Nigeria: Failure of Companies Blamed On Weak Corporate Governance

The Executive Vice Chairman/CEO Nigerian Communications Commission, Prof. Umar Garba Danbata, has blamed the failure of some companies on weak or complete absence of corporate governance structures, as seen in major companies around the world such as Enron, Worldcom, Arthur Anderson, Leeman Brothers and in Cadbury Nig. Ltd; among others. According to Danbatta, “a strong corporate governance culture in an organisation encourages success and business sustainability. In an emerging economy such as ours, corporate governance is predicated on the need to entrench a control system, which increases shareholder value, as well as exceeding the expectations of other stakeholders”.