FirstBank, UNILAG Renew Commitment to Business Ethics, SME Development
FirstBank, UNILAG Renew Commitment to Business Ethics, SME Development
FirstBank Nigeria Limited and the University of Lagos (UNILAG) have reaffirmed their commitment to promoting ethical business practices, academic research and sustainable development among small businesses and operators in Nigeria’s informal economy.
The commitment was highlighted at the public lecture of the FirstBank Samuel Asabia Professorial Chair in Business Ethics, held at the George Ade Ajayi Auditorium, UNILAG. The lecture brought together academics and industry stakeholders to examine the challenges facing small businesses, particularly in the areas of ethics, taxation, accountability and access to support.
Speaking at the event, FirstBank Group Managing Director and Chief Executive Officer, Olusegun Alebiosu, said ethical practices and sustainability should work together to strengthen businesses. He noted that many informal businesses operate with limited access to finance, infrastructure, technical capacity and formal business structures.
The inaugural occupant of the Chair, Prof. Kenneth Amaeshi, also called for greater recognition of the informal sector, stressing its importance to employment and economic activity. He said efforts to formalise small businesses should be accompanied by greater transparency and accountability in the use of tax revenues.
The partnership between FirstBank and UNILAG is expected to continue using academic research and public engagement to promote practical approaches to ethical business practices and sustainable enterprise development.
