That Bunmi Oni Debacle In Cadbury
Society for Ethics in Nigeria
into the allegations leveled against the erstwhile Managing Director of
Cadbury Nigeria, Mr. Bunmi Oni before writing this, but events are
moving in such a pace that as at now, a replacement has been appointed
for that lofty seat,albeit in acting capacity. But we all know that
such acting invariably become permanent over time. We are therefore
looking at a not too honourable exit of one of the finest gentlemen
that Nigeria ever spurned in the corporate world. It is so sad.
According to newspaper reports, Mr. Bunmi Oni is being investigated for
a breach of certain elements of Corporate Governance. Specifically,
records submitted as the final year situation report of Cadbury does
not jell with the foreign partners, who raised a query on same,and
which has resulted in the probe. This is a scenario played a few years
ago at Lever Brothers, where the then MD was also investigated on such
charges and exited the company ignominously.
What makes the case of Cadbury so sad and painful is the fact that just
a few months ago, this gentleman was chosen for the best Managing
Director award for the year 2005 by a popular and national newspaper
in the country.This same person is now being accused of indiscretions
in his dealing with the comapny that he was supposed to protect its
interest at all times.
The fact is that Nigerians are yet to wake up to the reality of
corporate governance and its inevitability in the performance of a
company. We still believe that companies are exempt when we talk of
governance. We think only of Corporate Governance as boardroom politics
only, and think of governance only in relation to the government of the
day.Therefore, all our focus is usually on the politicians. The truth
is that for us to develop as a country, notonly government has to be
ethically compliant, but everybody and every one of our activities
also.
No one has or is accusing Mr. Oni of stealing or embezzling funds here,
rather the question is more of ethical conduct in the running the
affairs of the company, such that the interest of all the stakeholders
are taken care of fairly. If for any reason he has failed to be totally
fair to all stakeholders of the company, then he is guilty of an
offence. This is what the partners are saying. Being fair in this case
therefore entails telling the truth about the true position of the
company at all times to the owners. Be it the big time shareholder, or
the small shareholder on the street. And that such telling should be
as it is without blemish or flourish.
I really pity our Mr. Oni. As a Nigerian at the head of a corporate
giant like Cadbury, it is really difficult to believe you can be wrong.
At a seminar recently, I was privileged to listen to him lecture on
Business Ethics, what struck me was his simplicity and concise
delivery. He lectured on this issue of corporate Governance and agreed
that Nigerian company heads need to get their acts together and cease
playing gods to the generally servile Nigerian followership. Rather, he
stated he would be happier to see a much more active stakeholders of
companies, that will question actions of company heads and by so doing
help to nudge them in the direction of ethical compliance. I agree with
him as this failure of the followership to give the necessary nudge to
our leaders is now responsible for the fall ofone ofthe icons of
corporate Nigeria.
The Society for Ethics in Nigeria believes from the foregoing that the
time is now for us to take the issue of ethics much more seriously
within, and not to wait until foreigners come to tell it to us. Such
waiting will only serve to erode what little credit rating we have and
lead to more economical woes for the country.
The Western investors have extensive ethics laws guiding their
operations both in and outside their countries. What happened to Mr.
Oni can happen to any corporate head who thinks erroneously that the
investments in their comapnies by foreigners only give them more money.
It is time they know that with such funds come responsibilty which is
taken seriouly indeed by these investors. The era of old boys syndrome
in business in past. The world is now a global village, and any action
or inaction can be read and correctly interpreted very quickly by
dicerning investors. Nigerian Managers must therefore wake up to their
corporate responsibilities and start putting ethical structures in
place, which will not only protect their investments, but their own
carrers as well.
On their own part,the government can can only help by adopting a
National Policy on Ethics to further push our corporate entities into
global landscape to ensure their ethics compliance at all times.
A word they say is enough for the wise.
Regards
Whiskey, I.U.
National Coordinator