Source: Punch Nigeria, Maureen Ihua–Maduenyi, 25 Sept. 2017
The Society for Corporate Governance Nigeria has recommended adherence to corporate governance as one of the means to curb corruption in the country.
The Director of the society, Prof. Fabian Ajogwu, who stated this on Friday ahead of a conference expected to hold on Wednesday in Lagos, explained that corporate governance would ensure accountability.
According to him, corporate governance aids the growth of businesses and protects the interests of stakeholders.
He said, “Corporate governance ensures accountability to whom it is due, prudent management of resources and recognises the interest of the organisation and all stakeholders.
“It is a proactive way of dealing with corruption, because it takes accurate account of what is given and what is expected. If this is adopted across state-owned enterprises, it will reduce the scope of corruption.”
Ajogwu explained that the 10th edition of the conference was organised as a means to actualise strong financial systems in country’s economy.
He said, “Corporate governance has gone from a good-to-have system to a must have. It defines the health, growth and sustainability of the enterprise.”