Managing Director and Chief Executive Officer of Guinness Nigeria, Mr Seni Adetu, has said that good governance and integrity will help boost Nigeria’s economic growth and development. He stated this while speaking at the 2nd Annual Christopher Kolade Lecture on Business Integrity organized by Convention of Business Integrity while speaking on “Business Case for Business Integrity” the Guinness Example.
According to him, good corporate governance practices along with Guinness Nigeria’s code of business conduct builds trust and entrenches integrity and transparency in business.
He noted: “To achieve our compliance agenda, we organise an annual Pathway of Pride training programme to address the specific compliance and ethical issues faced by our employees and the business in the Nigerian market. It is usually an interactive and inspiring forum for sharing experiences and ideas, and to help answer employees’ questions around the interpretation of our code and policies. This is one of the many ways we are fostering accountability, integrity and transparent business practices that are aligned with our responsibility as an integral part of Diageo – a global business.
Adetu said the firm holds everyone doing business with Guinness Nigeria – from suppliers to retailers – to the same standard of always doing the right thing. This has ensured that our employees and partners strive to uphold ethics and integrity every day in their jobs and in their everyday lives and dealings with people. Integrity means to be transparent and only good governance and business integrity can ensure the long-term growth of the Nigerian economy and prosperity of its people,” Adetu said.
Meanwhile, the Director General, Securities & Exchange Commission, Nigeria, Ms. Arunma Oteh at the occasion said “Integrity was about keeping ones word, adding that it alludes to the concept of purity and morality and that it was about doing the right thing especially in the business environment.”
She emphasized that Nigeria was actively involved in a transparent action that committed to ensuring that we embed integrity in the country and in the business environment.
The SEC boss stated that regulation and adequate enforcement will enhance compliance for business integrity while also stating that the cost of doing the wrong thing should be high to avoid a repetition. She suggested an overhaul of the judiciary system
Ms. Oteh cited some studies that showed that on average, integrity was associated with superior business performance. She also cited examples of firms and individuals that experience the converse when they engage in shoddy business practices. Also, she mentioned that adopting integrity was a sure way of improving Nigeria’s global competitiveness given our poor ranking in the just released World Economic Forum Global Competitiveness Report.
In his own assessment, Dr. Christopher Kolade on his part explained that to him, Integrity means always trying to do what is right and when in doubt about what the right thing is, it is avoidance of that which is wrong. It also means resisting what was wrong which he said was the most lacking among Nigerians as many of us want to keep quiet in the face of wrong doing. He advised that for those who practice business with Integrity and resist doing what is wrong, they should always ensure to stand up and condemn that which is wrong.
The Convention on Business Integrity was established in 1997 with the mission of promoting ethical business practices, transparency and fair competition in the private and public sector. For CBI, the Vision is to move society towards a state of visible zero tolerance for corruption. It is hoped that in time, we will reposition the idea that Nigerian businesses are fraudulent and instead foster local and international relationship that can lead to meaningful exchange.
Source : SunOnline