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Why Nigerian companies fail – AMCON boss

By on April 3, 2017

The Managing-Director and Chief Executive Officer of the Asset Management Company of Nigeria, (AMCON), Ahmed Lawan Kuru, has attributed lack of good corporate governance as the bane of Nigerian companies and business.

He spoke in Lagos at the induction of new members into the Institute of Directors of Nigeria, (IOD).

Kuru represented by Dr Eberechukwu Uneze, an executive director of the company, noted that it was not enough for companies to fail due to financial and administrative constraint.

Citing the infraction of Arik airline which necessitated his agency’s takeover, Kuru said the issue was not necessarily that they cannot run smoothly but the challenge of good corporate governance.

The AMCON boss advised the inductees to distinguish between their personal and corporate lives in order to achieve set results.

According to him, AMCON has been in the vanguard of promoting good corporate governance and instill financial discipline in corporate companies.

The President of the institute, Mr. Samuel Yemi Akeju, noted that 91 members were inducted, the first this year.