By Ken Chiwendu
The House of Representatives on Thursday considered for second reading,
a Bill for an Act to Regulate Corporate Social Responsibility( CSR )in Nigeria and other Related Matters.
Moving the motion for second reading of the Bill Hon. Olumide Osoba ( Ogun)stated that the bill seeks to regulate corporate social responsibility and ensure it is done in a sane business environment and not a skewed marketing scheme. He stressed the impact of social challenges on local businesses by the high influx of expatriate workers, especially those who are non-essential or professional staff.
While explaining that the bill seeks to ensure full monitoring and transparency of the practice for the protection of Nigerian workers and host communities,Osoba stated that the intended corporate social responsibility commission will first be domiciled in the relevant ministry of finance, budget and economic planning before it is later made independent.
Contributing to the debate,. Hon.Ahmadu Jaha( Borno )commended the spirit of the bill as it seeks to cure glaring manipulative problems and ensure funds are well channelled through the Ministry of Finance, Budget and Economic Planning. He called for proper scrutiny in the application of corporate social responsibility to provide for the critical needs of host communities and not just channel funds to a few individuals.
On his part,Hon. Billy Osawaru( Edo )also reiterated the importance of the judicious implementation of the intent of the bill to regulate corporate social responsibility in line with the renewed hope agenda of the federal government. This he stressed will go a long way in aiding the partnership between government and companies to develop society. He argued that corporate social responsibility should be incorporated into the Nigerian tax structure. He also stressed the need for the corporate social responsibility to be channeled to the critical needs of host communities to stop unrest and agitation by these frustrated host communities.
The bill was put to vote and referred to the House committee on Corporate Social Responsibility .
