From Okwe Obi, Abuja.
The Federal government has inaugurated committee on public sector governance code, stating that the initiative would enable accountability of government resources and fulfill mandate of public sector entities.
Minister of Industry, Trade and Investment, Otumba Adeniyi Adebayo, who spoke yesterday in Abuja, explained that the scheme is expected to aid civil servants to operate in an ethical manner and ensure sustainability of government owned entities amongst others.
Members of the Technical Working are drawn from different sectors and it is Chaired by Barr Danladi Kifasi.
Adebayo urged the committee to deploy their wealth of experience and time in developing an acceptable code that will rebuild and reshape perspectives about the public sector that would lead to national development.
“With today’s event, Nigeria is taking a big stride in our efforts to be a preferred investment destination, as we promote and imbibe best practices in public governance, I am hopeful that very soon, given the influx of core professionals/practitioners and constant flow of talents from the corporate world to the political space and vis-versa, we will also be promoting and demonstrating higher standards of good governance practices in the political space over time,” he said.
Earlier, Executive Secretary, Financial Reporting Council of Nigeria [FRC] Amb, Shuaibu Ahmed said the proposed code is expected to be a set of guidelines that outlines the principles and practices that public sector organizations should follow to ensure they are well managed and accountable to the public they serve.
According to him, the technology is operational in united Kingdom, France, Germany, South Africa, South Korea and Singapore.
“In order to succeed in developing a befitting Nigerian Public Sector Governance Code, the council wishes to remind this esteemed audience of key critical success factors and major risk areas that members of the committee/group should be mindful of as it embarks on this important national assignment.
‘’The Following ten key areas should be critically addressed in the proposed code which includes, corruption, diversity/challenges, conflicts of interests, appointment and composition of the board of Directors as well as protecting the board Secretary.
“Others are appointment and role of External auditors, risk management framework, institutionalizing code of ethics and transparency as well as helping and promoting sustainability frameworks.
Responding on behalf of others, Chairman of TWG, Danladi Kifasi who expressed gratitude to the Minister and FRC for finding them worthy to do the job promised that the group will ensure that no stone will be left unturned to give their best to achieve success.