Don’t make CSR mandatory for firms, experts warn

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Experts in the corporate world have cautioned against making Corporate Social Responsibility mandatory for companies in Nigeria.

Making the call in Lagos at the 2016 annual conference of the Institute of Chartered Secretaries and Administrators of Nigeria, Lagos Chapter, stakeholders said the increasing clamour for such by some individuals should not push the government into taking the decision.

Speaking on the theme of the conference: ‘Corporate Social Responsibility, a veritable tool for governance’, the keynote speaker at the event and Managing Director of Platinum Corporate Solutions, Accra, Ghana, Catherine Engmann, said companies should be encouraged to develop and impact lives within and beyond their immediate areas of operation rather than being compelled to do so, as this could lead to problems in the long haul.

She said, “As we are aware, our corporate governance framework is derived from the colonialists and what they left behind; they left behind their concept of a company and its role in society, and all the laws and the regulations flowing there from.

“Whilst CSR has the potential of becoming a positive tool in impacting societies, I do not think anybody should be forced to carry out such initiatives. It’s my view that we are still developing a way to incorporate CSR into the fabric of companies in this part of the world.”

 

 

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