Solabomi Okonkwo, Chief Executive Officer of CoreEXM, says corporate governance is crucial to the growth of both state-owned enterprises (SOEs) and private companies in Nigeria.
Speaking at the 5th edition of the Brand Journalists Association of Nigeria (BJAN) annual brands and marketing conference recently held in Enugu, Okonkwo also said cultural and social factors are vital for greater public accountability.
The conference had as its theme, “Corporate governance, Public Accountability, and the Challenge of Repositioning Nigeria.”
In her presentation titled: “Aligning Global Best Practices with Nigerian Corporate Governance Standards,” Okonkwo delved into current realities facing businesses with special attention on applying code of ethics in the workplace.
“In my opinion, for a code of ethics to be global, it must entail some generalist as well as generic attributes,” she said.
“An international code of business ethics must traverse countries, cultures, race and environment.
“I have come to appreciate the fact that societies are complex and dynamic in nature.
“This births the need to conduct proper stakeholder analysis achievable only through effective communication methods, while managing expectations.”
Okonkwo further explored principles that should be adopted in organisations across Nigeria to drive change in line with global best practices.
“Transparency, good order and strong governance are picking up in Nigeria’s public and private sectors.
Our leaders, should continually promote the importance these principles so that they become mainstream in Nigeria,” she concluded.
BJAN, the umbrella body for journalists in the Marketing Communications sector in Nigeria, converges seasoned industry analysts and stakeholders to discuss emerging issues facing the marketing industry and Nigeria as a whole.