Business

Adopt corporate governance, Edun charges SMEs

First female Managing Director of First City Monument Bank (FCMB), Mrs. Yemisi Edun, has charged corporate organisations, particularly micro-businesses, to adopt sound corporate governance practices in order to stand the test of time.

 

She made this call as the guest speaker at the inaugural Corporate Governance and Enterprise Development Conference organised by H. Michael & Co in Lagos. The theme of the conference was ‘Corporate Governance Best Practices: Imperatives for Business Sustainability.’

 

Addressing the conference’s physical and online audience, the bank chief noted that no business could stand the test of time without sound corporate governance practices. She made it clear that micro-businesses also require the same to achieve optimum performance and sustainable growth.

 

So, the bank chief charged small businesses to imbibe corporate governance practices. Edun listed the long-term benefits of sound corporate governance practice as strong brand equity, decreasing risks, reducing capital cost, and enhanced performance.

 

She added that only businesses with solid corporate governance practices could stimulate economic growth and enhance innovation while protecting communities and the environment in their daily activities. In his keynote address, Professor Sunday Owolabi, a former Deputy Vice-Chancellor, Babcock University, simplified corporate governance to mean “doing the right when no one is looking.”

 

He affirmed the advice of the managing director of FCMB to businesses to always do the right thing all the time, even when they seem to be at a disadvantage. Professor Owolabi urged businesses to self-regulate and embrace full disclosure and accountability.

 

They are the building blocks of enduring institutions that outlive their founders.

 

He also advised the Financial Reporting Council of Nigeria to consolidate the country’s multi-sector codes of corporate governance into a single omnibus document for corporations in Nigeria.

 

The conference convener, Dr Adeyinka Hassan, a notable enterprise governance advocate, noted that more than 100 companies in Nigeria have fizzled out due to corporate failures.

 

According to him, “there are companies we knew when we were growing up that are no more. They are all gone due to lack of a wellstructured board and lack of good corporate governance.”

 

He stated: “No matter how small a business is or how fast a business is growing, there are certain things that must be done to sustain a business beyond the life of the owner. And that is where corporate governance comes. We need to preach it to everyone.”

 

TRY IT TONIGHT!!! ---

 

Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...

   

CLICK HERE FOR FULL DETAILS.

 

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica