check this out! NNDC, one of the oldest and most impactful regional development finance institutions in Nigeria, is all set to launch its Code of Ethics and Business Conduct in Kaduna. This is a big deal because it’s a major step towards ensuring that NNDC and its subsidiaries uphold the highest standards of service delivery and ethical values. The code is all about rewarding good behavior and cracking down on misconduct.
NNDC has been around for a long time, even before Nigeria gained independence. It was first established in 1949 as the Northern Regional Production Development Board and has since evolved into the New Nigeria Development Company. Over the years, NNDC has been a key player in driving entrepreneurship in the Northern region and beyond, bringing together business, government, academia, and the community. It’s jointly owned by the governments of Nigeria’s 19 Northern States and has a strong presence in various sectors including agriculture, real estate, manufacturing, hospitality, oil and gas, telecommunications, and the capital market. As a holding company, it offers a wide range of services such as equity participation, project planning, consultancy, legal services, and more.
NNDC’s subsidiaries and investments are spread across Nigeria, with a notable achievement being the commissioning of the Kolmani River II oil field last year. This project is expected to lead to the development of oil and gas processing facilities, refineries, fertilizer manufacturing, and power plants in the area.
To ensure that NNDC maintains its culture of responsibility and development, the Board has adopted the Code of Ethics and Business Conduct. This code outlines NNDC’s commitment to its stakeholders, promising profitability for shareholders, a conducive working environment for employees, and responsible investment for communities. It applies to all entities under the NNDC Group, and everyone involved, including directors, managers, employees, and business partners, must adhere to it.
In addition to the code, NNDC is also implementing a Corporate Compliance and Ethics Program to ensure compliance with laws and regulations. The Group Managing Director/CEO, Shehu Mai-Bornu, emphasized the importance of updating business practices and upholding corporate governance standards in dealings with stakeholders.
With this new Code of Ethics and Business Conduct, NNDC is gearing up for even greater achievements in the future. It’s a positive step towards maintaining its strong presence in the world of investment and social responsibility.