ICSAN, BoI partner on corporate governance awareness

To ensure sustainability and economic growth, Institute of Chattered Secretaries and Administrators of Nigeria (ICSAN), Lagos chapter, has called for the need to enlighten firms on corporate governance practices.

The group stated this during a courtesy visit to Bank of Industry (BoI) headquarters in Lagos.

Chairman ICSAN Lagos Chapter, Francis Olawale, said both organisations share same passion noting that for firms to thrive and remain sustainable, there is need for proper structure.

“We believe we are partners in progress as we are aware of the mandate of the bank to provide financial assistance for the establishment of large, medium and small projects as well as the expansion, diversification, modernisation and rehabilitation of existing enterprise.

“For these establishments to thrive and remain sustainable on the long run for the benefit of the economy there is dire need for proper corporate governance at various scales which is an area our institute can partner with you” Olawale said.

He explained that ICSAN Lagos chapter ensures good ethical practices within organisations through trainings, adding that members are trained in company and business law, finance strategy and operations management.

Managing Director, BoI, Olukayode Pitan, assured ICSAN of their support in promoting the trainings on proper corporate governance adding that it could speed up repayment of loans.

“If you have the kind of seminars to enlighten the public on some of your functions and activities, we can assist in financing some of them because proper corporate governance leads to repayment of loans. We know the importance of this education because when there are no controls or when regulations are flouted, things could go wrong”, he added.