By Ndubuisi Francis in Abuja
The Bureau of Public Enterprises (BPE) is strict with privatised enterprises on corporate governance issues, the Director General (DG)of the Bureau, Mr. Alex Okoh, has said.
Receiving the Executive Secretary of the Financial Reporting Council of Nigeria (FRC), Mr. Daniel Asapokhai, who led other management staff of the council on a courtesy visit to the BPE headquarters in Abuja, Okoh added that it was because of the bureau’s strict stance on corporate governance issues that a code of conduct was put in place for the government-appointed directors on the privatised enterprises.
A statement issued by the BPE Head, Public Comminications, Amina Tukur Othman, said the bureau, in its commitment to transparency, accountability and corporate governance ensures that privatised enterprises, during the lock-in period provide timely audited accounts of the enterprises.
In his remarks, the Executive Secretary of FRC, Asapokhai, said the purpose of the visit was to present a Memorandum of Understanding (MoU) between the council and the BPE on how best the two organisations could work together.
He decried the practice where directorship on the boards of public entities in the country was based on serving the interests of individuals and zones; adding that the council was working to address the issue.