Executive Secretary/Chief Executive, Financial Reporting Council (FRC) of Nigeria, Dr. Rabiu Olowo, on Tuesday assured that the proposed Nigerian Public Sector Governance Code will promote good governance, and mitigate fraud, misuse of funds, and governance failures as well as confidence in public institutions.
He said the code will also position the sector as a ready credible partner to government, international organisations, and private sector entities, which shall serve as a crucial avenue for collaboration on large-scale development projects.
Speaking at the hybrid stakeholder engagement and consultation to receive comments on the Draft Nigeria Public Sector Governance Code (NPSGC) in Abuja, the FRCN boss stressed that the draft Governance Code not only strengthens individual organisations but also contributes to the overall stability and sustainability of the nation’s public sector.
This came as other stakeholders, including the Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako and Chairman. Code of Conduct Bureau, Dr. Abdullahi Usman Bello, among others, welcomed the draft governance code, highlighting its ability to further entrench transparency and accountability in the public space.
Olowo told THISDAY that the code remained a critical framework for deepening transparency, accountability, culture, values, conduct within the public sector.
He said, “We believe that the public sector is very important, and remains a sector that we believe should instill a model of culture within the Nigerian society.
“We believe that it is a sector that should tell the private sector the way to go to lead and to champion good conduct.”
He said the Technical Working Group (TWG) for the code had done a substantial job consulting with every area and sector group, and came up with a document that “We believe will withstand the test of time in order to align with the objective that’s been set”.
Olowo said the code would address the country’s low ranking in the Transparency International Index on corruption, which ranked Nigeria 154 out of 180 countries with a score of 24/100 based on the 2021 Corruption Perception Index (CPI).
He said according to the Transparency International Index, corruption remained the abuse of entrusted power and privileges for private gain, and that this has proven to be pervasive and prevalent in Nigeria’s public sector.
Olowo said, “In a country where the public sector plays a vital role in providing social services, advocacy, and development initiatives, the draft code will and shall help ensure that government organisations operate with integrity and in line with best practices.
“This code establishes guidelines for board composition, financial management, sustainability practices, stakeholder engagement, diversity, equality and non-discrimination, among other key issues, which are essential for building trust with the public at large who rely on their services.
“This trust is particularly important in Nigeria, where corruption and mismanagement have historically undermined confidence in public institutions.”
He added that the TWG in putting the document together for use by organisations concerned, considered global concepts of good governance and recommended guidelines that promotes good governance practices and standards of accountability, transparency, and effective governance.
He said, “This becomes even very compelling as the public sector plays a strategic role in the success of the Nigerian economy. By applying the principles and recommended guidelines stated therein, it is our hope that the code will enhance the fulfilment of the overall mandate of organisations so that they can achieve their intended outcomes for their communities and citizens as well as render better service to users and key stakeholders.”
Olowo said, “My hope for our dear country, Nigeria, following this stakeholder engagement on the Nigeria Public Sector Governance Code, is that we will see a significant strengthening of the Public Sector which plays a crucial role in supporting our socio-economic development as a nation.
“It is hoped that the code, when implemented as expected, will enhance public trust and attract more local and international funding, driving sustainable growth and development across various other sectors.
“Ultimately, a stronger, more credible public sector will evolve and contribute to a more resilient and inclusive economy, where the benefits of development stretches to all corners of the society.”
Chairman, Technical Working Group (TWG) on the Nigeria Public Sector Governance Code, Mr. Danladi Kifasi, said the draft regulation remained part of Tinubu’s Renewed Hope agenda on good governance and anti-corruption.
He said the objective was to enhance accountability, transparency, and integrity as well as prevent conflict of interest and corruption among public sector officers.
According to him, the code serves as a guiding framework, outlining principles and best practices for the governance of public sector organisations and public servants, as well as ensuring that the entities and their staff operate in the public interest with integrity and efficiency.
Kifasi, a former Head of the Civil Service of Federation (HoCSF) also told THISDAY, “We are looking for good conduct, good character of institutions and organisations that will improve service delivery in the public service.
“So, the code is not an instructional book. It’s a guide that you will have to practice. Professional bodies have code of ethics, isn’t it? The public service should have a code of ethics.”
He further allayed concerns that the code may conflict with any existing law.
He said, “It’s only adding value to it. And if all of us imbibe it, we may not need policemen, we may not need EFCC or ICPC to continue to police our public service institutions.”
In his remarks, Deputy Chairman, TWG on the Nigeria Public Sector Governance Code, Mr. Muhammed Ahmad, explained that the philosophy of the code was founded on inclusiveness, sustainable development, integrated approach, and a belief in the public sector as an integral part of the society.
He said the code will ensure that Public Sector Entities (PSEs) fulfil their overall mandate, achieve intended outcomes for citizens and service users, and operate in an effective, efficient, transparent, and ethical manner.
He said, “The code has been developed and is to be implemented in Nigeria, and will be applicable to all ministries, departments and agencies of government, all state-owned entities and all parastatals.”
According to him, “The code is intended to support and strengthen governance systems of PSEs, in addition to those provided by their enabling Legislation.
“Without prejudice to the specific legislation that establishes a PSE, the principles of the code are directly applicable. It is mandatory for all PSEs to apply the principles of the code and consider same in its entirety to ensure a comprehensive perspective of good practice.”
Ahmad, a former/pioneer Director-General, National Pension Commission (PenCom), further stated that while disclosures, transparency and disclosure in the public sector strengthen accountability and build trust in the PSE, the provision of timely, comprehensive, accurate, and accessible information about the PSE’s plans and activities to stakeholder groups fosters appropriate dialogue between the PSE and its stakeholders.”
