The Institute of Directors Centre for Corporate Governance (IoDCCG), Financial Reporting Council of Nigeria (FRC) and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) have restated their commitments sound corporate governance.
Mr Shuaibu Ahmed, Executive Secretary, FRC, said at a press conference on Monday in Lagos, that promoting sound corporate governance was important to the council as it was part of its mandate.
“In 2019 the financial reporting council unveiled National Code of Corporate Governance (NCCG 2018), and since the unveiling of that code, it has been a tremendous success.
“All the listed and regulated entities have been complying, we’ve seen better governance of the affected entities and because of the success of NCCG 2018, the government recently approved that its Biller Code should be developed for public sector, for not-for-profit, as well as for SMEs. “And we’re working with both ICSAN, IoD and other stakeholders in the development of this new codes,” he said.
To provide a platform to further promote corporate governance, Ahmed said a national summit would be convened that would create a sustainable pathway for Nigeria’s economic development and growth.
Ahmed said the summit was part of awareness creation, capacity building and networking in the field of corporate governance.
Dr Seye Awojobi, Registrar, Chartered Institute of Bankers of Nigeria (CIBN) and Co-Chairman, National Organising Committee of the summit, said about 350 participants would attend the summit both physically and and virtually.
He said the participants would include public and private sector leaders, chief executive officers, captains of industry, thought leaders, members of the diplomatic community, entrepreneurs and owners of family .
Awojobi said the two-day event, to hold from Nov. 7 to 8 in Lagos, would have five sub-themes and would also reach out to undergraduates to ensure that the culture of sound corporate governance was imbibed at an early stage.
The News Agency of Nigeria reports that the summit, which would be the maiden edition, would have, “Building a Strong and Virile Economy: The Role of Corporate Governance,” as theme.
“With the COVID 19 pandemic, the emerging corporate governance environment became characterised by pressures and demands from various stakeholders, increased expectations of engagement with societal and environmental factors, coupled with uncertainty about the future.
“These factors were complicating decision-making processes and challenging the traditional models of governance.
“It became imperative that public and private organisations were to become more intentional in implementing sound governance practices and adapt the corporate governance framework to address some of the challenges brought by changing environmental variables,’’ Awojobi said.
He also said the theme of the summit would highlight the imperative of practical application of the principles and practices of corporate governance as espoused in the National Code of Corporate Governance (NCCG 2018), other relevant sectoral codes and extant laws.
The Vice-President, Prof. Yemi Osinbajo, who would be the Special Guest of Honour, would declare open the event, while, Dr Okey Enelamah, Chairman African Capital Alliance and Immediate Past Minister, Federal Ministry of Industry, Trade and Investment, would be the chairman of the occasion.
The Keynote address, he said would be presented by Mr Mohammed Ahmad, Chairman of the Board, Polaris Bank Ltd. Mr Taiwo Owokalade, President, ICSAN, said the institute was excited to partner with others to promote corporate governance in Nigeria as governance was what it does and stood for.
“So when we saw this opportunity to be part and parcel of this great narrative, we were excited because it goes to the heart of that same thing that we are already talking about.
“We also realise that it is good enough for the Nigerian environment because governance is not a destination, but a journey.
“We must ensure that we keep working on this journey not just within the local partners, but we also trying to benchmark ourselves with the global partners.
“So, when you are developing governance and thinking global, you have to also think local because all these issues will be properly put in perspective toward ensuring that we get the Nigerian environment right,” he said.
Mr Dele Alimi, Director General, IoD Nigeria, said the institute was fully involved and supportive in ensuring the success of the summit.
The Industrial Cassava Stakeholders Association of Nigeria (ICSAN) and Federal Institute of Industrial Research, Oshodi (FIIRO), have trained 100 master bakers and private confectioners in cassava flour inclusion for bread production.
Mr Segun Ladele, the President, ICSAN President, said that the inclusion of 10 per cent of High Quality Cassava Flour (HQCF) in bread production would save the country about two billion dollars on wheat importation.
Ladele said this at a one-day workshop tagged: “Stakeholders’ Engagement on Cassava Flour Inclusion in Wheat for Bread Baking,” on Tuesday in Lagos.
He urged the Federal Government to promote the initiative stressing that the process would reduce the price of bread at the long-run.
The News Agency of Nigeria reports the programme was organised by ICSAN in partnership with the Federal Institute of Industrial Research, Oshodi.
NAN reports that the participants were drawn from Lagos, Abeokuta, Ibadan, Ekiti and Akure.
The usage of 10 per cent high quality cassava flour and 90 per cent wheat flour were displayed to the participants at the workshop.
The participants were shown measurement, weighing, ingredients, dry mixing and complete mixing process.
Ladele called on stakeholders in the sector to embrace the inclusion of cassava in bread production adding that there should be synergy between the bakers and the cassava processors.
He said that the inclusion of cassava in bread making if well accepted would lead to 15 to 20 per cent reduction in the price of bread.
According to him, Nigeria produces about 60 million tonnes of cassava yearly and the largest producer of cassava in the world but the potential is still untapped.
“The war between Russia and Ukraine affects everybody and it is going to put pressure on current situation because even if you are looking at 10 per cent of cassava flour inclusion for bread making.
“The inclusion will save the country about two billion dollars on importation of wheat.
“The CBN governor said that over $20 billion is spent on wheat importation every year, so if 10 per cent is spent on cassava, we be saving lot of funds.
About two billion dollars will be saved on importation of wheat.
“The flour millers are also lamenting that the price of wheat flour is very high and we can see the result from the bread we eat now.
“Bread is very expensive now because of our failure to include cassava in wheat for bread production.
“We need help and support from the CBN to increase capacity shortage, the market is there already, all we need to do is increase production and we need the support of CBN to achieve that feat,” he said.
Dr Jummai Adamu, the Director-General, FIIRO said that cassava remains the major solution to food security and industrial development of Nigeria.
Adamu was represented by Dr Dele Oyeku, Director, Extension and Linkage in the institute.
She said that FIIRO researchers over the years not only confirmed that High Quality Cassava Flour (HQCF) inclusion in wheat flour even up to 30 per cent was safe, but its benefits were also outstanding.
She listed the benefits to include, economic benefits, foreign exchange savings, wealth creation, job creation and growth of non-oil sector.
“It is my prayer that the legislation of cassava flour inclusion in wheat flour for bread and confectioneries baking is realised to justify the labour input of all stakeholders.
“It is our hope that the current efforts in legislation of wheat-cassava composite bread will sail through the National Assembly and signed into law,” she said.
Dr Oluwatoyin Oluwole, Director, Head of Food Technology Department, FIIRO, said that the problem confronting the sector was numerous.
Oluwole said that there was high potential gain incorporating high quality cassava flour into wheat flour for bread and confectionary products.
She added that bakers would make more profit from the inclusion.
“A 50kg bag of wheat cost about N34,000 now depending on the brand, while a bag of cassava cost N20,000.“What we did was majorly recipe manipulation, you are not going to change your equipment being used for 100 per cent wheat flour.
“There will be more job opportunities for those that venture into cassava processing,” she said.
One of the participant, Miss Ronke Raman, a cassava processor representative from Ibadan, said that inclusion of cassava is laudable.
“I support the project but bakers must conduct blind testing with their customers to get feedbacks.
“Bakers need to carry out blind testing without disclosing the composition, so that the public or customers can learn about the composition and accept it.
“I have done this training before now, it is not new to me, but I think there is a need to create awareness to increase the level of acceptability.
Governor of Ogun, Prince Dapo Abiodun, has received an award of excellence by the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) for his commitment to building infrastructure to further drive the state’s economy.
The governor was presented the award at the 46th Annual Conference and of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) on Friday in Lagos.
The News Agency of Nigeria reports that the theme of the event is: “The National Debt Burden: Causes, Effects and Realistic Economic Solutions.
” Abiodun, represented by the Deputy Governor, Ogun, Mrs Noimot Salako-Oyedele, stated that the focus of his administration was to provide quality governance and create a friendly environment for Public Private Partnership to thrive.
The governor said many of his administration’s goals had been achieved with others such as airport and other infrastructure due for completion by the end of the year.
“This government is committed to resolving issues to position the state strategically as a preferred investment destination by providing the infrastructure needed to engender growth and shore up our Gross Domestic Product (GDP) contribution,” he said.
Speaking on the award, Mr Gbenga Owokalade, President, ICSAN, said some of the reforms that set the governor apart included the establishment of the State Enterprise Development Agency (SEDA) to strengthen Small and Medium Enterprises and boost their capacity.
Owokalade added that the governor unleashed his ingenuity to bring back the lost glory of education in the state.
“Social welfare and youth development beyond physical projects, among others are some of the governor’s initiatives aimed at empowering the people and making life better for them.
“Ogun is marching forward with vigour, many thanks to the leadership of Gov. Abiodun,” he said.
Prince Yemi Adefule, Foundation Partner, Odujinrin and Adefulu Solicitors, stated that the solutions to the country’s debt burden were not economic but attitudinal.
Adefule stressed the need for Nigerians to begin to eat, drive, wear, use everything locally produced, to stop being held down by the economic dictates of the west.
According to him, a country like India that has heeded his advice has become the fifth largest economy in the world and self sufficient.
“We don’t like Nigerian things; phones, cars, and fittings in our homes.
Anything Nigerian is always looked down on and that is a major problem.
“For the economy to run and be strong, the dynamics must change.
“Any economy that is tied to the apron string of some other country is a slave economy.
“That is the reason for the debt burden,” he said.
NAN reports that 21 persons were inducted as fellows of the institute, while Mrs Oyindamola Ehiwere was awarded the Distinguished Chartered Secretary and Administrator award of the year.
Also, Oba Babatunde Ajayi, the Akarigbo of Remo Kingdom and Chief Diana Chen, Chairman, Choice International Group received awards of excellence.
Dr Folasade Yemi-Esan, Head of Civil Service and Prof Abubakar Sulaiman, Director General, National Institute for Legislative and Democratic Studies (NILDS) received honorary fellowship awards.
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has expressed concern over the country’s debt profile, which it said had become alarming in recent times.
Mrs Funmi Ekundayo, Vice President, ICSAN, said at a news conference on Tuesday that the debt burden had become worrisome because it was an important part of the country’s fiscal policy.
“Debt is not a bad thing when you have the right means for your financing as a nation and you do the right thing, which includes infrastructure and other developmental purposes.
“This can act as a leverage for the economy in the long run to pay up those debts without much ado.
“But if we use the debts in the wrong direction, especially for recurrent expenditure, then that is where the problem lies,” she said.
The ICSAN vice president said for these reasons, the institute would convene a conference from Sept. 15 and Sept. 16 in Lagos to proffer solutions to the county’s rising debt profile.
The theme of the conference, to commemorate ISCAN’s 46th anniversary, is: “The National Debt Burden: Causes, Effects and Realistic Economic Solutions.
” She said the annual conference would kick off with a walk for life fitness, and that the exercise would take place simultaneously across all chapters of ISCAN in the federation.
The Minister of Works and Housing, Mr Babatunde Fashola and Speaker, Federal House of Representatives, Hon. Femi Gbajabiamila, are among personalities expected at the event.
Ekundayo said the chairman of the opening ceremony would be Fashola; Special Guest of Honour, Gbajabiamila, while the keynote speaker would be Mr Ben Akabueze, Director-General, Budget office of the federation.
“The Chairman of the Dinner and Awards Night is Prince Yemi Adefolu, Chairman of Council, Tai Solarin College of Education.
“Mrs Folashade Yemi-Esan, Head of Civil Service of the Federation and Mr Ayuba Wabba, President, Nigeria Labour Congress are some of the discussants at the conference,” she said.
Ekundayo said some of the sub-themes that would be discussed at the conference are: “Public Administration: Entrenching Sound Governance Principles for Macroeconomic Growth.
” Others, she said are: “Beyond Governance, the Role of Dedicated Followership in Participatory Democracy,” and “The Evolving Volatile, Uncertain, Complex and Ambiguous Compliance Landscape in Nigeria: A New Dashboard for the Chartered Secretary.
” She added that at end of the conference, recommendations would be forwarded to the Federal Government on how to proffer solutions to national debt and the way forward for other macro-economic indices.
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), has lauded the Federal Government for unveiling the Nigerian National Petroleum Company Limited (NNPCL) as a new entity.
The News Agency of Nigeria reports that President Muhammadu Buhari on July 19 unveiled NNPCL as a successor to the Nigerian National Petroleum Company(NNPC) in deference to the provisions of the Petroleum Industry Act, 2021.
ICSAN President, Mr Gbenga Owokalade, who described the development as a positive one, said it has freed the NNPC from institutional regulations and given it the power to conduct its affairs as a private company.
Owokalade said that development would ensure greater efficiency and boost transparency in the oil and gas sector.
“The new entity, NNPCL is now a commercially-oriented national petroleum company with all the attributes of a thriving private enterprise.
“As a leading professional institute on corporate governance and public administration, we applaud the vision behind this structural substitution of the NNPC with NNPCL, which is to ensure greater efficiency and transparency in the oil exploration and distribution system.
“We believe the new entity is more structurally poised and organically well-adjusted to provide a pivotal role for the sector.
“This transition to a private company will enable the company to be more value-driven and its operations more inclined to conform to international best practices.
“This is a very laudable development and we comment on it for the positive implications it portends for the energy sector and the nation’s economy in general.
He advised the management of the NNPCL to ensure that the principles of corporate governance are well-entrenched in the new entity for the company to fully reap the benefits of its emergence as a private company.
He reiterated the need for an adequate framework of risk management and control system within the new entity, NNPCL.
“Furthermore, proper checks and balances must be built into the system to ensure effective operation and efficiency of the company is not at any time compromised,” he said.
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has backed decentralised policing system for proper grassroots security to stem the tide of insecurity in the country.
ICSAN President, Mr Gbenga Owokalade, made the assertion at the institute’s news conference on Thursday in Lagos.
Owokalade who described the nation’s insecurity challenges as overwhelming said that state owned policing system would adequately manage the country’s entire geographical locations and tackle the rising insecurity.
He urged the Federal Government to create templates that would make it easier for states to manage their own policing systems.
“Nigeria is matured enough to have state policing and we should be bold enough to allow states have their own security apparatus if we say we are a federal structure which allows to replicate structures at all levels.
“What we need to do is to put in place governance structures and institutions that would keep the people working for these places in check.
“This is very important to ensure that a repeat of the Owo massacre does not happen and to allow the night life economy which is dying because of insecurity to be revitalised,” he said.
Owokalade urged the Academic Staff Union of Universities (ASUU) and the Federal Government to speedily resolve their issues to address the negative impact of the ongoing strike action on the unengaged youthful population and the education sector.
“You are breeding a youth force that is not adequately engaged and may join the negative narrative we already have on ground.
“There is a need to look at the future of the Nigerian child as both parties must make sacrifices to allow this issue end for the sake of our children and the sake of the nation,” he said.
He also appealed to Nigerians not to pick leaders based on tribal or religious sentiments, but subject leaders to the highest level of analysis and scrutiny for a better nation come 2023.
“Poverty, bad economy, insecurity and the rest know nothing about factors such as religion and ethnicity.
“All leaders must be subjected to the previous antecedents from past positions and must showcase the capacity to give us a future for the new Nigeria that the country deserves.
“The narrative must be about the competencies of the person and not tribe or religion to enable the country take its rightful place in the comity of nations,” he said.
Owokalade also tasked government to continue to strive in creating a more business-friendly and sustainable operating environment to address the increasing cost of production, encourage more foreign exchange inflows and create more disposable income.
He said that his one year in office had engendered a rise in the institute’s profile, bringing new stakeholders on board and led to its holding its annual public lecture for the first time in Abuja.
Owokalade pledged the commitment of his administration to grow the memenership of the institute, enhance capacity development of members and maintain its position as the foremost governance institute in the country.
“We are partnering with various institutions to ensure that we have Masters of corporate governance at many of these places and we have signed various Memorandum of Understanding to ensure that we change our name from the present name to Chartered Governance Institute of Nigeria in line with the newest narrative globally.
“We would continue to preach the corporate governance language all over the nation to address many of these challenges that Nigeria is facing at every strata of government.
Prof. Femi Olufumilade, a former Social Democratic Party (SDP) presidential aspirant, says there is need to entrench corporate governance principles in various areas of governance in Nigeria.
Olufumilade gave the advice at the investiture ceremony of Mr Olufemi Sokan as the 11th Chairman, Lagos Chapter, Institute of Chartered Secretaries and Administrators of Nigeria(ICSAN ) on Saturday.
He said that the institute as the vortex of corporate governance must deploy governance tenets to tackle areas of corruption, insecurity and the economy.
Olufumilade advised the new chairman to provide result driven leadership as seen in his readiness to serve on the basis of international best practices and in sync with corporate governance principles.
He also charged the institute to leverage technology by integrating germane technology models in its operations and providing its offerings via the digital world to engender more participation and inclusiveness.
“Chartered secretaries are in vantage position to ensure probity, administrative reforms and accountability in every little and large corners devoid of corruption.
“ICSAN as a part of its contribution to good governance and social responsibility must make a study pushing anti corruption and available same to relevant authorities,” he said.
Olufumilade, who is also the Pioneer Director, Buratai Center for Contemporary Security Affairs, Igbinedion University, Okada in Edo, urged ICSAN to partner the university to widen the net of their training activities.
In his acceptance speech, Sokan, expressing gratitude at the privilege of leadership, said the time was now for the chapter to arise and drive the changes needed in the area of governance in both private and public sectors.
Sokan said that as a result, the working motto of his administration titled “Bracing up for the Journey” would be characterised by guidance, wisdom and courage in spite of all challenges that may be faced along the way.
“Our team is a balanced team of good gender mix, a good mix of in house company secretaries and practitioners with good mix of various educational backgrounds which complement our unity of focus and success,” he said.
He stated that his administration would build on the existing pillars of the chapter’s pursuits, introduce additional dimensions and focus on capacity enhancement of members, improved welfare, increased revenue, and better visibility.
“One key way we intend to achieve this is to organise governance rallies showing the importance of it in our society.
“Also, we plan to have a partnership scheme with the Lagos State Government in ensuring that selected secondary schools in the major local government areas are given lectures on corporate governance.
“This will help to drive home to the younger ones who are the future leaders of tomorrow that no society can achieve or attain greatness without good governance and proper strategies in place,” he said.
Lagos Chapter Immediate Past Chairman, Mrs Nkechi Anyimah, noted that the new chairman was not new to leadership and expressed her confidence in his ability to move the chapter and the institute to greater heights.
She said that her administration deserved kudos with some legacies such as annual retreat, leadership sessions, annual flagship magazine, first liaison office among other efforts it expended.
Rear Admiral Abolaji Orederu, Naval Director of Ships Design and Acquisition, confirmed the new chairman’s sterling leadership qualities and astute business acumen hence his emergence.
“I have no doubt that you are the man whom the cap fits as you bring your wealth of experience and administrative sagacity to bear as you pilot the chapter to greater heights.
“Be highly focused to ensure the smooth running of the chapter with tangible results because it is a rare privilege to serve and all service would be judged by posterity,” he said. (
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) says that its curriculum has been revised to adapt to the advancement in technology and other global operating systems.
The Institute made this known at its virtual launch of the ICSAN curriculum and presentation of new certificates on Friday.
The Institute's president, Mr. Gbenga Owokalade, said that the institute, in its devotion to promoting education and corporate governance principles, realized the need to stop using the previous syllabus.
He noted that ICSAN went through a rigorous process, analyzed the environment, identified relevant issues to keep members up to speed with essential fundamentals by upgrading their skills to ensure the success of the board and the organization.
Owokalade added that the institute's new certificate, which cannot be tampered with due to the security emblem, will bear the bearer's image and provide more information at a glance than the standard.
“The system is not like it used to be and we have to make sure we position our members correctly as events unfold.
“The challenges with the type of environment we find ourselves in have made us push back to create a certificate that meets the challenges and has what it takes to be a modern certificate,” he said.
Prof. Oluwole Adewunmi, Chairman of the ICSAN Education Committee, said that a review was an important regular activity that recognized institutions around the world committed to fulfilling their obligations.
He said the institute partnered with Chartered Secretaries and Administrators, UK, to prepare its members for the right knowledge and skills.
He pointed out that the previous curriculum, which was prepared locally, catered for local peculiarities with minimum international standards.
Adewunmi said that the revision of the curriculum was done significantly to adapt to the big changes in the global operating environment.
“As can be clearly gauged, we have broadened the scope of the institute's four core subjects from the old corporate governance to corporate governance: private, public and not-for-profit in the new, from corporate governance to corporate governance and risk management.
“The third and fourth are from financial management to financial management and strategy, and from corporate secretary to corporate secretary and board dynamics,” he said.
In his remarks, Professor Kabir Adeyemi, Vice Chancellor of Lead City University, Ibadan, said the new curriculum would improve the attitude and orientation of members in upholding the ethics of corporate governance and management towards higher value.
He said the rapid advancement in information technology and artificial intelligence, and its disruptive nature, make it imperative to upskill members.
“This has led the institute to adapt its curriculum to meet changes in the market and the profession as a whole, given the importance of curriculum development in education,” he said. (
The Secretary General of the Corporate Affairs Commission, CAC, Garba Abubakar, has said that the use of a common seal by companies is no longer mandatory.
Abubakar said this in a statement issued Thursday in Abuja, signed by Rasheed Mahe, CAC's Chief of Media, after declaring a one-day Customer Stakeholder Forum open.
Abubakar, who was represented by Abdulhakeem Mohammed, Chief Compliance Officer, listed a number of reform initiatives undertaken by the commission, pursuant to CAMA, 2020.
Abubakar said that the notable features of the new law include the waiver of company secretary appointment by private companies pursuant to Section 330 of the new law.
According to him, although the electronic signature has been introduced by the new law, a man can register a private company, adding that the merger of incorporated trustees with similar purposes is now possible under Section 849.
The Registrar General also said that the minimum share capital for private companies was increased to N100,000 and two million for public liability companies.
He said it was updated to two million, respectively, under subsection 2 of Section 27 of the act.
Abubakar said that small businesses and sole proprietorships can now hold statutory and annual general meetings abroad.
He said that the provisions of Sections 705 and 707 that introduce the registry of accredited bankruptcy administrator, liquidator, judicial administrator
o receiver-administrator stated that said professionals could only practice after obtaining the proper accreditation from the CAC.
Abubakar said that the key reforms contained in the new law also established that the combination of the position of president and chief executive in one and the same person is now prohibited for public companies.
It said the commission, in collaboration with its software vendor, was going to great lengths to adjust its processes in accordance with global best practices.
Abubakar reiterated his determination to continue initiating and implementing lasting institutional reforms tailored not only to the demands for ease of doing business, but also to establish a record that ranks as one of the top 10 in the world.
He said the commission had resolved to ensure the full digitization of its operations to provide more efficient and effective services in 2022.
In their separate goodwill messages, Dr. Balogun Abdulrasheed, President of the Institute of Chartered Accountants of Nigeria, ICAN, and the Acting Managing Director of the Abuja Business Agency, Shehu Abdulkadir, represented by Aisha Yusuf, applauded the initiatives and urged to the commission to endorse the tempo.
Along the same lines, representatives of the Nigerian Bar Association, NBA, Folarinwa Aluko, Tony Idoko and Clement Owowo, applauded the CAC for the commitment and highlighted the need for more frequent commitments.
They reaffirmed their commitment to partnering with the commission and described a client's ability to register and download the CAC registration certificate anywhere in the world as world-class.
Stakeholders, however, implored the commission to review its post-onboarding processes, as well as improve its customer engagement mechanism to be real-time.
Other speakers, who similarly applauded the commission's reform initiatives and charged it to keep the pace, included the representative of the president of the Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN.
The Nigerian News Agency reports that, in addition to the Abuja Forum, the commission has held Customer / Stakeholder forums in Kano, Port Harcourt, Lagos (Ikeja and Ikoyi) and Enugu, where it has Nodal offices.
Stakeholders on Saturday described the positive impact of the reforms being carried out by the Committee on Affairs (CAC) on the Nigerian economy as immeasurable.
In a statement signed by CAC's Main Media Unit, Mr. Rasheed Mahe summoned a representative sample of stakeholders during the quarterly CAC Customer / Stakeholder Forum held Thursday in Enugu, Enugu State.
Mahe added that Pat Ofili from the Nigerian Bar Association (NBA), Clement Egwu from the Nigerian National Accountants Association (A), Akpa Eme from the Nigerian Manufacturers Association (MAN) and Kamneme Njoku representing the Institute of Nigerian Chartered Secretaries and Administrators (ICSAN) urged CAC to continue reforms in accordance with world best practices.
According to them, the digitization of CCS operations certainly brought relief to customers who said in the past they had to wait up to six months or more to start a business or conduct searches manually.
Therefore, they praised commission staff for working overtime to approve registrations both after hours and on weekends and also charged them for keeping up.
However, the speakers urged the Commission to intensify its awareness-raising campaign and therefore called for more such forums to ensure effective participation.
While most speakers appreciated the way the Commission was changing, ICSAN representative Njokwu urged the CAC to revitalize its enforcement mechanism against non-compliant companies in accordance with the provisions of the law.
At the beginning of his comment, CAC Secretary General / Executive Director Alhaji Garba Abubakar highlighted the Commission's reform initiatives and reaffirmed his commitment to ensuring frequent engagement with stakeholders.
Abubakar, Compliance Representative, Abdulhakeem Mohammed, renewed his commitment to provide a vibrant Customer Relationship Management System with a view to improving customer service before the end of the first quarter of 2022.
Therefore, he urged clients / stakeholders to take advantage of the commission's online system to make their presentations and ensured that the CAC was making efforts to ensure continuous improvement of its processes.
The one-day forum featured a discussion segment on customer experiences while interacting with the Company Registration Portal (CRP) with a technical team available to directly address some of the challenges identified.