Prof Ben Chuka Osisioma

Corporate governance deals with the mechanism by which stakeholders of a company exercise control over corporate managers and provide overall direction to the firm, such that stakeholders’ interests are protected. In such a situation, the firm operates more responsibly and profitably, relations are enhanced between the firm and all stakeholders - shareholders, policyholders, employees, suppliers and society at large - the quality of executive and non-executive directors is improved, the firm thinks long-term, information needs of all stakeholders are satisfied, and executive management is monitored properly in the interest of shareholders. The role of the accountant in this setting, is to maintain proper balance between the components of the system, ensure that the audit and accounting tools are playing proper governance roles, and that the pillars of good governance procedures are well in place.
Keywords: Corporate Governance, Accountability, Accountant, Stakeholders.

Great nations, like great organisations, are the extended shadows of great leaders. South Africa produced her Nelson Mandela, France produced her Charles de Gaulle, and Singapore her Lee Kuan Yew. Nigeria needs leaders in this genre in order to transit from a potentially great country, to a truly great nation. Public institutions must conduct public affairs and manage public resources in a manner that guarantees sustainable human development in an atmosphere of due process and rule of law, free from abuse and corruption. That is the quintessential challenge of transformative and public governance in Nigeria. Keywords: Management, Leadership, Transformation, Governance, Transactional Leadership, Transformational Leadership.

Nigeria’s President won the 2011 Federal Government elections on the groundswell of popular support and the promise of a transformation agenda. Transformation is a strong word that portends a radical, structural and fundamental reappraisal of the basic assumptions that underlie our reforms and developmental efforts. The challenge before government is how to move the nation away from an oil-dominated economy, institute the basics for a private-sector driven economy, build the local economy on international best practices, transform a passive oil industry to a more pro-active one, and restructure the country along the lines of a more decentralized federalism. But beyond this, there are management and leadership challenges to contend with - building an efficient and effective polity, inspiring a shared vision, remodelling a corrupt polity, building character and integrity in our leaders, redefining the imperatives of transformational leadership, and creating the Nigerian dream that will inspire patriotism and commitment in the citizenry.
Keywords: Reforms, Transformation, Governance, Management, Leadership.

The spate of global scandals and corporate misadventures that began with the energy giant, Enron in the years 2000 to 2002, the Asian Financial Crisis of 1997/98, and the global Financial Meltdown of 2008, rocked the accountancy profession and sharply drew attention to the need for the profession to re-invent itself and re-define its focus in the new millennium. Accounting practitioners world-wide, have tested the limits of creative accounting, and the verdict of the marketplace is that the era of sharp and unwholesome practices are over for good. Part of the professional response to challenge of this era, is the growth of fraud management and forensic accounting, as a distinct practice within the discipline. This paper explores how the forensic accountant can contribute meaningfully in the fight against fraud and white-collar crimes.
Keywords: Forensic Accounting, Forensic Audit, Fraudster, Detection Techniques.

Good public governance involves the management of public resources in a manner that guarantees sustainable development in an atmosphere of due process and rule of law, free from wastage and corruption. The goal is to guarantee a people’s right to health, adequate housing, sufficient food and fibre provision, quality education, fair justice and personal security. Good governance is rooted in quality institutions, informed and adequately motivated citizenry, and structures and processes that endure. The budget and audit tools are critical to the process, and within the requirements of accountability framework can bring the so-called dividends of democracy to citizens. In the final analysis, governance is enhanced by creative oversight and accountability, continuous improvement of organisational performance, the management of risk, management of conflict of interest situations, policy and strategy implementation, and promotion of integrity.

Keywords: Budgeting, Accountability, Governance, Auditing, Public Sector. I

Nigeria has paid dearly for ethical lapses and competency deficiencies in public and private life. Fraud is systemic in Nigeria with the ordinary citizen being compelled to be either a liar, a cheat or an outright thief. Fraud has stultified growth and national development, subverted the nation’s values and norms, generated a culture of illegality and impunity in public service, and frittered away the promise of the nation’s future. Today, the nation faces the trauma of a State whose date with destiny has been put on hold, for reasons that are completely self made, and completely avoidable. Any remedial measure that does not address core and ingrained character defects in leaders and followers, will not attract great success. What is needed is a strong accountability framework, an integrity system that is efficient in design and effective in operation, and a new generation of leaders. The choice before the nation is simple: Bend or Break... Value recreation is a must. We may be disappointed if we fail; but we are doomed if we do not try.

Keywords: Fraud, Corruption, White-Collar Crimes. I.

Passion is great enthusiasm, very strong emotion, a willingness to sacrifice. Men and women with passion outpace themselves as they go beyond mere talent, to leave their impact on society. Nigerian education needs teachers with passion – men and women with fire in their bones, impatient for lasting and enduring results. Such extra-ordinary pedagogues are people who will give themselves as ministers and missionaries in the temple of education.
Keywords: Teacher, Student, Education, Misconduct, Passion, National Policy on Education, Code of Ethics.

The University system is committed to the principles of good governance which ensure that the Institution is ‚fit for its purpose‛ as an organization put in place for teaching, research and consultancy and professional services to the community. The principles demand a response to the challenge of operational dexterity, technical ingenuity, strategic relevance, African persona and political deftness as part of the task of modernization of the governance of higher education. The task of the Internal Auditor is five-fold – to provide transparency and act as an advisory body to senior management, to identify underperforming areas and opportunities for improvement and potential synergies, to consolidate information in a consistent way to maintain an audit trail and facilitate reporting, to include a risk perspective throughout the audit function, and to turn internal audit into an operational governance tool.
Keywords: University system, Governance, Higher Education, Internal Controls, Internal Audit, Auditor.

Nigeria has proved that it takes more than mere potentials to transit to true greatness. In spite of a glut in human, natural and material resources, the nation is weighed down by an unfortunate interplay of factors. The emergence of the military as an armed political party, the near ‚cardiac arrest‛ of the oil-rich Niger-Delta otherwise called ‚the heart of the Nigerian economy‛, the excesses of Islamic fundamentalism in the North, the ferment of Yoruba dissent and insurgence in the West, and the growing restlessness of the marginalised Igbos of the South-East, all portend ominous signs for the Nigerian federation - a deadly and inflammable cocktail that could ignite and inflame passions in the nation. This paper offers the Zikist principles of compromise, negotiation and accommodation to ease the tensions in the land. If Europe was built out of the colonial exploitation of Africa in the 17th and 18th centuries, and modern American was built on the sweat and tears of slaves transported across the Atlantic ocean in inhuman and dehumanizing conditions, then modern Nigeria seems to be built on the rape and abuse of the South-South and South-East regions where much of Nigeria’s oil is mined. Only equity, fairness and natural justice in the allocation of the nation’s abundant resources, will enable the land and her people be at peace.
Keywords: Federalism, Unity, Diversity, Ethnic Conflicts, Nationalism, Zikism.

Nigeria’s President won the 2011 Federal Government elections on the groundswell of popular support, and the promise of a transformation agenda. Transformation is a strong word that portends a radical, structural and fundamental reappraisal of the basic assumptions that underlie our reforms and developmental efforts. The challenge before government is how to move the nation away from an oil-dominated economy, institute the
basics for a private-sector driven economy, build the local economy on international best practices, transform a passive oil industry to a more proactive one, and restructure the country along the lines of a more decentralized federalism. But beyond this, there are management and leadership challenges to contend with - building an efficient and effective polity, inspiring a shared vison, remodelling a corrupt polity, building character and integrity in our leaders, redefining the imperatives of transformational leadership, and creating the Nigerian dream that will inspire patriotism and commitment in the citizenry.