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Stakeholders harp on Collective Action at 3rd UN Global Compact Anti-Corruption Workshop for MSMEs

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Tuesday, July 04, 2017 7.00pm/Proshare WebTV

 

Stakeholders at the 3rd United Nations Global Compact Anti-Corruption workshop for Micro, Medium and Small Enterprises (MSMEs), harped on the need for “Collective Action” to reduce the incidence of corruption in the Nigerian business environment.

 

This was the resolution of  100 participants at the workshop, that is also supported by the Siemens Integrity initiative.

 

Considering the adverse effects 0f corruption in Nigeria, which is one of the major factors for deterring investments into the country, the forum committed to proactive steps and more alliances to tackle corrupt practices.

 

In her opening remarks, the Co-Chairman of the Global Compact Nigeria Steering committee Ms Omobolanle Victor-Laniyan shared that the focus of the 3rd edition, was to increase business integrity, improve transparency for businesses and advance the “Anti-Corruption Agenda” which is Goal 16 of the Sustainable Development Goals of the United Nations.

 

Giving his brief charge to the MSMEs, the Compliance Officer for Siemens Nigeria a strong supporter of the initiative, called on businesses to adopt the collective action on Anti-corruption and collaborate on the compliance pact that guides businesses.

 

Mr Paul Ayim Associate Partner, Phillips Consulting Limited in a presentation revealed that studies by the International Finance Corporation, showed that 96% of businesses in Nigeria are MSMEs.

 

He identified poor management, high cost of doing business and policy inconsistency in the country as constraints facing MSMEs.

 

Ayim speaking further stressed that lack of structures, played a major part into why MSMEs were vulnerable to corrupt practices. He made a strong case for proper documentation and records filing by Nigerian  businesses.

 

The President of the National Association of Small Medium Enterprises (NASME) Prince Degun Agboade commended the UN Global compact efforts in partnership with Siemens, on the collective action to support Anti-Corruption measures in the business space.

 

Prince Agboade urged the FG to drive a one-stop regulatory process, that will strengthen the Small Medium Enterprise Development Agency of Nigeria, (SMEDAN) to carry out the effective regulation of MSMEs to curb exposures to corruption.



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