Vice President, Yemi Osinbajo, says the development and sustenance of viable enterprises are no longer dependent on the size of the corporation and related factors but sound ethical practices imbibed by all stakeholders.
Professor Osinbajo said this at the virtual 2020 Conference of the Institute of Directors.
According to him, “The frequent clashes between conscience and wrongful behavior will eventually create a toxic work environment and destroy corporate objectives and visions.”
In a statement issued by his Senior Special Assistant on Media and Publicity, Laolu Akande, there is also enough history of how cutting corners and dishonesty ultimately bring down the whole enterprise.
This he noted is behind the collapse of many Nigerian financial institutions from the nineties to the more recent occurrences in 2009.
The Vice President explained that the local and especially the international examples of the collapse of companies thought to be too big to fail and brand names that had even once been associated with integrity and strong business ethics are a strong reminder of just how brittle edifices built on weak business ethics are.
The event featured presentations by Professor Marc Le Menestrel, a Professor of Decision Sciences; Chairman of Governing Council, Institute of Directors, Chief Chris Okunowo; and Dele Alimi, DG/CEO, Institute of Directors.
