The Corporate Affairs Commission (CAC) and the House of Representatives have partnered to improve the implementation of Corporate Social Responsibility (CSR) practices across Nigeria. Their collaboration focused on enhancing transparency, accountability, and encouraged businesses to disclose their CSR activities and performance.
This resolution was reached during a meeting in Abuja between the Chairman of the House of Representatives Committee on CSR, Hon. Prof. Oby Lilian Orogbu, and the Registrar-General/CEO of CAC, Hussaini Ishaq Magaji. The meeting marked a significant step toward fostering a more responsible and transparent business environment.
Hon. Oby Lilian Orogbu announced that the committee was organizing Nigeria’s first-ever National Summit on CSR. The summit will bring together stakeholders from both public and private sectors to discuss effective strategies for encouraging businesses to embrace CSR. The gathering aims to find solutions that will drive the culture of CSR implementation within Nigeria’s corporate landscape.
In response, CAC RG Hussaini Ishaq Magaji praised the initiative, noting that it would positively impact the country’s economic development. As the custodian of the national companies database, Magaji emphasized the crucial role CAC will play in enforcing CSR regulations once they are introduced by the legislature.
CAC RG also expressed strong support for the proposed CSR Bill and urged the House Committee to utilize existing legal provisions to ensure companies comply with CSR requirements. This would particularly apply to businesses operating in host communities across Nigeria.
