Why public-private institutions’ future depends on ethics, good governance—Sulaimon

…Delivers UNILAG’s 451 and fifth inaugural lecture in 2025/2026

As Nigeria faces growing social and economic pressures in public and private institutions, Abdul-Hameed Sulaimon, dean of the faculty of management sciences at the University of Lagos, explored why ethical conduct and sound governance must drive institutional progress.

Sulaimon, who delivered the 451 inaugural lecture of the university titled, “Good Ethical Conduct, Corporate Social Responsibility and Corporate Governance Compliance: Whose Interest?” explored the interconnectedness of ethics, corporate social responsibility, and corporate governance as the bedrock of sustainable development in both private and public institutions.

He argued that genuine economic, social and institutional progress depends on ethical compliance that transcends mere legal obedience, aligning morality, transparency and accountability with organisational purpose.

“Ethics, corporate social responsibility and governance are not isolated ideals, but a strategic trinity that determines long-term sustainability.

“Ethical conduct is crucial to institutional success and sustainability,” he asserted.

Sulaimon used practical illustrations such as the contrasting post-election conduct of Presidents Goodluck Jonathan, and Donald Trump to bring ethical decision-making to life within political, business and societal contexts.

“When faced with a situation of choosing between what is legally right and morally correct, the common good of all should take preference over personal gain, Jonathan, the former President of Nigeria who lost election as incumbent.

Being ethical will always serve the common good of the larger society as against being compliant which requires people to behave ethically to avoid sanctions,” he said.

Contrasting this with the Trump during his first term as president of the United States of America who lost election as incumbent.

“For me, being ethically compliant suggests the need to have an appropriate blend of ethics and compliance, morality and legality, persuasion and sanction, and applying a contingency management approach rather than a one fit all approach.

“My advocacy for ethical compliance is for businesses to behave like responsible citizens, carrying out their operations in a sustainable manner and within the confines of the law,” he stated.

Importance of a strong ethical compass in navigating complex situations: Multiple stakeholder dilemma

Sulaimon reiterated that if a company wants stakeholders to feel and act positively towards it, the company must first make meaningful contributions to their lives.

He emphasised that the goal of maximising profit for shareholders and ensuring fair wages for employees can constitute an area of conflict.

“In reality, ethical conduct is simple to understand but difficult to practice in all aspects of an organisation when it does not consider the stakeholder approach, hence, a business must be ethically aware of the watchful, educated and sometimes, emotionally charged stakeholders when carrying out their long term goals,” he asserted.

The Oyo State-born professor urges business owners to go beyond mere following the regulation to being ethical in their actions.

Ethical consideration, he said remains a viable means of evaluating and discrediting actions that are inimical to human existence/general good even when such actions have coverage in the legal framework. “Therefore, simply following regulations may not be enough for business conducts both in the private and public sectors.

“People are getting more understanding of how much a company depends on them to remain competitive. The assumption that a business may not need to worry about anything else once it is complying with basic legal obligations may be more harmful to a company in today’s world as people with multiple identities are requesting that a company consider the implications of their business activities or avoid irresponsible business,” he noted.

Leadership and ethical culture

The dean of management sciences emphasized that leadership is essential in determining the ethical culture of an organisation.

“By making ethical decisions, holding others accountable and modelling integrity, effective leaders set the tendency for ethical behaviour and through which organisations can cultivate a culture of respect, trust and responsibility among employees thereby resulting in improved ethical outcomes,” he said.

Whose interest matters?

Sulaimon emphasised that the real question, “Whose interest?” must always be answered through the lens of collective well-being.

Ethical conduct, corporate governance, and CSR ultimately serve humanity’s shared interest. “Ethics gives a human face to business actions; without it, progress becomes prosperity without peace. Effective corporate governance, corporate social responsibility, and ethical practices are not invariably the optimal selections.

“These strategic imperatives are advantageous for sustained development and progress as they address a varied array of stakeholders. Comprehending who benefits from these actions relies on the interconnection of stakeholder interests,” he said.

He advocates strengthening of Nigeria’s laws and regulations as well as the collaborative effort of all and sundry to move with the trend of the times in ensuring that good ethical conducts, CSR or corporate governance is achieved.

Charles Ogwo is a proactive journalist, driving education, and business innovations for over 10 years.

He leads initiatives leveraging tech to enhance storytelling and build topnotch performing team.

Charles is passionate about harnessing technology to inform, engage and empower communities.

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