September 20, 2021

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ICSAN advises FG on MDAs, economy

ICSAN

ICSAN has reiterated its call for appointment of secretaries for MDAs as provided in the Companies and Allied Matters Act 2020 (CAMA).
By Rukayat Moisemhe
 The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has reiterated its call for appointment of secretaries for Ministries, Departments and Agencies (MDAs) as provided in the Companies and Allied Matters Act 2020 (CAMA).
Mr Bode Ayeku, President, ICSAN, made the call at a media parley on Thursday in Lagos, noting that many MDAs were without any.
“The absence of the positions of secretaries in many of these government agencies shows a gap in the understanding of the emerging role of secretaries.
“All the necessary mode of engagement and even removal should be provided, and urgently too, in the running of the affairs of government agencies for the sustainability of good corporate governance structure.
“I am also appealing to the Financial Reporting Council to revisit the process of the code of corporate governance principles for the public sector to ensure uniformity across all sectors,” he said.
Ayeku called for reconstitution of the boards of federal MDAs to engender the sustainability of government structure and reduce pressure on core management for successful, thriving government agencies.
He said that the ongoing constitutional review provided an opportunity to shape and remodel the future of the country, particularly, with regard to the high cost of governance in the nation.
The ICSAN president stressed that the nation’s current heavy indebtedness needed to be restructured to accommodate and reflect its current realities.
Ayeku backed Nigeria’s borrowing to fund its capital intensive infrastructure projects to address the nation’s deficits and improve its economy.
He, however, proposed that the loans must be jointly supervised by the lender(s) to ensure the appropriate use and channeling of funds.
Ayeku advocated the establishment of a sinking fund for repayment of loans, appropriate utilisation of resources and the unburdening of future generations from debts.
He urged the government to also engage international agencies that could give advice in view of the nation’s financial situation, on a cost efficient structure that is sustainable for the economy.
Ayeku said that the Federal Government should channel efforts towards ensuring that states became self-reliant and sufficient, managing all resources responsibly to improve the Nigerian economy.
“There is no reason why each state would not take up an aspect of agriculture and focus on to drive self sufficiency, improve exports, and create employment.
“Eventually, we would need to embark on massive backward integration to add value to our raw materials, consume what we produce therefore reducing the current pressure on foreign exchange.
“Government would need to create farm settlement scheme and recruit young graduates and members of the National Youth Service Corps(NYSC) on farming produce with competitive advantage,” he said.
The ICSAN President also called for the streamlining of duplicate functions of MDAs and reduction in the number of ministers.
Ayeku said there was a need to reduce wastage in the country’s electioneering processes.
This, he noted, could be achieved by migrating to the digital model of electronic voting and transmission, to save cost and reduce mishaps associated with physical activities.
Ayeku, whose tenure was ending, urged his successor to objectively listen to the concerns of all stakeholders to enrich his decision making process with the paramount interests of the Institute.
He noted that his administration was successful at restoring the Institute to the governing board of the Corporate Affairs Commission (CAC) and enhancing good public perception.
The outgoing president said this was achieved with sustained interactions with private and public organisations.
He said that plans for the institute’s building project were delayed by the COVID-19 pandemic but had just been resuscitated with the design currently ongoing. (NAN)(www.nannews.ng)
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