The Lagos Chamber of Commerce and Industry (LCCI) has charged its 80 newly inducted members to uphold the cherished tradition of high ethical standards, integrity, innovation, and good corporate governance in business practice.
President, LCCI, Mrs Toki Mabogunje gave the advice at the Chamber’s formal induction ceremony which held virtually on Thursday.
Mabogunje noted that the COVID-19 pandemic and the economic crisis that came with it underscored the need for innovation and new models for organisations and institutions to meet the emerging needs and expectations.
She said it was imperative for businesses to seek out and seize the opportunities emerging in the global recovery.
“This involves diagnosis of actions taken, data, trend and insights on lessons learned from the pandemic, and then using the outcomes to prioritise strategic measures to enhance business operation and build strategic resilience for future.
“Though the primary obligations of businesses is to maximize profit, I charge the inductees to pay attention to the integrity of their business transactions and practices, environment, climate actions and social sustainability.
“I, therefore, enjoin you all to be committed to the core principles of high ethical standards, global best practices, and responsible corporate citizenships.
“Indeed, the Chamber has a code of business ethics to which all members are to subscribe.
“The Lagos Chamber has been reinforced to continue to consistently provide services that meet the needs and expectations of our valued customers and esteemed stakeholders to catalyse private enterprises and organisations to achieve full potentials in terms of sustainable growth and global competitiveness.
“It is therefore expedient for us to position our organisations to benefit optimally from the specially designed initiatives and programmes of the chamber,” she said.
Also, LCCI’s Chairman, Membership and Advocacy Committee, Mrs Mojisola Bakare, said the membership step, if taken with the seriousness that it deserves, would have significant positive impact on the business endeavours of the inductees’ firms.
Bakare said that the move would stimulate growth, profitability, sustainability and the creation of new jobs for Nigerians among others.
She listed the gains of the membership to include global business opportunities and partnerships, access to useful and accurate business information essential for business planning and strategy among others.
“We believe that if our member companies embrace the tremendous opportunities that their membership status confers upon them, LCCI shall continue to advocate for a better business environment that stimulates growth, employment generation and development.
“You must however, place a high premium on your membership status and take it very seriously so as to be positioned to explore as much benefits as possible by your organisations,” she said.