The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has charged the management of Guinness Nigeria PLC to maintain strict adherence to national rules and regulations in their business operations.
Speaking on Tuesday while receiving a delegation led by the company’s Managing Director and CEO, Girish Sharma, Olukoyede emphasized that compliance is a fundamental necessity for sustainable business growth.
During the meeting, the EFCC boss argued that it is far more cost-effective for organizations to comply with the law than to face the eventual consequences of violations.
He noted that any perceived savings gained from non-compliance are ultimately lost over time, asserting that the investment made into regulatory adherence is never a wasted expense.
Olukoyede assured the management team that the Commission is committed to working collaboratively with corporate entities that demonstrate a genuine culture of transparency and integrity.
In addition to its enforcement duties, the Chairman highlighted the EFCC’s proactive shift toward crime prevention through its Department of Fraud Risk Assessment and Control. This department works closely with both the public and private sectors to identify operational risk factors and implement necessary controls before crimes occur.
He specifically warned that the Commission maintains a close watch on tax records, reminding corporate leaders that failing to pay taxes, underpaying, or missing filing deadlines are all criminal offenses that the agency is mandated to address.
Responding to the charge, Girish Sharma reiterated Guinness Nigeria’s long-standing faith in the Nigerian economy, a relationship that has spanned 76 years.
Despite recent economic turbulence that has seen other firms exit the country, Sharma affirmed that Guinness remains committed to its operations in Nigeria.
Supporting this stance, the company’s Corporate Relations and Legal Director, Rotimi Odusola, declared that doing business the right way is a core organizational value, pledging that the company will continue to place legal and regulatory compliance at the forefront of its business strategy.
