Mr Muhammad Ahmad, Chairman, Polaris Bank Limited, has charged the newly inaugurated sectoral groups of Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) to institutionalise corporate governance principles for improved national outcomes.

Ahmad gave the advice at the ICSAN virtual inauguration ceremony of strategic sectoral groups on Tuesday in Lagos.

He noted the key strategy of the institute to enhance the status of corporate governance.

According to him, its obligations as voice and leaders of corporate governance must be anchored on ethical standards.

He charged the Institute to further reinforce Nigeria’s corporate governance journey by entrenching the set 28 principles of the Nigerian Code of Corporate Governance 2018 (NCCG).

Ahmad further tasked ICSAN to assist in producing guidance notes, aimed at entrenching sound corporate governance principles in the public sector.

“Part of the roles contained in the NCCG task secretaries is to assist the board to ensure that the NCCG code is being followed.

“To be successful in a large group, it is best to function in smaller groups and I urge the newly inaugurated sectoral groups to follow the highlighted mandates of the president to see the success of the strategy.

“Breaking down into sectors provides the opportunity to hold people responsible, allows for stakeholders engagement, creation of policy briefs, seminars and conferences for the betterment of the country.

“As an institute, you are custodian of not just information or history of an entity but also corporate governance and institutionalising the structure, knowing that it’s a culture that would improve the country,” he said.

In his remarks, President, ICSAN, Mr Taiwo Owokalade, said the rationale behind the inauguration was to identify issues within the polity, and provide templates and guidelines to help government confront them more easily.

He said the 12 key sectors to be inaugurated are: insurance and pension; energy; digital economy; banking and financial sector; aviation; logistics; manufacturing; non for profit; academia; public and allied sector; marine and built industries.

The ICSAN President charged the groups to be focused, responsive and proactive on trending matters that affect the nation by formulating practical solutions, especially as it concerns chartered secretaries and governance professionals.

“The Nigerian economy needs corporate governance and we must leverage our voice to redirect those narratives to boost efficiency of operations and contribute to national development.

“Many members of our institute presently occupy very strategic positions and it’s a pleasure to showcase them, as there is hardly any sector that you won’t find chartered secretaries.

“We are an engine that powers the economy and drive corporate governance across board.

“In the last five years, so many corporate governance issues and sectors have come up and we must create working solutions and make the necessary impact as an institute.

“We plan to leverage on the intellectual capacity of these members to ensure our impact is felt on national development,” he said.