He is the Vice-Chairman of Exxon Mobil and a Fellow, Society for Corporate Governance Nigeria; A first class degree graduate from the University of Nigeria Nsukka and also multiple degrees holder from the Harvard Law School. He is a renowned expert in the Oil and Gas Industry.
Qurstion. What do you think is militating against sound corporate governance practice in many organizations?
Answer. I think the main problem is really the lack of corporate governance Culture. But the whole concept of corporate governance is beginning to be taken a lot more seriously by companies and businesses that previously paid lip service to the practice. The owners of these companies previously set up their own structure with minimal focus on corporate governance. When there is no culture; there is no systematic attention focused on developing regulatory framework for Corporate Governance and when there is no regulatory framework that compels businesses to focus on that, there would be corporate governance failures, like in the past.