The Institute of Directors (IoD) in collaboration with the Finance Reporting Council of Nigeria and Institute of Chartered Secretaries and Administrators of Nigeria is set to host National Corporate Governance Summit 2022 (NCGS).
The NGCS 2022 is the maiden edition and it is said to be two-day event slated for 7th and 8th November 2022 at the Oriental Hotel Lekki-Epe Express way, Lagos.
Speaking to journalists yesterday, the Registrar/CEO, Chartered Institute of Bankers of Nigeria, Dr. Seye Awojobi pointed out that sound governance is the bedrock of virile and sustainable economic growth for both Corporations and Nations. He said in his words that “Corporate Governance became more pronounced in critical sectors of Nigerian Economy leading to the establishment of few sectoral codes of Corporate Governance and finally the National Code of Corporate Governance 2018, (NCCG 2018).”
He recalled that the NCCG 2018 was unveiled by the Vice President, Prof. Yemi Osibajo, GCON on the 15th of January 2019 with the aim of promoting public awareness of essential corporate values and ethical practices by recommending practices and principles that affected companies are to obey.
Dr Awojobi explained further that the NCCG code generally applies to not only the publicly quoted companies but also to Regulated Private Companies. He said, “The code provides a framework which is to ensure good corporate Governance Practices in the private sector of the Nigerian economy by articulating a broad set of principles on corporate accountability, Transparency and Sustainability for both Public and Private companies in Nigeria.”
Mr Seye stated that with the COVID-19 Pandemic, emergence of Corporate Governance environment became characterised by an increasingly complex set of pressures and demands for various stakeholder groups, increased expectations of engagement with societal and environmental factors, coupled with uncertainty about the future. He stated that these factors were complicating decision making process and challenging the traditional Model of governance. Then, it became imperative that Public and Private Organizations were to become more intentional in implementing sound governance practice and adapt the corporate governance framework to address some of the challenges brought by changing environmental variables.
According to him, the summit in recognition of the critical role of sound Corporate Governance in Nation’s Building will create awareness and enhance the knowledge of both private and public sectors participants on the practical application of the principles and practice of corporate Governance and its link towards creating sustainable pathway for Nation’s Economic Development and Growth. It is expected to expose leaders in the various Sectors of the Nigerian Economy to critical connections between strong and corporate governance and outstanding performance in areas as wide-ranging as revenue enhancement, operational efficiency, image protection and reputation, brand attraction, sustainability and economic development.
He highlighted various sub themes which will be thoroughly dissected to identify opportunities in key sectors and industries of our economy. Some of which are; institutionalizing corporate governance: the role of ethical and responsible leadership, unlocking the potentials of young creative Minds: Driving Strong Governance and Integrity Culture, Corporate Governance in the ICT Sector: Tapping the emerging opportunities and so on.
The NCCG 2022 Summit promised to be impactful and effectual as His Excellency, Prof. Yemi Osibajo, SAN, GCON and other dignitaries will attend.