The Institute of Directors (IoD) Nigeria has identified the implementation of good corporate governance principles in every sector, as a solution to curb leadership crisis in the country.
President and Chairman of Governing Council, IoD Nigeria, Alhaji Ahmed Rufai Mohammed, noted this at the weekend, when members of the body met in Port Harcourt, Rivers State.
Mohammed , who is the 15th President of IoD, believes that things would be done the right way, when good corporate governance is enthroned by those at the helm of affairs in the country.
He noted that Nigeria’s economy is greatly supported by Small Medium enterprises (SMEs), saying that a good percentage of the businesses do not survive because of lack of corporate governance principles.
“Both public and private sectors should ensure corporate governance in their daily activities for the growth the economy. Good Corporate Governance is a panacea for business crisis in the country”, Mohammed stated.
The IoD Nigeria boss, lauded the step taken by relevant authorities to introduce National Code of Corporate Governance, which would ensure that policies are implemented in line with best and acceptable practices.
He said: “The IoD will be the main advocacy group in the promotion and implementation of good corporate governance. The IoD is a leading institute in the country interested in seeing progressive performance by those in position of authority”.
Mohammed also disclosed that greatest global challenge is the promotion and implementation of corporate governance, adding that the practice would make businesses to thrive.
Earlier in his welcome remarks, the Chairman, Port Harcourt Zone, IoD Nigeria, Mr. Chidi OKoroh, said the occasion afforded members an opportunity to interact and network as good citizens, which is a step towards business growth.