Nigeria Customs Hosts Roundtable on Best Practices for Government-Owned Companies
The Nigeria Customs Service (NCS) has reiterated its commitment to enhancing corporate governance, financial autonomy, and operational efficiency in government-owned enterprises.
This was the focus of a high-level roundtable discussion hosted by the NCS at its Headquarters in Maitama, Abuja, bringing together key stakeholders from the military, paramilitary, and financial sectors.
The one-day event was attended by the Comptroller-General of Customs (CGC), Adewale Adeniyi, alongside his management team, representatives from the Ministry of Finance, senior officers from the Nigerian Air Force, and board members of various government-owned companies.
Distinguished guest speakers included Rear Admiral Suleiman Abdullahi, Air Vice Marshal Mohammed Umar (Rtd.), Professor Peter Akper, SAN, Wing Commander Mohammed Mamu, and Christopher Ekwozor, Managing Partner of Anaebonam Ken & Co.
In his keynote address, CGC Adeniyi highlighted the crucial role of corporate governance in ensuring the sustainability and efficiency of government-owned enterprises, particularly those linked to military and paramilitary institutions.
He noted that the Nigeria Customs Service currently operates four companies, each contributing significantly to economic growth, job creation, and service delivery.
“We are here today to examine these companies’ operational structures, corporate governance, and financial realities. By sharing experiences and identifying challenges, we can develop solutions that will drive growth and efficiency,” Adeniyi stated.
His remarks set the tone for a robust discussion on best practices for running government-owned businesses, particularly in balancing financial independence with regulatory oversight.
Air Vice Marshal Mohammed Umar (Rtd.) provided a historical perspective on the establishment and management of military-owned companies, highlighting their evolution and impact on national development.
He pointed to the pioneering role of Engineering and Technical Services Limited, followed by other entities such as Properties, Housing and Construction Services and the Nigerian Air Force Investment Company Limited.
Rear Admiral Suleiman Abdullahi, a former Director of Logistics and Defence Administration, examined the unique challenges faced by government-owned companies, particularly the delicate balance between government control and operational autonomy.
“Understanding the legal and structural frameworks of such companies is essential for their sustainability,” he noted, stressing the importance of policies that allow these enterprises to function efficiently while remaining accountable to government authorities.
The discussions at the roundtable were timely, as government-owned enterprises strive to improve efficiency and profitability while aligning with broader governance structures.
The deliberations fostered greater collaboration between security agencies and business entities, setting a framework for improved operational standards.
In his vote of thanks, the NCS Director of Legal Services, Smart Akande, Esq., commended CGC Adeniyi and his management team for initiating the event.
He also expressed appreciation to the esteemed speakers and participants for their insightful contributions.
“Your perspectives have enriched our understanding of operational best practices for government-owned companies,” Akande stated.
The roundtable discussion concluded with a renewed commitment from participants to strengthening governance structures, enhancing operational efficiency, and ensuring that government-owned enterprises remain viable contributors to national economic growth.
