• Wednesday, July 24, 2024
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LCCI inducts 74 new members, tasks them on innovation, credibility

LCCI warns of unintended consequences as election row persists

The Lagos Chamber of Commerce and Industry (LCCI) has inducted 74 new members into its fold while charging them to operate their businesses with credibility and innovation.

Speaking at the induction ceremony in Lagos, Michael Olawale-Cole, president, LCCI said the Covid-19 pandemic emphasised the need for businesses to be innovative in order to meet the emerging needs and expectations of the market.

“The challenges created by Covid-19 herald new opportunities that must not waste, it is imperative for businesses to utilize the opportunities emerging in the global recovery leveraging data, trends and insights on lessons learned from the pandemic, and using it to enhance business operation and build strategic resilience for future,” he said.

Olawale-Cole said as business owners their primary obligation is to make a profit however the integrity of their business transactions and practices, environment, climate actions, and social sustainability should not suffer.

“I enjoin you all to be committed to the core principles of high ethical standards, global best practices, and responsible corporate citizenships, the Chamber has a code of business ethics to which all members are to subscribe,” he said.

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The president said over the years, LCCI has dedicated resources to consistently promote and protect private enterprise development, commercial and industrial activities to foster global competitiveness of the Nigerian economy.

He advised the new members to strategically position themselves to take advantage of the chamber’s numerous programs and initiatives for the benefit of their business.

Ladi Smith, chairman, membership & welfare committee, LCCI said promised that their membership will positively and significantly impact their business to stimulate growth, profitability, and sustainability if they maximize the opportunity.

“We believe that if our member companies embrace the tremendous opportunities that their membership status confers upon them whilst also positioning themselves to optimally derive the benefits of membership, LCCI shall continue to stimulate key economic indices to become impacted upon economic growth, stable prices, employment generation and balance of payments equilibrium,” he said.

Smith said the businesses are expected to always do business with integrity and at the highest ethical standards, pay Chamber subscriptions and Sectoral Group levies as and when due, and attend meetings particularly those most relevant to their businesses.