THE Lagos Chamber of Commerce and Industry has said it will not hesitate to apply the law against member companies which violate its code of business ethics.
To this end, the Chamber says it will not hesitate to withdraw the certificate of any member whose operations compromise its integrity and reputation.
President of the Chamber, Goddie Ibru, handed down the warning recently at a reception organised for new members.
He said the chamber is committed to high ethical standards, integrity and responsibility in business practice.
“As businessmen and women, we have obligations which transcend profit making. We should pay adequate attention to the integrity of our business transactions and practices.
I, therefore, enjoin you to be committed to the ideals of business ethics and responsible corporate citizenships. Indeed, we have a code of business ethics to which all members are to subscribe. I would like to caution that a breach of this tradition of integrity and honour by any member will be viewed seriously and be visited with appropriate sanctions,” he said.
According to him, it has become imperative for members to sustain the chamber legacies. “The LCCI has gone a long way to build its present image and credibility through vision, selfless services and integrity of illustrious founding fathers and their worthy successors.
It, therefore, behoves of us as inheritors of that glorious and enduring legacy to keep the flag flying at all times.”
He told new and old mem-bers that as businessmen and women, it was their duty to project a positive image for Nigeria by conducting their businesses responsi-bly and with the highest ethi-cal standards.
He said the chamber, which was founded over a century ago, had consis-tently dedicated itself to the promotion of commerce and industry.
“The LCCI also articulates the opinion of the business community on commerce, industry, mines, agriculture and the economy as a whole,” he said.
He added that the cham-ber offers various services to its members, especially in the realm of development, arbitration and mediation services.
In a related event, the chamber has said the secu-rity situation is impacting negatively on the investment environment.
This, it said, has led to de-clining confidence across the broad spectrum of pro-spective domestic and for-eign investors in the economy.
Chairman of the Chamber’s membership committee, Dr Wole Ogungbehin, advised the
new members to support the chamber through their active participation in its activities.
He said members should endeavour to attend the chamber’s meetings and events regularly as benefits are better derived from the chamber through active par-ticipation.
He urged them to pay subscriptions as and when due.The inaugural fo-rum, tagged: Legislative-Pri-vate sector forum, which at-tracted national assembly members, captains of indus-try and other stakeholders, seeks to provide deeper working relationship be-tween the legislative arm of government and the private sector.
The Senate President said that the country needed to build and strengthen public-private partnerships in the ar-eas of healthcare, education, energy, agriculture, oil and gas, transportation, among others.
“I believe that public-pri-vate partnerships will deliver more sustainable develop-ment solutions than most of the current development aid and interventions we have in the country.
This is princi-pally because more attention will be given to sustainability and return on investments than the regular aid interven-tionists. If public-private part-nership is properly managed, many unemployed youths will be off the streets; chil-dren will have access to qual-ity education; fewer rural dwellers will struggle to come to urban areas in search of white collar jobs.
It will intro-duce or increase mechanized agriculture in rural areas. Also, a healthier citizens will spring forth because we will have better access to cheaper healthcare; and businesses will make more profits be-cause there will be affordable and stable energy supply at their disposal,” Mark said.
Optimistic of a stable power supply, the Senate President added, “I think the root of our inability to develop in this country is as a result of lack of stable energy. However, with the power sector reform and eminent privatization of the distribution companies it is hoped that we will meet our energy requirements.”
The Senate President iden-tified adequate funding, both from local and international, identification and selection of priority projects, diversifica-tion of the economy, foreign direct investments, secured and conducive business en-vironment and education and capacity development, as practical guides to make public-private partnership work in the country.
On the role of the National Assembly and the PPP, Sena-tor Mark, said that the Na-tional Assembly is a frontrunner in championing public-private partnership for national development.
“The National Assembly’s role is that of a facilitator and a catalyst. By playing the role of a facilitator, the legislative rings together and regulates various partners and initia-tives. And as a catalyst, the legislature speeds up the process and mechanisms leading to an effective part-nership between public and private sectors,” he said.
He, however called for mu-tual trust between parties for the partnership to be effec-tive. While assuring all stake-holders that the National As-sembly is prepared to work with the private sector in en-suring that “we make laws that will create an enabling environment for public-pri-vate partnership and busi-ness to thrive.”
Earlier in his opening re-marks at the event held at Eko Hotel and Suites, Victoria Island, Lagos, the president, LCCI, Goddie Ibru, who noted that pass-ing laws to improve the business climate of Nigeria falls under the purview of the National Assembly, said the Chamber is willing to see an upward swing in the passage of legislation in the National Assembly, especially legislation relat-ing to the business envi-ronment.