By Giwa SHILE
Stakeholders at a public hearing at the House of Representatives on Monday supported two bills seeking to establish Chartered Institute of Directors and Chartered Institute of Auctioneers.
The public hearing which was organised by the House Committee on Commerce was on a bill for an Act to establish Chartered Institute of Directors of Nigeria to serve as regulatory body for persons serving as directors and provide continuous training.
Also, the bill for an Act to establish the Chartered Institute of Auctioneers to provide control of its membership and practice of auctioneers came under the hearing.
In his remarks, the President, Institute of Directors of Nigeria (IoDN), Mr Ahmed Mohammed, commended the sponsor of the bill and the entire National Assembly for the initiative.
He said that the IoDN which provides training and enhancement of the capacity of directors had been in existence for over 34 years without being funded by government.
Mohammed said that the institute had over 4000 directors as members cutting across the public and private sector.
The president said that though the institute is affiliated to a number of foreign institutions, the bill, when passed into law would position the institute to further develop itself.
He said that the institute was not seeking to regulate the appointment or removal of directors but to offer a more robust and required professional training to directors.
According to him, this would ensure standard operation, corporate efficiency, institutional productivity and public accountability in the private and public sectors.
“A legal framework establishing the institute as a chartered body would therefore make it possible for the institute to have legal strength and greater opportunity to provide the nation with opportunity to fully harness the potential benefits that are embedded in the working of the institute,” he said.
Mohammed said that the bill, when passed into law, would promote practice of directorship in public and private sectors.
He said it would acquaint directors with best global practices, make them specialist in critical thinking with creative problem solving skills, among others.
Also, the Registrar, Certified Institute of Auctioneers of Nigeria, Mr Adeleke Hassan, said that the bill seeking to establish Chartered Institute of Auctioneers was necessary to ensure decorum in the practice.
He said that the existing law had some gaps that were necessary to be bridged for effective operation of the business.
Hassan said that there was need for regulation to ensure that consumers get the best service in Nigeria and for the country to turn all its wastes to resources.
The registrar said that Nigeria needed to take a step to put regulation in place like other countries to ensure maximum benefits of the sub sector.
Earlier, the Chairman, House Committee on Commerce, Rep. Sylvester Ogbaga (PDP-Ebonyi) said that the bills were for the interests of all stakeholders.
Ogbaga said that it was important to seek the inputs of the stakeholders before the bills would be passed.
He commended the stakeholders for coming for the public hearing, urging them to feel free to make their contribution.
The sponsor of the bill for an Act to establish the Chartered Institute of Auctioneers of Nigeria, Rep. Austin Okechukwukere (APC-Imo), said that he believed in the business of auctioneering.
He said that the bill would provide for the regulation, control and the standardisation of knowledge required to by people desiring to become chartered auctioneers.
The lawmaker said that he was inspired to sponsor the bill because he believed in the business of auctioneering and that Nigeria needed all available funds to move the economy forward.
He said that it was also important to professionalise every aspect of the business of auctioneering and boost the standards to meet International standards.
The legislator said that auctioneering had become a global big time business and that Nigeria could not afford to be left behind.
He said that the opportunities were enormous as it would generate funds, provide employment for the youths among others.
Chukwukere said everything that is was worth doing was worth doing well, urging stakeholders to make their contributions for the survival of the bill.
