Kolade harps on corporate governance for economic development

PRO-CHANCELLOR of Pan African University, Dr. Christopher Kolade, said that unless the nation takes the issue of corporate governance as a priority, its plan of becoming one of the leading economies in the world would only be a mirage.Kolade, who delivered a paper titled: 'Godliness in Governance', at a seminar organised by the Winning Christian Initiative, in Lagos, said that it was imperative that the significance of corporate governance is recognised in all spheres of life and in line with the country's economic development goal.Kolade, who was a High Commissioner to the United Kingdom, said that it was wrong for people to believe that God has nothing to do with governance.'When godly people are in authority, the people rejoice, but when the wicked are in authority, the people suffer. We cannot get away from the fact that God is interested in godliness. Everybody in authority should know that they are servants of God', he added.Defining governance, he said: 'It is to ensure an orderly society for people to pursue their individual and group interest. It is the promoting the wholesomeness of people's bodily and spiritual condition. It is the orderly distribution of wealth of the society.'If people claimed to be governing and do not consider the interest of the people, it is no longer governance. We are all critical part of governance'.Speaking on how corruption has eroded corporate governance in the country, Kolade stated: 'There is party politics based on self-interest, with little regard for the interest of the whole community. Election for responsible position is driven by patronage other than demonstration of performance potential'.To promote corporate governance, he emphasised the need to adopt a system that would enable people to grow into leadership positions through experience and performance.'There should be provision of leadership education that highlight the quality of service delivery and accountability. We should also mobilise younger generation and teach them values that are central to indigenous culture and honour', he said.
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