…As governor Sani says, the Code will further boost investment confidence and securing goodwill NNDC has built over the years
From Noah Ebije, Kaduna
New Nigeria Development Company Limited (NNDC) on Thursday formally launched its Code of Ethics and Business Conduct in Kaduna to instill in all staff and stakeholders of the Company, a legal, moral, and ethical cultural values in their daily conduct.
The Code will enable the Company to reward good behaviour, and sanction misconduct or any noncompliance within the Company.
The Company is jointly owned by the Governments of the 19 Northern States of Nigeria.
In his message at the occasion, the Chairman, Board of Directors of NNDC, Malam Tanimu Yakubu, said’ “The purpose of the Code is to commit NNDC Ltd and its subsidiaries to the highest standards of decent behaviour and to instill in all stakeholders of the Company, legal, lawful, moral, and ethical cultural values in their daily conduct, to reward good behaviour, and sanction misconduct or any noncompliance within the Company.
“To further drive our successes, we introduced and used the NNDC Code of Ethics and Business Conduct as our guidebook for putting our values into practice. We set out a clear standard of conduct to ensure that we always make the right choices, providing the appropriate framework to safeguard the Company’s operations and sustainability.
“The Code was conceived on the premise of ensuring that we hold ourselves accountable and how we do business to a high standard”.
“The Board of Directors is upgrading the policy by instituting a Corporate Compliance and Ethics Program to ensure abidance with subsisting laws, regulations, and procedures to further propel the Company on the path of responsible operations.
“Pursuant to the mandate of the Board, the NNDC is irrevocably committed to delivering quality outputs in all its varied offerings through its subsidiary companies. It shall continually demonstrate ethical conduct and show unalloyed fidelity to extant laws, regulations, policies, and operational standards. In its operations, it will give currency to such universal ideals as climate change, environmental concerns, diversity, moral values, competition, personal data security, as well as stakeholder expectations.
“These considerations shall constitute the moral fiber that entrenches our espoused values which will be pivotal to a profound compliance and ethics culture that runs deep across the NNDC Group.
“As one of the leading regional development finance institutions in the country, we recognize that fostering an inclusive work environment is an imperative for the development of our region”.
The Kaduna State governor, Uba Sani in his keynote address through the Secretary to the State government,
Dr. Abdulkadir Muazu Meyere
stated that as the gateway and hub of the Northern Region, the significance of Kaduna State for NNDC is much more than being a host.
Governor Sani said that the launch of the Code was a remarkable step in further boosting investment confidence and securing the timeless goodwill NNDC has built over the years. He restated Kaduna State’s timeless commitment to continuing to partner with the NNDC for the benefit of the region and the nation at large.
The Governor further emphasized that the Kaduna State Government will continue to provide world class infrastructure that is conducive for business activities, as well as local and international facilitation.
He further said that the government has many more initiatives in different sectors of the economy that would complement the activities of NNDC, including agriculture, energy, and human capital development.
The Governor congratulated the NNDC Group and prayed that the launch of the code would further accelerate the synergy already built by NNDC across wider areas of business.
The NNDC Group Managing Director, Malam Shehu Mai-Bornu, stated that, “the development of the new NNDC Code of Ethics and Business Conduct, recently approved by the Board of Directors, captures the desire to update our business practices and ensure adherence to best practices of corporate governance. It is essential that our core values of Professionalism, Integrity, Efficiency & Effectiveness, Positive Corporate Social Responsibility, Innovativeness, and Unity of Purpose as well as compliance with applicable laws and regulations are embedded in our corporate culture to become the basis of our corporate behaviour. This must be evident in our dealings with all stakeholders”.
Malam Mai-Bornu, further stated that “Our commitment to adhere to the new Code will assist us in keeping up with the best practices required in our quest to build a respected and successful NNDC”.
Before the public launch, training sessions were conducted for NNDC staff to familiarize them with the Code of Ethics to enable them to implement the principles and guideline in their daily activities.
The Secretary to the Gombe State Government, Professor Ibrahim Abubakar Njodi, in his remarks said, “the wholesome commitment of all the Secretaries to the Government of the Northern States to support the Board in re-injecting vigor and vitality in the activities of the Company.
Njodi urged the leadership, staff and key stakeholders of the NNDC to do more in redefining the investment drive of the Company, “through commitment to duty, adherence to ethical corporate practices and innovativeness in applying global best practice standards in all its endeavors”.
The Chairman of Jaiz Bank Plc, Mallam Muhammed Mustapha Bintube, an alumnus of NNDC noted that, “The New Nigeria Development Company (NNDC) Limited was established in 1949 under the name Northern Regional Production and Development Board (NRPDB).
“It was then a statutory corporation specifically established to contribute to the economic and social development of the Northern Region of Nigeria.
“At independence in 1960, its name was changed to Northern Nigeria Development Corporation. In 1968, the Corporation was transformed and incorporated into a limited liability company thus assumed its present name New Nigeria Development Company (NNDC) Limited”.