Business
THE Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has urged all parties involved in the ongoing minimum wage negotiations to find a middle ground with the best consideration for national interest.
Mrs Funmi Ekundayo, the President of ICSAN, gave this advice during a presidential parley to commemorate her one year in office as president and chairman of the governing council of the institute in Lagos on Thursday.
Ekundayo noted that to progress on the matter, concerned parties must be realistic with their expectations and come up with a figure that would be sustainable for the long term.
“While not proposing any figure, dialogue is what will give the best possible solution to where we are going.
“Raising a humongous figure that is not sustainable has dangers for the economy and may cause inflation, which is particularly not good for the end users, which is you and I as consumers.
“We advocate a sustainable minimum wage that will not lead to loss of jobs, one that is good enough to cater to the high cost of living and would not at the same time lead to other detrimental socio-economic issues,” she said.
Mr Babatunde Okuneye, Registrar, ICSAN, Mrs Uto Ukpanah, Vice President, ICSAN, Mrs Funmi Ekundayo, President, ICSAN, Mr Francis Olawale, Honorary Treasurer, ICSAN, and Mrs Nkechi Onyenso, Chairman, Publicity and Advocacy Committee, ICSAN, during the Presidential Press Parley commemorating the president’s one year in office
Speaking on her tenure as president of ICSAN over the past year, Ekundayo reaffirmed her resolve to deepen the implementation of sound corporate governance across all sectors of the Nigerian economy.
She noted that the institute had recorded modest but significant achievements, such as the groundbreaking ceremony of its official secretariat and efforts to deepen corporate governance penetration in the northern region of the country.
The ICSAN president added that the institute brokered partnerships with various professional bodies, tertiary institutions, and organisations across public and private sectors to further entrench good governance in the country.
She also mentioned that the bill to change the institute’s name to the Corporate Governance Institute of Nigeria had gained momentum and was about to enter its second reading.
“The last year has been one with a tighter economic trajectory, and as an institute, we are not insulated from what goes on, but we have done our best to turn around our deficit position in finances to weather the storm of the general economic climate.
“On our plans to build a modest secretariat, while we adopt the self-funding model, we crave the support of federal and state governments and well-meaning corporate entities that know the importance of good corporate governance to lend us the much-required financial support.
“I continue to laud the principal office holders, governing council, and the entire secretariat, members and stakeholders for the significant, remarkable progress recorded in the last year,” she said.
Ekundayo also stressed the need to tackle the country’s unemployment issues by further diversifying its economy, enhancing the agriculture and manufacturing sectors, and improving infrastructural development.
She called for the provision of requisite support for start-up businesses, from funding to mentorship and business guidelines, to help them put the right structures in place to thrive.
The ICSAN president also advocated tax rebates for businesses to spur investments and more training to enhance digital economy development.
On ways to drive the development of public administration in Nigeria, Ekundayo said the entrenchment of sound corporate governance principles was critical.
She noted that her visits to ministries, departments, and agencies to propagate the principles of corporate governance showed that government institutions were very receptive to its adoption.
“Once we have stronger institutions as a nation, there is no stopping us, and we must do whatever it takes to institutionalise good reforms.
“Merit-based appointments are key in the civil service and we encourage the government to continue to strengthen anti-corruption agencies and anti-corruption laws,” she said. (NAN)
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July 12, 2024
Tags: minimum wage
