Public sector governance code to tackle corruption, mismanagement – FRC

…engages stakeholders on drafting public sector governance code

The Financial Reporting Council of Nigeria (FRC) has reiterated its commitment to strengthening transparency and accountability in the public sector through the newly drafted Nigeria Public Sector Governance Code (NPSGC).

Abuja Rabiu Olowo, Executive Secretary/CEO, FRC, speaking at a stakeholder engagement and consultation forum held in Abuja, emphasized that the Code is designed to address governance failures, corruption, and inefficiencies in public institutions.

Olowo highlighted that Nigeria’s ranking of 154 out of 180 countries on Transparency International’s Corruption Perceptions Index (CPI) in 2021 underscores the urgent need for governance reforms.

He stressed that the draft Code will serve as a guiding framework for Ministries, Departments, and Agencies (MDAs) by promoting best practices in board composition, financial management, sustainability, stakeholder engagement, diversity, and ethical conduct.

“The public sector plays a crucial role in delivering social services and driving national development. However, issues of corruption and mismanagement have eroded public trust in institutions. The Governance Code will help establish a culture of accountability and transparency, ensuring that organizations operate with integrity and align with global best practices,” Olowo stated.

Olowo further noted that adopting the Governance Code would boost Nigeria’s credibility on the global stage, attracting foreign investment and international funding for development projects. He urged stakeholders to actively participate in finalizing the document, emphasizing that their input is vital to ensuring the Code reflects the realities and challenges faced by public sector organizations.

“As we look forward to the eventual release of the Code this year, our goal is to create a governance framework that fosters trust, accountability, and ethical conduct in our public institutions. This will ultimately contribute to a stronger, more resilient economy where the benefits of governance reforms extend to all Nigerians,” he concluded.

According to him, The Technical Working Group (TWG), led by Danladi Kifasi, former Head of the Civil Service of the Federation, was responsible for developing the draft document.

“So for us, we believe in consultation, we believe in engagement, today is a stakeholder engagement for the Nigerian Public Sector Governance Code, it is a critical framework for deepening transparency, accountability, culture, values, conduct within the public sector.

“We believe that the public sector is very important, it’s a sector that 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,”

On his part, Chairman of the Technical Working Group (TWG) said that the Code aligns with existing laws and frameworks without conflicting with them. He noted that Instead, it provides additional value by encouraging ethical behavior and responsible leadership in public service.

“So the code is not an instructional book. It’s a guide that you will have to practice. Professional bodies have a code of ethics, don’t they? The public service should have a code of ethics.

“So it’s not going to have any conflict with any existing law. 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,” Kifasi explained.

He added that the Code is a key component of President Bola Tinubu’s Renewed Hope Agenda on Good Governance and Anti-Corruption and the document aims to enhance accountability, prevent conflicts of interest, and instill integrity within government institutions.

According to him, the Code recognises the diverse nature of public sector entities and provides flexibility to accommodate their unique needs and circumstances. “Whether it’s a Ministry, Department, Agency or a public corporation, the principles outlined in the Code can be tailored to suit various contexts while upholding the overarching values of good governance,” he added.