The Financial Reporting Council of Nigeria (FRC) has proposed the development of a public sector governance code to address the menace of corruption, conflict of interest in appointment, among others, in public service administration in the country.

Speaking yesterday in Abuja at the inauguration of the Technical Working Group (TWG) for the development of the Nigerian Public Sector Governance code (NPSGC) in Abuja, FRC Executive Secretary, Amb. Shuaibu Ahmed said the proposed code would promote transparency, accountability and responsible decision-making in the public sector.

According to Ahmed, the code is expected to be a set of guidelines that outlines the principles and practices that public sector organisations should follow to ensure they are well managed and accountable to the public they serve.

He cited the United Kingdom, France, Germany, South Africa, South Korea, Singapore, among others, as countries where the codes had been used successfully to the benefit of the people.

He noted: “In order to succeed in developing a befitting Nigerian Public Sector Governance Code, the council wishes to remind this esteemed audience of key critical success factors and major risk areas that members of the committee/group should be mindful of as it embarks on this important national assignment.

“The following 10 key areas should be critically addressed in the proposed code which includes, corruption, diversity/challenges, conflicts of interests, appointment and composition of the board of directors as well as protecting the board Secretary.

“Others are appointment and role of external auditors, risk management framework, institutionalising code of ethics and transparency as well as embedding and promoting sustainability frameworks.”

Inaugurating the TWG, Minister of Industry, Trade and Investment, Otumba Adeniyi Adebayo, expressed optimism that the code would aid public sector entities to operate in an effective, efficient, transparent or ethical manner as well as ensure sustainability of government-owned entities, among others.

Adebayo said the code would engender public accountability of government resources and enhance the fulfillment of the overall mandate of public sector entities to achieve intended outcomes for citizens and better service the users.

The minister urged members of the TWG to employ their wealth of knowledge, expertise, experience, professionalism and time in developing an acceptable code that would rebuild and re-shape perspectives about the public sector and in the short, medium and long term lead to national growth and development.

“With today’s event, Nigeria is taking a big stride in our efforts to be a preferred investment destination, as we promote and imbibe best practices in public governance. I am hopeful that very soon, given the influx of core professionals/practitioners and constant flow of talents from the corporate world to the political space and vise-versa, we will also be promoting and demonstrating higher standards of good governance practices in the political space over time,” he added.

Responding on behalf of others, Chairman of TWG, Danladi Kifasi, a lawyer, expressed gratitude to the minister and FRC for finding them worthy to do the job, promising that the group would ensure that no stone would be left unturned to give their best to achieve success.