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Economy

ICSAN wants chartered secretaries as compliance officers in MDAs

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The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) on Tuesday called for appointment of compliance officers in government agencies to ensure stability and adoption of best governance practices.

ICSAN President, Mr Bode Ayeku, made the call in a statement made available to newsmen in Lagos.

According to him, similar to the requirements in the private sector Nigerian Code of Corporate Governance 2018, the laws establishing government agencies should make appointment of a compliance officer mandatory.

Ayeku said that the appointment should be made with clear provisions on qualifications, experience, due process as well as state clearly rules of engagement and disengagement should the need arise.

“We recommend that pending the release of the code of governance in the public sector, each Ministry, Department and Agencies (MDAs) should appoint a Secretary who should also be the Compliance Officer.

“There is no better professional well equipped to perform the role of a Compliance Officer in each MDA than a Chartered Secretary.

“The appointment must be based on rigorous process of appointment similar to the members of Council and Board and must be adequately equipped to provide independent advice to the Council and Board.

“Such secretary in the public sector should be required to perform the duties of compliance officer and charged with the responsibility of advising the Council and Board on issues relating to ethics, conflict of interest, governance, best practices,” he said.

Also, Registrar of ICSAN, Mrs Taiwo Ganiyat Olusesi, said that the Institute was scheduled to hold its annual public lecture on July 22, via a webinar.

The News Agency of Nigeria reports that the theme of the lecture is  “Survival of MSMEs During Uncertain Times: Is Corporate Governance a Luxury or Necessity?”

Prof. Chris Ogbechie of Lagos Business School (LBS) is to chair the occasion, while a Co-Founder of AACE Food Processing & Distribution, Mrs. Ndidi Nwuneli, will be guest speaker.

The Founder of Black House Media (BHM), Mr Ayeni Adekunle, and  Assistant Chief Enterprise Officer, SMEDAN, Mr Sola Dawodu, are listed as discussants.

Edited By: Chidinma Agu/Oluwole Sogunle (NAN)

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