‘Deremi Atanda, the Managing Director of Remita Payment Services Limited (RPSL), a leading financial technology firm in Nigeria and across Africa, has urged businesses and stakeholders to adopt technology as a key driver for enhancing governance in the 21st century.
‘Deremi, in his paper presentation at the 2023 Chartered Institute of Directors (CIoD) Nigeria Fellows Night and investiture ceremony, which took place in Lagos asserted that business leaders can avoid corporate governance failures by leveraging technology for coordination, communication and collaboration.
“In the contemporary business landscape, technology isn’t merely an accessory, it is a pivotal force for organisations striving to maintain global competitiveness. Attaining top-tier corporate governance standards necessitates wholeheartedly embracing technology and undergoing a comprehensive digital transformation across all sectors. This commitment is not only timely but also imperative for organisations aspiring to be at the forefront of progress,” he remarked.
Corporate Governance plays a vital role in the lifecycle of any organisation and when done right protects stakeholders such as the employees, investors, customers, regulators, etc, boosts investor confidence and fosters business sustainability.
Citing an inference from other colossal corporations who have fallen at the Achilles heel of poor corporate governance, Deremi expounded on how Remita had helped and continues to assist various organisations in improving their corporate governance structure and thus yielding positive fruits, such as reducing fraud, increasing efficiency, or ensuring compliance.
“As an institute, making a deliberate effort to minimise the occurrence of corporate governance failures stands as our utmost commitment. Harnessing technology for improved governance necessitates a primary focus on increasing awareness and advocating for a comprehensive understanding of the intricate facets of technological advancement,” he stated.
Speaking to the event’s theme: “Leveraging Technology for Enhanced 21st Century Governance” the Managing Director of Remita praised Nigeria’s advancements in contributing to global development through technology and emphasised the necessity to embrace a more technology-driven mindset across all sectors.
“We possess a vibrant and highly skilled workforce, a culturally rich and diverse heritage, and a resilient spirit. This positions us with a significant opportunity to harness technology for enhanced governance, ultimately yielding superior performance, outcomes, and impact. For us, technology should not be viewed merely as a tool, but as a mindset to be embraced and nurtured. It encompasses not only the tangible hardware, but also the intangible software, reflecting our thoughts, emotions, and convictions.”
“It is imperative that we discern not only what we achieve with it, but also the fundamental principles that underlie our actions—our sense of purpose, our ardour, and our ethical standards. Technology is not confined to the present; it is equally about shaping the future. Consequently, we must align our vision, objectives, and legacy with this forward-looking perspective.” ‘Deremi stated.
Africa boasts the world’s most youthful population, with 70% of sub-Saharan Africa’s populace being under the age of 30.
According to Deremi, this substantial demographic of young individuals signifies a vital group of stakeholders to be considered in corporate governance. Drawing from an example of how he utilised social media to address a concerned Remita customer, he encouraged business leaders to view digital media as a valuable opportunity for feedback aimed at enhancing internal procedures.
“Generally, the younger demographics are adept digital users, consistently connected, and they hold higher expectations from brands that cater to their needs. It is therefore imperative that we assume a more assertive role in articulating the value proposition of our businesses in this digitally interconnected world.” He stated.
The ceremony also witnessed the attendance of distinguished individuals from various sectors, and among them were Alhaji Tijani M. Borodo, President and Chairman of Council at CIoD Nigeria; Amina Oyagbola, Second Vice President at CIoD Nigeria; and Dele Alimi, Director General and CEO of CIoD Nigeria, along with other esteemed guests.
‘Deremi Atanda is a distinguished business leader and visionary known for his wealth of industry knowledge and expertise. His progressive mindset and unwavering dedication to collaboration have played a pivotal role in addressing social and economic challenges within the financial technology sector.
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