Continued from the previous post
The SCGN Advantage: Building Stronger Institutions
The Society for Corporate Governance Nigeria (SCGN) has played a crucial role in shaping modern governance practices. Established in 2005, SCGN works to build awareness, promote ethical leadership, and strengthen institutional integrity across sectors.
Key Contributions and Benefits of SCGN:
– Policy Development: SCGN provides input into national governance frameworks, including the Nigerian Code of Corporate Governance (2018).
– Capacity Building: Through its training and certification programs, it equips directors, company secretaries, and regulators with the skills to implement best practices.
– Thought Leadership: The society drives research and public dialogue on emerging governance issues, bridging the gap between regulation and practice.
– Ethical Standards: By promoting transparency and accountability, SCGN helps organizations gain investor confidence and sustain long-term growth.
Bridging the Divide: How Nigeria Can Get It Right
1. Strengthen Public Governance: Reform should start with government accountability, adherence to the rule of law, and protection for whistleblowers.
2. Enforce and Unify Governance Codes: The FRC should revive and strengthen the unified code to create a single, enforceable framework.
3. Independent Judiciary: Creating special courts for corporate offenses would accelerate case resolution.
4. Protect Private Capital: Investor confidence depends on transparency and disclosure.
5. Promote Inclusive Participation: Financial literacy programs for minority shareholders and gender-diverse boards can increase accountability.
Conclusion: The Future of Corporate Governance in Nigeria
Nigeria’s journey toward effective corporate governance has been gradual but steady. The building blocks are in place—robust laws, active regulatory agencies, and organizations like SCGN championing reform. With firms like Havivah Trust Consult Limited driving operational excellence and compliance solutions, Nigerian organizations can bridge the governance gap, turning principles into performance and policies into prosperity.
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