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Highlights from the 5th Annual Christopher Kolade Lecture on Business Integrity

Highlights from the 5th Annual Christopher Kolade Lecture on Business Integrity

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The 5th edition of the annual Christopher Kolade Lecture on Business Integrity took place on the 29th of June, 2017 at the Landmark Events Center, Lekki. The event which was themed “Prevention is better than cure” was attended by captains of industry from the private sector, as well and key figures from the public sector.

 

Corruption: An Albatross Around Our Necks

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A loaf of bread placed on a table in a room without preservation gets mouldy within 48 hours. Options available to us are to cut off the moldy portion and still leave it on the table or keep the bread in the fridge ab initio. The temperature in the fridge provides a conducive environment that is kept constant which preserves the whole bread. This process demands extra effort from the provision of a fridge to the constant power supply that creates that enabling environment/temperature that preserves the whole bread. It therefore follows that decay (and thus corruption) happens naturally, except definite/specific interventions are introduced to control it. Continue Reading

The 5th Annual Christopher Kolade Lecture on Business Integrity!

The 5th Annual Christopher Kolade Lecture on Business Integrity!

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The 2008 global financial crisis re-emphasized the importance of compliance and risk management but perhaps a tale of the fall of Britain’s Oldest Bank, Barings, could further buttress the point. Even though, the fall of Lehman Brothers and numerous banking scandals after Barings by far incurred losses of greater magnitude, there remains a story to be told with the fall of Barings Bank hence the apt theme for this year’s event:

“Prevention is better than cure, even on the issue of Corruption”

Special Guest of Honor

Guest of Honor

Keynote Speaker

Nick Leeson

Nick Leeson, the infamous ‘rogue trader’ at Barings Bank whose dealings led to the collapse of one of Britain’s oldest Banks.
The fall of Barings was a wake-up call for financial Institutions all over the world. 

 

Thursday, 29th June, 2017
Time: 17h00

________________________________________
D VENUE-
WATER CORPORATION DRIVE, OFF LIGALI AYORINDE STREET, LEKKI, LAGOS (ON THE SAME STREET WITH LANDMARK EVENTS CENTRE)

For Confirmations please contact: YINKA JOHNSON –yinka.johnson@cbinigeria.com; CYNTHIA APKOMUDIARE – Cynthia.akpomudiare@cbinigeria.com- +234 8182003952, +234 8023012704

A Strategic Approach Against Corruption

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In this first two years of the Buhari presidency, the government has basically tried to defeat corruption through public mobilisation, and enforcement by the Economic and Financial Crimes Commission (EFCC) and to a lesser extent, the Police, Department of State Security (DSS), Independent Corrupt Practices Commission (ICPC) and the Office of the Attorney-General of the Federation (AGF).

When the government constituted a Presidential Advisory Committee on Anti-Corruption (PACAC) chaired by Professor Itse Sagay (SAN) with another Professor, Bola Owasanoye as Executive Secretary, the conception may have been to use this committee as an intellectual and strategic anchor for the anti-corruption effort. Indeed I am aware of some of the quiet efforts of Owasanoye and others on the committee, but its loudest public advocacy led by its chairman has often complemented the information-based anti-corruption rhetoric of the EFCC and other government officials and agencies rather than a strategic and institutional approach to combating corruption, which is where I believe the focus should be. Two years on, it is now time to review the government’s anti-corruption strategy, and adopt a more fundamental and enduring approach. Continue Reading

Time to Clean the Augean Stables in the Private Sector

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The ravages of bribery and corruption is a topic that has obviously attracted a lot of scholarly comments and opinions but very little action. This short article is aimed at examining the claims that corruption risks in the corporate sector are measurable. It aims at identifying the common forms of corruption in the corporate sector and how to eliminate same. The closest paradigm of such exercise is the OECD’s Good Practice Guidance on Internal Controls, Ethics and Compliance which works by identifying certain “corporate red flags” including bribery, kickbacks, facilitation payment, charitable and political donations (sponsorship, travel, and promotional expenses), collusion, cartels, patronage, Illegal information brokering, and tax evasion. Continue Reading

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