First things first: contrary to the belief of the majority of corporate Nigeria, Corporate Social Responsibility (CSR) is not fulfilled by corporate philanthropy. In fact, there is a clear difference between the two as succinctly stated by Peter Baines (a business consultant and philanthropist) as follows, “The differences between the two can be measured in…
read moreIt is no secret that Nigeria has been dealing with recession worse than ever before. The reasons for this are also well known to include the crashing oil prices, the weakening currency, the increasingly disturbing security challenges, and a host of other socio-political issues. Fortunately, in recent times, it has not been all bad news.…
read moreDeirdre LaPin is a development expert currently based in the US. She is an also Africanist scholar who has studied Nigeria for over 45 years. She lived in Nigeria for extended periods totalling 18 years and for ten years worked in and on the Niger Delta as a managing advisor on development to the oil industry…
read moreA handful of companies in corporate Nigeria have made the smart decision to publish annual sustainability reports. Of those that do not, some are hard pressed to see tangible benefits, others do not believe they have attained the right 'maturity', while the rest have unfortunately not caught on to the fact that responsible business is…
read moreCompanies impact poverty, and poverty, in turn, impacts them. Businesses, therefore, have an important role to play in eradicating poverty and supporting sustainable development. The benefit is mutual – stronger economies and stable societies create vast opportunities for growth in new markets. Transparency is a key success factor in private sector efforts towards eradicating poverty.…
read moreAuthor: Ebuka Onunaiwu Corruption in Nigeria has been described by many people, in many ways, with different adjectives. One prominent adjective that has however been consistently “systemic”. We often hear statements like, “Corruption in Nigeria is systemic”, or “Nigeria suffers from systemic corruption”. For many like me who have often wondered what this means, this…
read moreIssues of corporate governance continue to attract considerable attention nationally and internationally, especially with current global financial volatility. The ongoing global financial ‘tight spot’ has further reinforced the message that governance of organisations should always aim at protecting the interests of all stakeholders, including shareholders/ investors, employees, suppliers, customers, regulators, communities and the public. Corporate…
read moreIt is no secret that Nigeria has faced experienced some economic hardship, especially in recent times. In the Q3 of 2016, it was officially confirmed by the National Bureau of Statistics, that Nigeria was in a recession, with annual inflation of 17.1% in July, food inflation of 15.8%, and an economic contraction of 2.06%. This…
read moreAccording to a February 2015 McKinsey Report, companies with gender, ethnic and racial diversity are at least 15 percent more likely to experience greater financial returns – above their national industry medians. This is because they understand the significant relationship between profit and diversity. These forward-looking organisations also realise that it is often not enough to…
read moreMany people will have heard of the UN The contemporary interest in sustainability can be traced to the 1987 Brundtland Commission report, Millennium Development Goals, which have now been replaced by the global sustainable goals. The literary meaning of sustainability simply suggests longevity or the ability to survive under counteracting pressures. While longevity or resilience…
read moreThe concepts of accountability and transparency are central to the very concept of good governance. These two concepts go hand in hand, as you cannot fully adhere to the requirements of one without the other. The Institute of Fundraising in the UK defines accountability as being responsible to someone for actions taken; being able to…
read moreFor every product or service delivered by a business owner, the onus lies on the supplier to ensure the health and safety of the transaction to the consumer. This begins with safety in consumption of the product or service, all the way to disposal of the resulting waste, which has huge impacts on the environment.…
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