ICSAN @60: Lagos govt, experts call for ethical, sustainable business practices
ICSAN President, Mrs. Uto Ukpanah
Nike Popoola
The Lagos State Government and financial experts have urged businesses to prioritise good governance, accountability, ethical practices and environmental sustainability while pursuing profitability.
They made the call at the 50th annual conference and diamond jubilee of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), themed, “Balancing Profit and Purpose: Advancing Sustainable Business Practices in Emerging Economies.”
Representing Governor Babajide Sanwo-Olu, the 19th Secretary to the Lagos State Government, Barrister Abimbola Salu-Hundeyin, said businesses must look beyond financial returns to consider the value they create for people, communities and the wider economy.
She described good governance as essential to effective risk management, sound decision-making and public confidence, particularly amid technological advancement and changing economic conditions.
Salu-Hundeyin urged ICSAN to help public institutions and business leaders establish standards for overseeing artificial intelligence and data use, while encouraging stronger collaboration to improve governance.
She disclosed that Lagos State generated N1.87 trillion in internally generated revenue in 2025, an 18.5 per cent increase over the previous year. Tax collection accounted for N1.44 trillion, while debt service-to-revenue stood at 19.2 per cent, below the 30 per cent fiscal responsibility threshold.
Delivering the keynote address, Dr. Biodun Adedipe, Founder and Chief Consultant of B. Adedipe Associates Limited, said sustainability should be built around people, the planet and purpose.
He explained that businesses must engage stakeholders, protect the environment and reduce the negative social and environmental effects of their operations.
Adedipe cited paper consumption as an example of how business activities affect natural resources, noting that paperless operations could reduce costs while supporting environmental protection.
He also urged ICSAN to consider its long-term legacy as it celebrated 60 years, stressing the importance of sustaining professional standards, ethical leadership and good governance.
Meanwhile, ICSAN President, Mrs Uto Ukpanah, called for increased support for the construction of the institute’s new national secretariat and the passage of the proposed Chartered Governance Institute of Nigeria Bill.
She disclosed that construction of the new secretariat, comprising a ground floor and three additional floors, had progressed. She urged members and stakeholders to contribute towards completing the project, expressing hope that it would be commissioned before the end of her tenure in July 2027.
Ukpanah also said the proposed bill, which seeks to change the institute’s name and expand its mandate, passed second reading in the Senate in June 2026.
She said the institute was working towards its enactment before the end of the 10th National Assembly.
Ukpanah added that Nigeria’s ambition to achieve a $1 trillion economy by 2030 made it imperative for businesses to balance profitability with responsibility and sustainable value creation.
She appreciated past leaders and members for their contribution to the growth of ICSAN.
