From Left to Right: Alh. Shuaibu Idris, mni, FIoD, Chairman, IoDCCG; and Honourable Chukwuemeka Nwajiuba, Minister of State for Education
The Chairman, IoD Centre for Corporate Governance, Alhaji Shuaibu Idris, mni, FIoD on 24th February, 2022 led Members of the Board of Governors and Management to a courtesy visit to Federal Ministry of Education at its office complex in Abuja. The team that received the IoDCCG’s team was led by Honourable Chukwuemeka Nwajiuba, the Minister of State for Education.
After an introduction of Federal Ministry of Education team by the Hon. Minister, Honourable Chukwuemeka Nwajiuba, and the IoDCCG team by the Board Chairman, Alhaji Shuaibu Idris, mni, the Chairman proceeded with his presentation by first thanking the Hon.Minister for the warm reception accorded to the IoDCCG team and making out time for the meeting despite his busy schedule. The Chairman stated that this goes further to demonstrate the Minister’s commitment to Corporate Governance and his firm believe in the good work of the Centre.
The Chairman gave a background brief on the birth of IoDCCG by its parent partners (IoD, SEC and CAC) who haven realised the need to entrench good Corporate Governance practices in Nigeria came together to establish the Centre. This need, he said led to IoDCCG we have today, an organization that has championed the promotion of good Corporate Governance in Nigeria since its establishment more than fifteen years ago, and continue to render high quality Corporate Governance services and trainings, including, Corporate Governance services/Audit, Board Induction and Evaluation and the latest been the Whistle Blower Service framework, all in a bid to entrench global best practices in all institutions in Nigeria.
He hinted that the composition of IoDCCG Board cut across Institute of Directors (IoD) Securities & Exchange Commission (SEC) and Corporate Affairs Commission (CAC), and upon consultation, the Centre expanded the Board to have the Nigerian Stock Exchange (NSE), the Chartered Institute of Bankers (CIBN) and the Nigerian Association of Chamber of Commerce & Industry, Mines and Agriculture (NACCIMA).
Among other important issues presented to the Hon. Minister and discussed at the meeting were;
- The forthcoming Maiden Edition of National Corporate Governance Summit and hoping that the Federal Ministry Education will partner and support the initiative financially as well as deliver a paper at the summit as a special guest.
- Request for conduct of Corporate Governance Services for the Parastatals and Agencies under the purview of the Ministry as well as Board Induction and Evaluation.
- Request for partnership for the establishment of Ethic and Integrity Club in Government Secondary Schools and Tertiary Institutions in Nigeria.
- Request for approval that all Parastatals and Agencies under the Ministry’s purview register and become IoDCCG’s Institutional Corporate Members.
- Partnership with the Ministry on production and publication of Corporate Governance Compendium.
The Hon. Minister, Honourable Chukwuemeka Nwajiuba in his response thanked the IoDCCG team for identifying with the Ministry, stating that he was particularly excited in receiving the IoDCCG’s team not only because he is a member of IoD but a strong believer of ethics and ethical conduct which are the hallmark of good Corporate Governance. He reiterated the need for public sector code of Corporate Governance which he is sure will deepen good governance in public organisations.
He informed the visiting IoDCCG team that the Ministry will support the National Corporate Governance Summit and pledge his support for the initiative. On the establishment of ethics and integrity club in unity schools and tertiary institutions, he received the proposal with excitement and directed the respective Directors present in the meeting to follow up with IoDCCG towards the implementation of the initiative. He expressed worries over increasing civil and social misconduct in the society and wondered why bad behaviours are not adequately rewarded with punishment.
In his closing remarks, the Hon. Minister expressed deep appreciation with the IoDCCG’s visit and challenged the respective Directors to take up all the major issues raised during the meeting for implementation.
The visit was wrapped up with presentation of journals produced by IoDCCG to the Hon. Minister of State, Honourable Chukwuemeka Nwajiuba.