Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN, has virtually inaugurated sectoral groups to institutionalise corporate governance principles for improved national outcomes.
According to ICSAN, the rationale behind the inauguration is to identify issues within the polity, provide templates and guidelines to help the government confront them more easily.
It identifies the twelve key sectors to include: insurance and pension; energy; digital economy; banking and financial sector; aviation; logistics; manufacturing; non for profit; academia; public and allied sector; marine and built industries.
Its President and Council Chairman, Taiwo Owokalade, charged the groups to be focused, responsive and proactive on trending matters that affect the nation by formulating practical solutions, especially as it concerns chartered secretaries and governance professionals.
According to him, the nations economy needs corporate governance and the institute must leverage its voice to redirect those narratives to boost efficiency of operations and contribute to national development.
In his words, many members of thevinstitute presently occupy very strategic positions and it’s a pleasure to showcase them, as there is hardly any sector that chartered secretaries would not be found.
He said the institute was an engine that powers the economy and drive corporate governance across board.
Owokalade stated that in the last five years, so many corporate governance issues and sectors have come up and the institute must create working solutions and make the necessary impact as an institute.
The ICSAN Boss said institute plans to leverage on the intellectual capacity of the members to ensure its impact is felt on national develop
Delivering his opening speech, Chairman, Polaris Bank Limited, Muhammad Ahmad noted the key strategy of the institute to enhance the status of corporate governance.
According to him, its obligations as voice and leaders of corporate governance must be anchored on ethical standards.
He charged the Institute to further reinforce Nigeria’s corporate governance journey by entrenching the set twenty-eight principles of the Nigerian Code of Corporate Governance 2018, NCCG.
Ahmad further tasked ICSAN to assist in producing guidance notes, aimed at entrenching sound corporate governance principles in the public sector.
In his words, part of the roles contained in the NCCG task secretaries is to assist the board to ensure that the NCCG code is being followed.
He said to be successful in a large group, it is best to function in smaller groups and urged the newly inaugurated sectoral groups to follow the highlighted mandates of the president to see the success of the strategy.
Ahmad believes breaking down into sectors provides the opportunity to hold people responsible, allows for stakeholders engagement, creation of policy briefs, seminars and conferences for the betterment of the country.
He noted that as an institute, they are the custodian of not just information or history of an entity but also corporate governance and institutionalising the structure, knowing that it’s a culture that would improve the country.