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FEDERAL GOVERNMENT OF NIGERIA RESTATES COMMITMENT TO CORPORATE GOVERNANCE.
OFFICE OF THE HEAD OF THE CIVIL SERVICE OF THE FEDERATION
FG RESTATES COMMITMENT TO CORPORATE GOVERNANCE
The Federal Government has restated its commitment to corporate governance.
Vice President Namadi Sambo stated this at the Institute of Directors (IoD) 2014 Directors Conference with the theme: “Imperatives of Good Governance in Promoting Investment Opportunities”, held in Abuja.
Represented at the occasion by the Permanent Secretary Common Services Office in the Office of the Head of the Civil Service of the Federation Dr. Tope Ajakaiye, Vice President Namadi Sambo said further that the concept of good governance centers on responsibility of governments at all levels- federal, state and local to meet the needs of the masses.
He said that the private sector also has the responsibility to partner with the various government agencies in ensuring that this noble objective is achieved.
To this end he said, “ I am glad to inform you that this administration considers as very important the task of providing the enabling environment for business to thrive in Nigeria, our guiding principles in the effort to promote the concept of good governancehave been accountability, transparency, rule of law, responsiveness, equitability and inclusiveness. I am delighted to tell you that the stability in the Nigerian market has resulted into various partnerships with foreign investors in various sectors of the economy”.
The reform that is ongoing using Financial Reporting Council (FRC) as a vehicle of compliance he stressed further is one of the testimonies that the present administration is serious about the desire to transform all areas of our economic activities, adding that the essence of these reforms and compliance is to attract more investments into the Nigerian business environment.
Earlier, the President and Chairman of Council, Institute of Directors Nigeria, Chief (Mrs.) Eniola Fadayomi had traced the need to entrench good corporate governance and best practices in Nigeria particularly with focus on responsibility, integrity, accountability, transparency, self-regulation and effective internal control systems as one of the major destinations for foreign direct investment