News of the torrent of terrorism attacks perpetuated by Boko Haram in northern Nigeria often reports that Boko-Haram has access to weapons and machinery that are sophisticated, more so than the military’s. One report of the Chibok girls’ adoption alleged that the terrorists arrived in a fleet of brand new Toyota buses.
Nigeria took a very important step when it launched its Corporate Governance Rating System (CGRS). The Nigerian Stock Exchange working in partnership with The Convention on Business Integrity achieved this feat. But how will the CGRS make a difference to Nigeria’s economy, its companies or investors?
Small and medium sized businesses are very important to the economy. They generate employment and are the main drivers of economic growth. However, various sources report that a significant proportion of SMEs do not survive beyond the first 5 years and even when they do, they are not usually passed from one generation to another. […]
In a well-attended event with over 500 people, the Convention on Business Integrity and the Nigerian Stock Exchange launched the corporate governance rating system. (CGRS) on November 3 at Intercontinental Hotel, Lagos. At the event, CGRS, Nigeria’s flagship rating system was introduced to various market players including domestic and international investors, listed companies, international organizations […]
Two recent examples in the UK have highlighted the need for good succession planning. GlaxoSmithKline (GSK) announced that Sir Philip Hampton would succeed Sir Christopher Gent as GSK’s chairman. His experience in a similarly tightly regulated industry as chairman of the Royal Bank of Scotland makes him a stellar choice. On the other hand, Tesco’s […]
The 2nd edition of the Christopher Kolade lecture on on Business Integrity has come and gone and by all accounts, it was a momentous occasion.
The CGRS is poised to raise the Corporate Governance “ceiling” in Nigeria; give companies the opportunity to differentiate themselves by showing good corporate Governance practices and help them gain access to funds committed to good Corporate Governance practices and sustainability. The launch of the Corporate Governance Rating System (CGRS) will mark the beginning of a […]
On September 24, Nigeria’s BusinessDay reported that a study conducted by the Centre of International Private Enterprise (CIPE) in collaboration with the Lagos State Chamber of Commerce and Industry (LCCI) on the “Impact of Regulatory Agencies on Businesses.” revealed that regulatory challenges and their attendant costs have been the major factors stifling healthy growth of […]
Most organizations have good intentions when it comes to complying with regulatory and ethical standards. They demonstrate this by writing codes of conduct, having internal and external audits and by training new and current hires on compliance requirements. However, there is usually a divergence between what is coded and communicated, and what is actually carried […]
It is my sincere pleasure to deliver this Keynote, being the Second Annual Christopher Kolade Lecture on Business Integrity on the theme “Making the Business Case for Business Integrity”. Apart from the honour of being in the same room with distinguished men and women of integrity like the iconic Dr. Christopher Kolade, I am delighted […]
The 2nd installment of the annual Christopher Kolade lecture series held yesterday, September 11, 2014 and it was well attended by industry leaders, regulators, academia and members of the press. The evening started with a welcome address by Soji Apampa, Executive director of the Convention on Business integrity who mentioned that the reason why the […]
Nigeria’s rank slid down 7 points on this year’s instalment of the Global Competitiveness Ranking produced by the World Economic Forum. Nigeria ranks 127 out of 144 countries in global competitiveness, which is a composite index comprising of 12 pillars that determine the productivity of a country. These pillars include institutions, infrastructure, macroeconomic environment, health […]
LAGOS, SEPTEMBER 11, 2014. The Convention on Business Integrity will today hold the second instalment of the Annual Christopher Kolade Lecture on Business Integrity that commenced last year. This year, the lecture will examine the ethical foundations businesses in Nigeria need to put in place to ensure that their net effect on all their stakeholders, […]
Recently at the Convention of Business Integrity, we had reason to administer an electronic survey to staff and suppliers of some listed companies. The survey was a questionnaire designed to elicit the stakeholder’s assessment of the company’s integrity. Till date, we have recorded response rates of about 40 percent in case of staff and about 20% […]
There is scarcely any organization that does not have integrity listed as a value, and for some, plaques highlighting integrity are placed on walls around the organization. However, what does it mean in reality to be a business with integrity? The businessdictionary.com defines integrity in the following ways: 1.Strict adherence to a moral code, reflected […]
Recently I found myself uncertain about the best course of action to take and wished I had a code to consult to guide my decision making in the area I faced uncertainty. I am sure this kind of uncertainty is experienced in various organizations around the world. A code of conduct is an organization’s uncertainty […]
Ebola is the latest epidemic to hit Africa, and it arrived Nigeria through a Liberian traveller. Sadly, two Nigerians have been reported to die from the virus. Please visit http://ebolafacts.com/en/1 for more information about the virus and how to prevent its spread as this post is devoted to what companies’ response should be. Reading between […]
I have had course to interact somewhat closely with some companies on a project and I have observed a remarkable difference in their corporate ethos on issues like punctuality, efficiency, transparency and disclosure etc. This experience led me to think about what accounts for this difference in culture. Leadership seems to be the short answer. […]
In 2008, the US Securities and Exchange Commission charged Siemens AG for engaging in Worldwide Bribery. Siemens paid just under $2bn to the US Department of Justice to settle the matter as against the $1.1bn it allegedly made in profits through corrupt deals. The company subsequently sacked and cleared out its top staff from board […]