Ejimofor warns against unchecked poor corporate governance

Posted by News Express | 7 August 2015 | 3,049 times

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Executive Secretary, Nigeria-South Africa Chamber of Commerce, Mr. Iyke Ejimofor, on Thursday urged relevant public institutions in the country to ensure adherence to corporate governance ethics.

He told the News Agency of Nigeria (NAN) in Lagos that more business outfits in Nigeria would leapfrog their earnings even under the prevailing economic hardships through devotion to business ethics.

Ejimofor said: “Corporations grow easily when their governance process is in tune with ensuring integrity and accountability.

“There is the need also to give more education to those in the corporate world on the importance of adopting good commercial governance strategies in the day-to-day running of their firms. Sound corporate governance is imperative for the survival of any business.”

Ejimofor noted that businesses that were not imbibing modern ideas of managing their enterprise would not experience the much-needed growth in their stocks value.

“Exploitation of the social media and other modern platforms for business productivity and expansion will bring about increased returns on investment,” he said.

Ejimofor urged entrepreneurs to ensure that they patronised only banks that had a good track record in financial accounting.

He added that financial institutions that offer free consultancy services to their customers were operating in tune with the principles of good corporate governance.

“To look out for a company’s corporate governance track record is essential in this age of depression and corporate bankruptcy,” he said. (NAN)

Source: News Express

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