By Olayinka Ajayi

A former Nigerian High Commissioner to the United Kingdom (UK), Dr. Christopher Kolade, has stressed the need for corporate governance.

Kolade gave the advice  while speaking at the 2015 Roundtable on Corporate Governance organized by the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) held at the Civic Centre, Victoria Island Lagos.

The roundtable was held under the theme: “A case for Corporate Governance Audit for Nigerian Public Companies”.

According to Kolade, who was the Chairman of the occasion, “Good corporate governance has a role to play in the success of any company or business enterprise”, adding that “the theme of the Roundtable is to find out whether we conform to the letter and spirit of corporate governance”.

The guest speaker at the roundtable, who is also the Head, Strategy and Entrepreneurial Department, Lagos Business School, Dr. Chris Ogbechie, stated that corporate governance involved a set of relationship between a company’s management, its board, shareholders and other stakeholders,

“Corporate governance failures damage reputations undermine and erode confidence. Strong Corporate Governance is part of a successful business strategy and good governance can enhance an organisation’s competitive position; assist in retaining superior employees; attract top notch directors and contribute to long term improved financial performance”, Ogbechie said.

The Vice- President of the Institute, Dr. Nat Ofo, who spoke to newsmen shortly after the event, said the way out of the Nigeria’s economic doldrums is for government to do the right thing at the right time.