Osunkeye, Teriba urge govt to create enabling business environment

Chief Olusegun OsunkeyeTHE President for the Society for Corporate Governance Nigeria (SCGN), Olusegun Osunkeye, has urged the government to create an enabling environment in the energy, transportation and financial sectors that will grow the economy.

Osunkeye, who spoke after a breakfast meeting organised by the society in Lagos, said there was the need to refine crude oil in Nigeria. “It will propel the economy. It will enable small and medium enterprises to grow.

The reason is to develop best corporate governance amid international best practices for organization, both private and public sector.”

The Chief Executive Officer (CEO), Economic Associates, Dr. Ayo Teriba said “unless there is an effective and efficient cargo rail system in place, manufacturers will find it difficult and agriculture will remain uncompetitive.

The Managing Director and Chief Executive Officer of the Nigerian Deposit Insurance Corporation (NDIC), Umaru Ibrahim said that there was a growing awareness all over the world to ensure that there is an effective corporate governance structure that would ensure the sustenance and the success of the financial institutions.

“For us as supervisors and regulators, we need to continuously monitor to ensure that the right things are put in place. Dr Fabian Ajogwu (SAN), a board member of the society, said NDIC as the key regulator was looking at supervision of banks to make sure that they don’t fail.

“In that area, we are looking at banks not over concentrating on one sector, either power sector or health sector or state government he said.in order to diversify risks,”

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