Festive Season: Lawyers, promoters of corporate governance, unwind mark milestones

Lawyers under the aegis of In-House and Government Counsel Forum of the Lagos branch of Nigerian Bar Association recently set aside statutes and boardroom debates for an evening of relaxation and networking.

The lawyers are those who work within corporate organizations and in government institutions, known as custodians of corporate governance, compliance to standards in organisations. They offer advises on the legal aspects to what companies are doing and provide guidance to government institutions.

The party, which held at the rooftop of the law firm of Banwo and Ighodalo in Ikoyi, Lagos, offered a rare opportunity to the legal practitioners from diverse sectors in the economy, to unwind outside the familiar confines of corporate offices.

For a life balance, it was a reminder that even those who uphold structure and accountability in organisations deserve moments of relaxation.

The event featured music, games and informal interactions, providing a relaxed ambience, devoid of the serious attention often associated with the legal profession.

To the lawyers, the event was also crucial to celebrate their milestones within the outgoing year and focus on the new year.

Adeola Olumeyan, Chairman of the In-House and Government Counsel Forum told BusinessDay that individually and collectively, the lawyers working in organisations and government institutions have contributed immensely not just to the body of knowledge in law, but to the economy.

“Without the lawyers that work for government, or within corporate organizations, you cannot have a system that works. We are the ones who are the guardians of the governance systems. So, we decided we are letting down our hair for a moment, forgetting all the issues within government and within our organizations, and just celebrate together”.

Pointing to some of those achievements, Adeola, who is a certified board governance auditor with decades of legal, governance and business leadership across Africa, said for instance some of the group’s members work in government institutions like the Lagos State Ministry of Justice and the FCCPC ensuring that mergers and acquisitions go through seamlessly. “Some of our members are the ones that have helped governments with policies and reforms”.

On the implementation of tax regime next year, Adeola said her members have been going on trainings, preparing and educating themselves on the new tax law.

Uchenna Ogunedo Akingbade, the current Chairman of the Nigerian Bar Association (NBA), Lagos Branch, who made history last year as the first female to hold the position as the 28th president of the association since 1960s equally came to identify with the in-house and government lawyers.

Speaking to BusinessDay on the impact of the evolution of AI in workplaces, especially among in house lawyers in promoting corporate governance, Uchenna agreed that the whole world has been taken over by AI. She however cautioned on the ethical use of AI, stating that the In-House and Government Counsel Forum, has trained its members on AI to know how to use it responsibly and infuse it into their corporate governance systems. They also undergo trainings on risk management.

On what she thinks are the biggest threats to organisations, she identified lack of implementation of corporate governance and poor succession plan as threats.

She regrets that many indigenous companies in Nigeria are not up to 100 years old, explaining that many of the 100 years old companies are the ones established by foreigners.

She advised Nigerian companies to implement corporate governance, ensure good succession plans and avoid cultural sentiments in running their organisations for long survival of their companies.