the South East respective.
“You could see a hunger for the knowledge and support that the code can provide and institutions like FRCN can play. That means we have to redouble our efforts in terms of providing support and outreach in the north east zone to support corporate organisations,” Asapokhai stated.
He stated that the public hearing and sensitisation on Nigerian Code of Corporate Governance was a stepping stage, adding that once the Code has been finalised, “the next phase would be massive national awareness campaigns in terms of monitoring and application of the Code”
Asapokhai stated that FRCN preferred a situation whereby compliance is being enforced at the citizens level out of awareness of what should be and being able to hold companies accountable.
“This would proceed from the fourth quartre of the year when the Code would have been released and finalised,” he