Friday, October 18, 2019 / 01.15PM / Ottoabasi Abasiekong
for Proshare WebTV / Header Image Credit: WebTV
Nigeria's quest for attracting more foreign direct investments, FDIs and private capital into the economy, will be accelerated if there is high value for good governance in the public and private sector.
The Founding Partner of Kenna Partners, Professor Fabian Ajogwu, SAN said this at the October edition of the Nigeria-British Chamber of Commerce breakfast meeting which discussed the theme "Enthroning a Culture of Good Governance".
Professor Ajogwu who was the keynote speaker asserted that in the 21st century capital will only go to climes that are predictable and well organized. According to him environments that have poor regulations, lose the opportunity for attracting capital and this can affect various sectors of the economy.
Speaking further, he noted that FDIs go to countries that have predictability in policy, stating that capital is not emotional or patriotic. He acknowledged that Nigeria has witnessed an evolution of corporate governance codes, but harped on effective implementation to drive good governance.
Looking at Corporate Nigeria, Prof Ajogwu stressed that to build lasting entities good governance must be entrenched in all spheres.
The legal luminary and scholar, informed stakeholders that corporate governance gained significant recognition due to various financial scandals around the world and collapse of major corporate institutions in the United States and Europe.
"Nigeria's corporate governance framework has evolved greatly and has gradually been entrenched as an essential element for the success and longevity of companies" Fabian Ajogwu said.
He chronicled the evolution of corporate governance in Nigeria, to include;
Professor Ajogwu also highlighted the following as the Importance of Corporate Governance To The 21st Century Business Climate;
The President of the Nigeria-British Chamber of Commerce, NBCC Mr Kayode Falowo in his opening remarks described the discourse on "Enthroning a Culture of Good Governance" as critical for driving organizational efficiency, achieving an improved business environment for investors and leading a vibrant economy.
The event also featured a robust panel session that explored the theme with Professor Nat Ofo (Igbenidion University), Dr Nechi Ekeazo (Executive Director, Institute of Directors, Nigeria ), Prof Fabian Ajogwu, SAN (Founding Partner, Kenna Partners) and Mr Daniel Asapokhai (Executive Secretary/CEO, Financial Reporting Council Nigeria).