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The case of failed banks raising funds through the capital market, the unfortunate incident with Cadbury and more recently, the collapse of the wonder banks in Nigeria all point to the fact that there is little or no protection for the vulnerable investor who is attracted by the promise of high yield on these investments. Is our Corporate Governance Code weak? Is the sector well regulated?

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  News & Events

 

 

Olusoji Apampa assumes the position of Executive Director of the Integrity Organisation.

Mr Olusoji Apampa, co founder of Integrity has since December 2007 assumed the position of the Executive Director of Integrity. Before now, Mr Apampa has worked as Managing Director SAP Nigeria, consultant for DFID, the World Bank, and other reputable international bodies. Mr Apampa currently works on the policy team of the NESG and was only recently nominated to join the Africa Leadership Initiative, ALI. An initiative led in Nigeria by LEAP Africa.

 


CBi speaks at the “Investing In Nigeria” forum in South Africa

Mr. Soji Apampa, the Exceutive Director of Integrity and Ms. Ime Enang, the chief Operating Officer of the organisation have been invited to an investment forum in South Africa scheduled to hold on March 29th, 2008 at the East campus of the University of Witswatersrand. The forum will highlight the investment opportunities in Nigeria and encourage Nigerians living in Diaspora to maximize the opportunities while also pointing out risks that would need to be avoided.

 


CBi Book Presentation- “Do Right, Do well: Compliance and the Market Mechanism”

book presentationCBI conducted a survey to investigate the motivations for compliance to good corporate governance within the Nigerian Business Space. The gaps when compared to Codes in the United Kingdom or United States show the peculiarity of the Nigerian context and will serve as good guide for anyone either seeking for investment or interested in investing in Nigeria. The survey highlights the need for interdependence of companies, regulatory bodies and all interested parties as the only way to guarantee sound corporate governance practice in Nigeria. It also brings to fore, the need for the office of an ombudsman to moderate the relationships between the bodies. The Book was presented to the public on March 14th, 2008 at an event attended by professionals from all walks of life. The book, written by Mr. Soji Apampa, the Executive Director of Integrity was presented by Dr.Christopher Kolade, Chairman of Integrity’s Board and reviewed by Professor John Elegido, Dean of the Lagos Business School. Individuals and cooperate bodies interested in the book should contact the organisation for more information.

 


Sokoa Chair Centre, and its subsidiaries sign on to the Convention

Mrs. Ibukunoluwa Awosika, the reputable entrepreneur who is renowned for her stance on integrity in business has become the organisation’s newest member. Her company, Sokoa Chair Center and its subsidiaries The Chair Centre and Furniture Mart Association signed to the Convention, at a public event that held on march 12th, 2008.In attendance were Mr. Soji Apampa, Executive Director Integrity and other notable dignatries, the event was well publicized in the media.

 


Dialogue Sessions

On the 11th and 13th of January 2008, CBI convened a dialogue session with Faith Based organizations muslim and Christians in Nigeria at the MUSON centre in Onikan Lagos. Both events were both interactive and contributions of all present are considered valuable. Both events highlighted the roles of faith based organizations in nation building.

 


Parenting Workshop

About 29 women were present at parenting seminar led by Mrs Iyabode Ladipo and Mrs Shade Adefisayo of the Corona Schools Trust. Also described as interactive, professional women present at this event were keen to advocate for improvements in the area of education, consumer protection and joining the integrity club.

 


Book Presentation

Presentation of the Book Do Right, Do well: Compliance and the Market Mechanism is scheduled to hold on March 14th 2008 at the conference chamber of the Nigeria Institute of International Affairs between 10h00-12h00. The Book will be presented to a cross section of business leaders, regulatory bodies and other stake holders. The event is sponsored by MTN Nigeria, GTB Plc, Prominent Securities, Express Discount Limited, Prima Garnet Ogilvy with Business Day acting as the media partner. The event is organized under the auspices of the Business Action against Corruption (BAAC) initiative in Nigeria.

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Signing Ceremony

Sokoa Chair Centre Limited, Chair Centre Limited and the Furniture Mart Limited have concluded all processes to sign on to the Code of Business Integrity. The ceremony is scheduled to hold on the 12th of March 2008.

 


Investing in Nigeria Forum

The Convention on Business Integrity, CBI is scheduled to speak at the forum scheduled to hold on the 29th of March in Johannesburg particularly for Nigerians living in the diaspora and also other prospective investors. Participants at this forum include a large section of the academics and people from other professions. The event will hold in Lecture Room 6b of the Built and Environmental Engineering of the University of Witswatersrand in Johannesburg between 10h00-12h00.

 


CBI chairman speaks at WIMBIZ Annual Conference 2007

Dr Christopher Kolade CON spoke at the plenary session of this year’s Women in Management and Business Conference on the 22nd November 2007

 


CBI Membership

Lined up for signing up to the CBI Code at present are Sokoa Chaircentre, the Chaircentre Limited, Furniture Mart, Cashlink Plc, Business Day Media and Phillips Consulting. Signing Ceremony dates will be communicated to you in due course.

 


Business Without Borders Project

Between December 2006 and July 2007, CBI convened training workshops both within and outside Nigeria. Over 500 participants attended these training fora. Towards the end of the project, CBI conducted a study that has shown that has revealed the need to recruit Regulators, Companies and all Stake holders to ensure compliance to regulations, ethics and standards defined by all interested parties.

 

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Financial Management Training Workshop for Women in Abuja,6th of December 2007

Against a backdrop of phenomenal success that women have been recording in Nigeria, the need to respond to challenges of women suddenly becoming bread winners on account of widowhood or retrenchment of spouses and finally as a way of building capacities of women to manage their finances in a way that grows wealth, with the belief that this will lead to less inclination to corruption, CBI is pleased to convening this training in Abuja with Mrs Modupe Dada CEO of Prominent Securities and Mrs Nimi Akinkugbe of IBTC as lead speakers. Call Yinka Johnson to register for this training on 234 (0)1 2707092.

 


CBI Managing Reputation Training Held on the 28th of November

In today’s dynamic business world, it has become necessary that a company pays as much attention to its reputation as it pays to its bottom line. To provide the lead on how to manage corporate reputation, CBI convened a workshop “Managing Corporate Reputation” During this one-day training workshop, risks to reputation, best practices in corporate reputation and its applicability to Nigeria were examined and discussed in great depth.

 


Mrs. Ibukunoluwa Awosika joins the Board of Integrity

The Managing Director/Chief Executive officer of Sokoa Chair centre and a respected entrepreneur who has won various laurels as an enterprising woman, from November 2007 joins the Board of Integrity.

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CBI Integrity Rating Model Adopted by the Business Action against Corruption Task Force in Malawi

On the 22nd of November at the Ryalls Hotel in Blantyre Malawi, the CBI Integrity Rating System was adopted as model for rating integrity by the Business Action against Corruption in Malawi. The workshop was convened by the Africa Institute of Corporate Citizenship AICCA in Malawi and was attended by representatives of the Internal Auditors association of Malawi, Financial Intelligence Unit, the Standards Board, the Tea Association, USAID, and other players in the private sector.

 


Core Group Meeting of CBI Signatories

Meeting of the Core Group of the Convention on Business Integrity was held on the 7th of November 2007. In attendance were Mr Akintola Williams OBE, Mrs Amina Oyagbola Corporate Exectiive of MTN Nigeria, Mr Wallace Garland acting CEO of Cadbury Nigeria, Mrs Fola Akande Company Secretary of Standard Chartered Bank Nigeria, Mrs Ayo Ayuba of SAP Nigeria, Mr Ladipo Alla of Omolayole and Associates, Mrs Modupe Dada, CEO of Prominent Securities and Mr Olusoii Apampa. The Next meeting is scheduled to hold on the 16th of January 2008.

 


CBI Presents at the British Business Group Dinner on November 1st 2007

On the 1st November 2007, CBI honored the invitation to present at a meeting of the British Business Group. The UK Trade office in Nigeria provided this opportunity. Present at this event were Peter Stephenson Director UK Trade office in Lagos, Mr Richard Powell Deputy High Commissioner to Nigeria, Mr. Soji Apampa, Co- founder Integrity Organisation, Mr. Mark Martyn-Fisher, Managing Director/ Divisional Manager, African Region UPS, Mr. Ajibola Olajide, Director WYKO Nigeria Ltd.

 

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Dr Christopher Kolade leads Dialogue Session with the Professional Women on the “State of the Nation”

On the 26th of October 2007, over 50 professional women gathered to discuss the state of the Nation and the role of the women as wives, mothers and sisters. Dr Kolade spoke about women as ------Moderators, and Intuitive Managers.  At the end of the day, a communiqué was issued and three pressure groups were formed to work with government on policy advocacy in education, in private and public schools, youths and children in reorientation of values and skills gap. (Please find communiqué)

 

 

CBI hosts CEOs to Home Coming Dinner for Dr Christopher Kolade CON

On the 28th of Septenber 2007, CBI hosted a cross section of CEOs to a dinner in honour of Dr Christopher Kolade CON on his return from his diplomatic posting to the United Kingdom. Mrs Amina Oyagbola Corporate Executive of MTN Nigeria, Mr Peterside Atedo of CEO of IBTC Chartered, Ms Ngozi Edozien Regional Director of Pfizer Global Pharmaceuticals, Mr Joseph Caulcrick Country Manager of United Parcels Services UPS, Mr Olushola Adegborioye of CentrespreadFCB, Mr Lolu Akinwunmi CEO of Prima Garnet and President AAAN, Mrs Sandra Obiago, Executive Director of Communicating for Change CFC, Ms Osaretin Odaro Program Manager of International Finance Corporation IFC, Mrs Funmilola Johnson CEO of Whitefield Foundation, Pst Tokunbo Johnson of the Capstone Church, Mrs Olayemi Keri Regional Manager SAP Nigeria and West Africa and Mrs Muni Shonibare, CEO of Design Options. The dinner provided an opportunity for Dr Kolade to speak about Nigeria: Perception vs reality.

 


Financial Planning workshop for Women in Abuja- Over 58 women were

Over 58 women were present at the Financial Management Workshop which held in Business Connect situated in Edo House Central Business District Abuja on the 31st of January 2008. The workshop which was very highly interactive featured presentations from Mrs Nimi Akinkugbe of IBTC, Mr Bassey of Prominent Securities and Mr Olusoji Apampa.

 

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Core-Group elects Executive Group-

The first meeting of the year for signatories to the Convention of Business Integrity, referred to as Core-Group members held on Wednesday, January 16th, 2008 during which elections and nominations of the Working group was held. Mrs Amina Oyagbola representing MTN Nigeria was elected Chairperson, others are Mrs Lola Odedina GTB Plc – Fund Raising, Mr Diran Olojo Standard Chartered Bank Nigeria, Regulations and Compliance, Mr Opeyemi Agbaje Lagos Business School - Publicity, Mrs Modupeola Dada Prominent Securities Limited- Programs, Mrs Ayokanmi Ayuba SAP AG, Membership. The next date for the next Core Group meeting is the 11th of April 2008.

 


 

GT Bank joins the Fold
GT Bank has signed on to the Convention on Business Integrity. She became the 17th member organization to join The Convention on Business Integrity. They held their Signing ceremony on March 5th, 2007. It had in attendance their Executive Director, Mr. Tayo Adenirokun, The attorney General of Lagos State, Professor Yemi Osibajo ( Board member of Integrity), GT Bank Directors and other stakeholders. GT Bank is the first Nigerian Bank to be listed on the London Stock Exchange.


Standard Chartered Bank has signed on to the Convention
The bank joined the CBi family on May 24th, 2007 in the Board Room of their Head Office in Lagos. With their signing on to the convention, they have become the 18th member of the convention. The signing ceremony had in attendance the Managing Director of the bank, Mr. Simon Millet, Mr. Soji Apampa who represented the Board of Integrity, top officials of the Bank, Staff of CBi as well as the Media.


Prima Garnet Ogilvy joins The Convention on Business Integrity
Prima Garnet Ogilivy and its subsidiaries, 141 Worldwide, Media Share, Cutler Ogilvy and Lampost experientials publicly  signed on to the Convention on Business Integrity on July 19th, 2007. Present were Mr. Lolu Akinwunmi the Managing Director, members of their Board, Directors of CBi, represented by Mr. Soji Apampa and Prof. Gabriel Olusanya. Their joining CBi is significant for the major purpose that they are noted in the advertising industry for conducting their business ethically and they had to lose some major accounts because they “refused to play ball”. We are glad that they took this bold step and hope that others in the industry would follow suit.

Different organizations are at different stages of signing to the convention; Sokoa Chair Center has submitted its membership documentation. We await positive feedback from BusinessDay Newspaper, First Bank Nigeria, The Chair Centre and Furniture Manufacturing Mart. Details of their Signing Ceremonies will be communicated soon.

Please Click on http://www.theconvention.org/photopic.htm to view pictures taken at various events.

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CBi organizes Toolkit Workshop with the Canadian Deputy High Commission
To further expand the scope of work done on the Business Without Borders Toolkit, CBi organized   another workshop on the BWB Toolkit on May 24th, 2007.The workshop took place in the premises of The Canadian Deputy High Commission and we had participants from different professional groups as well as some participants coming from outside the State to attend the workshop.


Focus Group Discussions in Lagos and Abuja
As a follow-up to the “Doing Business Without Borders” Toolkit Workshop held last year and early this year, CBi organized two focus group discussions in the two states were the workshop held. The objective of the discussion is to create a forum, where the participants can come together to share experiences on how they have been able to implement the lessons at the workshop. The discussion held in Lagos on June 8th, 2007 and in Abuja on June 12th, 2007.


Monitoring and Evaluation Exercise
As follow-up to the “Doing Business Without Borders” Toolkit Workshop held last year and early this year, CBi organized a monitoring and evaluation exercise to get feedback from the participants on how the toolkit/ workshop has impacted on their businesses. The visits were done in Lagos and Abuja- the two places were the training took place. The visits were quite encouraging as the participants we met with gave testimonies on how the toolkit has impacted on their businesses.

To get a report on the Monitoring and Evaluation Exercise, Please click on  http://www.theconvention.org/testimonials.htm

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Toolkit workshop held in Lagos, Abuja and Kaduna
CBi held series of other workshops for SMEs under the BWB project. The workshops were done in collaboration with The chambers of commerce in Abuja and Kaduna. The workshop for Lagos was done in collaboration with The Lagos Chamber of Commerce, Enterprise Development service of the Lagos Business School, Leap Africa and some other membership based organizations.

Kaduna Workshop- The workshop held on July 6th, 2007 at the Hamdala Hotel in Kaduna, the turn-out was impressive and the participants were enthused that an organization could provide such comprehensive training at no fee charged to the participants.

Abuja Workshop- The workshop held in the training school of The Economic and Financial Commission (EFCC) in Abuja and it was done in collaboration with The Abuja Chamber of Commerce and EFCC. It held on July 17th, 2007.

Lagos Workshop- This held on July 23rd, 2007 at the Function Room of the Muson Centre. The participants were drawn from a number of SMEs representing different sectors of the economy. The turn-out was quite impressive.


Mr. Lolu Akinwunmi, Managing Director of Prima Garnet Ogilvy, now AAAN President

Managing Director and Chief Executive Officer of Prima Garnet Ogilvy Group, Mr Lolu                  Akinwunmi whose company is the most recent signatory of CBi has been elected the new president of the Association of Advertising Agencies of Nigeria (AAAN). He was elected during the 34th Annual General Meeting and Congress (AGM) of the association that held at Transcorp Hilton Hotel, Abuja on August 5th, 207. AAAN is the regulatory body for advertisement practitioners in the Country. As we congratulate him on his success, we have no doubt that he will go and do CBi proud as he brings to bear the values that he has been noted for. Once again, congratulations!


MTN NIGERIA LTD SIGNS ON TO THE CONVENTION

One of the foremost players in the Nigeria Telecommunications sector in Nigeria, MTN Nigeria. is the newest entrant into the membership list of The Convention on Business Integrity (CBI). The company signed on to the convention at a public event on November 2nd, 2006. The media event was witnessed by eminent Nigerians, made up of the Board of MTN. The Ceremony was attended by the Chairman of MTNN, Dr Pascal Dozie, the Managing Director, Mr Ahmad Faroukh, Board Members of the MTN Foundation, including, Mrs Aisha Sadauki, Mr Victor Odili and the Corporate Service Executive Mrs Amina Oyagbola, Mr Babatunde Osho GM Others present at the event were, Professor Yemi Osinbajo- Attorney General of Lagos State who chaired the occasion, Mr. Olusoji Apampa- MD SAP West and Central Africa Professor Gabriel Olusanya, Mrs Ndidi Okonkwo-Nwuneli of Leap Africa, members of the Diplomatic Corp, and other dignitaries were present to witness the epoch- making event.

In the meantime, we await suitable dates from GT Bank, Prima Garnet and others who have signified interest to sign on to the convention.

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CBi MAKES PRESENTATION AT THE FIRST CAMEROON INVESTMENT FORUM

The organization was invited under the auspices of the Business Action against Corruption initiative to make a presentation at the Cameroon Investment forum which held at the Hilton Yaounde on the 7th November 2006. The audience was made up of players from Cameroun’s private and public sectors, representatives from the development organizations and potential investors.


CORE-GROUP MEETING FOR CBi SIGNATORIES

The next Core-Group meeting for CBi signatories will come up on November, 30th, 2006. This meeting will provide an opportunity to review the organizations performance for year 2006 and discuss strategies for 2007.


CBi WORKSHOP ON TOOLKIT ASSESMENT AT MUSON CENTER

Mr. David Grayson, from the firm of Irwin and Grayson based in the United Kingdom was in Nigeria to hold workshops to review the tool kit his firm was engaged to produce. The objective of the tool kit was to provide a resource for building capacities of selected businesses with a focus to ensuring transparency and accountability. The workshops held on the 30th and 31st October 2006 at the Muson Center in Onikan. The workshop was an eye-opener as participants were able to share experiences as well as share their ideas about the dilemmas they face in business, the challenges they face in their resolve to run their enterprises ethically and also shared ideas on how businesses could run ethically and the role of the toolkit in ensuring that this is carried out successfully.


BUSINESS ACTION AGAINST CORRUPTION MANAGEMENT COUNCIL INAUGURATED

At a meeting convened by the Common Wealth Business Council on 20th October 2006 in Johannesburg South Africa, CBI was appointed to the Management Council of the Business Action against Corruption on the Continent. This Council is charged with drawing up strategies for the operations and funding of the project.

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BUSINESS ACTION AGAINST CORRUPTION ROADSHOW

As part of the BAAC initiative on the next phase, Professor Steve Godfrey of the Common Wealth Business Council led a team from the Convention on Business Integrity, CBI to meetings with key officials of Coca- Cola Nigeria Limited, Trade and Investment Unit of British Deputy High Commission and Shell Exploration & Production Africa Limited. The companies visited showed a positive interest to collaborate with the initiative and CBI in different ways.


CBi TO FACILITATE DIALOGUE SESSIONS WITH STAKEHOLDERS

The Convention on Business Integrity with the support of the Common Wealth Business Council under the auspices of Business Action Against Corruption (BAAC) is planning to hold dialogue sessions with some selected stakeholders. This is in keeping with the CBI strategy to provide a platform on which Businesses and Public Sector can interface on matters of anti-corruption. The first of these sessions is between the Federal Inland Revenue Service (FIRS) and its stakeholders. This is scheduled to hold on the 8th of December 2006. Other details with regards to this will be made available in due course.


CBi TO FACILITATE FIRST WOMEN’S FORUM TO HOLD IN LAGOS

The organization under the auspices of The Common Wealth Business Council is holding the first Women’s Forum on Corruption. It is expected that as mothers, wives, sisters, daughters, business women, policy makers and executives women have a great challenge to ensure that Corruption that is eradicated in Nigeria. Women from all works of life will be present at this event, tentatively scheduled for 29th of November 2006.


CBI FACILITATES ETHICS TRAINING FOR FEDERAL INLAND REVENUE SERVICE

The Convention on Business Integrity initiated the need for an Ethics Training Program with the South Africa Revenue Service (SARS) SARS has indicated its willingness and is working with FIRS to carry out the training that will assist to make the organization more transparent and accountable.

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UNITED NATIONS GLOBAL COMPACT- 4TH INTERNATIONAL LEARNING FORUM MEETING

Participants from all over the world will meet in Accra, Ghana to learn about challenges of implementing the Global Compact principles and partnerships for development. The meeting targets managers and other experts from business, civil society and labour that are working on corporate citizenship, sustainability and partnership issues. Ms.Ime Enang will be representing Mr. Apampa as moderator at the Learning Forum that would take place in Ghana between 22nd-24th, November, 2006.


LAUNCH OF FIX NIGERIA PROJECT

The Fix Nigeria Project which is a project of the Economic and Financial Crimes Commission was launched on October 16th, 2006. CBi and other key stakeholders were invited to the event.


LAUNCH OF THE INTEGRITY RATING SYSTEM

CBi has been commissioned by The Economic and Financial Crimes Commission (EFCC) to work on the CBi Rating system that would be used to rate financial institutions in Nigeria. The launch of the rating system has been fixed tentatively for December 7th, 2006.

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