🇳🇬NigeriaWest Africa
ICSAN President emphasizes strong corporate governance for Nigeria's economic growth and investor confidence
via Punch Nigeria2 min read
Mrs. Uto Ukpanah, President and Chairman of the Governing Council of the Institute of Chartered Secretaries and Administrators of Nigeria ICSAN, stated that corporate governance is crucial for sustainable economic growth and investor confidence in Nigeria. She highlighted that while economic policies and infrastructure are important, the quality of governance within institutions often determines the success of development initiatives. Ukpanah noted that Nigeria's development challenges are frequently linked to weak governance structures in both public and private institutions, asserting that strong governance leads to progress. She defined corporate governance as the system guiding organizational direction and control, promoting transparency, accountability, fairness, and responsibility. Ukpanah explained that economies perform better with efficient institutions and strong governance standards, which attract investors, while weak governance can lead to inefficiency, corruption, and economic setbacks. She stressed the urgent need to strengthen corporate governance in Nigeria due to fiscal pressures, declining investor confidence, and governance failures. Effective boards and the embedding of governance principles in organizational culture through ethical conduct and compliance are vital. Ukpanah also linked governance to sustainability, including environmental, social, and governance considerations, and emphasized the role of regulators and professional bodies in strengthening
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