Judiciary
JUSTICE Monica Dongban-Mensem, President Court of Appeal, has urged the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to intensify efforts to raise professional standards and enhance economic growth.
Dongban-Mensem said this when members of the association led by its President, Mr Chimezie Ihekweazu, SAN, visited her on Thursday in Abuja.
The News Agency of Nigeria (NAN) reports that BRIPAN is a group of professionals that provides solutions to underperforming businesses and supports business rescue and growth.
According to Dongban-Mensem, professional associations like BRIPAN are critical in aligning national practices with international standards.
She said there was a pressing need for Nigeria to improve its economic activities by adhering to global standards.
“If we do not address these issues properly and act in accordance with national and international standards, our economy will never rise.
“No economic activity is too small to be captured by the vigilant eyes of the international community,” she said.
Dongban-Mensem underscored the importance of professional standards in gaining the international community’s confidence, which often views Nigeria with scepticism due to perceived laxity in professional conduct and training.
” They think we are not serious people, we compromise so many things, we do not care to train ourselves actively to bring our economic development up to international standards.
” So your association has a vital role in this,” she said.
The president commended BRIPAN for its sustained efforts since its establishment in 1994, saying that the association’s work was vital for economic stability.
She also commendwd BRIPAN for extending its activities beyond major cities like Lagos and addressing economic challenges nationwide.
“Your outreach to various groups and economic activities is essential for solving the problems that hinder our economic progress,” she said.
On the judiciary’s role in economic development, the president acknowledged the need for specialised training to handle complex commercial matters promptly.
Dongban-Mensem assured BRIPAN that the judiciary was willing to collaborate and learn from experts to improve the handling of cases that impact the economy.
“We are amenable to learning and improving our skills to address issues properly and promptly in the courts,” She said.
The president also urged BRIPAN to engage with the heads of courts to formulate policy statements that would guide future actions.
She said such policies would benefit the judiciary and the broader economic landscape.
“We are honoured to cooperate with you to ensure that your interests are addressed properly,” Dongban-Mensem said.
Earlier, the president of BRIPAN presented the direction of Insolvency practice for the Court of Appeal to its president.
While making the presentation, Ihekweazu called for enhanced collaboration with the court to raise professional standards to support Nigeria’s economic growth.
He acknowledged the vital role of adequate training for members and regulatory bodies in ensuring professional excellence and urged necessary reforms within Nigeria’s legal framework.
“One of BRIPAN’s key achievements has been training over 80 senior members of staff from the Corporate Affairs Commission (CAC? and the Legal Department of the Nigeria Deposit Insurance Corporation (NDIC).
“Additionally, the association is currently preparing to train 47 senior management staff from the Asset Management Corporation of Nigeria.
“These initiatives reflect BRIPAN’s commitment to equipping professionals with the skills needed to navigate the evolving landscape of insolvency practice,” he said.
The association president said BRIPAN was dedicated to fostering cooperation between the judiciary and professional bodies.
“Particularly in light of recent legislative changes that have expanded insolvency practices to include company administration,” he said.
Ihekweazu appealed that insolvency processes and proceedings before the court be given special status and accelerated hearing due to its extraordinary economic interest in our nation.
NAN reports that Mr Amala Umeike, Co-Chair of the Special Projects Committee, and Mr Okorie Kalu, second deputy vice-president, were present during the visit. (NAN)
A.I
June 28, 2024 @ 07:08 GMT
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