Economy Politics

Put Integrity at the forefront, CBI charges Alliance

Put Integrity at the forefront, CBI charges Alliance
Written by Maritime First

Integrity Alliance should strategically be placed at the forefront of supporting reforms, the Convention on Business Integrity (CBI) has charged.

CBI, the group implementers of Business Action Against Corruption (BAAC), Nigeria project made this known while addressing the Integrity Alliance Steering Committee.

The group also enjoined the committee to build the collective voice and action required to improve transparency, accountability and operational efficiency at Nigerian Ports as well as prioritising cost-efficiency.

Inaugurating the steering committee on Tuesday, in Lagos,  Emmanuel Bosah, Programme Director, CBI stated that the aim of the BAAC project is to use collective action to improve corporate governance and reduce corruption in the Nigerian business environment.

According to him, “Based on this understanding therefore, the task ahead and the purpose for the Integrity Alliance is quite straight forward.

“We need to strategically place the Integrity Alliance being formed today at the forefront of supporting reforms and building the collective voice and action required to improve transparency, accountability and operational efficiency at our Ports,  prioritising especially cost-efficiency.

Speaking further he said, “The programme also supports practical initiatives, which promote good governance and improve the investment climate.

”We achieve this through working with industry at strengthening self-regulation of business, its compliance with government regulation, stakeholder activism and a public vigilance over the arrangement.

“We also build on existing relationships with the Nigeria Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) to build a partnership to strengthen corporate leadership practices by raising standards of board leadership of directors of listed companies in Nigeria to review their fiduciary responsibilities, and meet stakeholder expectations.

Also read: INTEGRITY ALLIANCE: Shippers council urges stakeholders to embrace port reforms

“The aim is to define a set of business principles, reporting guidelines and system of compliance incentives jointly with directors of listed companies in Nigeria.

“Today, we mark another important milestone in our efforts to promote and support positive transformation at Nigeria’s ports.

“Over the years, as you all know too well, users and operators at Nigeria’s ports have faced varying degrees of lingering challenges and administrative bottlenecks, many of which have truly hampered the ease of doing business.

“From Infrastructure challenges, regulatory inconsistencies, and the duplications of roles and overlapping functions by a myriad of government agencies. These are all making work at Nigeria’s ports difficult and expensive.

“The Integrity Alliance is designed as an instrument for bringing together like-minded individuals in the Private sector to achieve this mission.

“It will not be easy because the  Alliance members will be responsible for ensuring that members not only sign up to the Alliance’s Code of Conduct, but comply as strictly as possible with that Code of Conduct.

“The benefits of this Alliance are however abounding.

*Specifically and significantly,   it creates the opportunity for increased engagement and relationship strengthening with relevant ports and regulatory authorities to address challenges and simultaneously deliver the mandate of the Alliance.

“The plan for this Alliance is that over time, your collective efforts and successes will enable port users to demand,   track,   and ensure greater compliance in Nigerian ports, help strengthen government capacity to establish compliance systems, and strengthen collaboration between business, government and civil society.

“At CBI and MACN, we firmly subscribe to the thinking that the coming together of key stakeholders like yourselves to drive and reposition the approach to efficiency at the ports is a game changer that will set the standard and template for other sectors to benchmark,” he submitted.

 

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Maritime First