Chizor Malize, CEO, Financial Institutions Training Centre (FITC), at the 2022 Nigerian Risk Leadership Summit & Awards hosted by Conrad Clark in Lagos recently, with the theme ‘Tech in Risk Governance & Leadership’ stated that government agencies and organisations at all levels need to implement a vision and strategy driven by the application of digital technology to ensure effective operations as it is one of the most critical tools for leaders to explore for nation building, capacity development, acceleration of economic growth, and risk management capabilities.
In her presentation titled ‘Public Accountability, Transparency and Big Data: Leveraging Information Technology to Drive Transformation, Boost Transparency and Enhance Positive Social Change’, Malize, who is also summit chairman, Nigerian Risk Awards (NRA), said that embedding digital technology ecosystems in the process of visioning and strategy development strengthens policies and frameworks for public sector accountability, boosts transparency and enhances positive social change.
Though the use of digital technology has increased exponentially, particularly in the twenty-first century, she pointed out that less than 25% of people in sub-Saharan Africa have access to digital services, indicating a significant divide between industrialized and developing countries in this regard.
According to the CEO of FITC, this heralds a chance for businesses and government organizations to utilize technology as a facilitator for efficient leadership and governance as well as a motivator for public sector accountability to increase transparency and promote beneficial social change.
“Research has shown that in fostering a technological framework towards the effective governance as well as the attainment of national and sustainable development goals in any nation, the first effective strategy would be the critical assessment or overhauling of the technology infrastructure to ensure an alignment of policies with Science, Technology, and Innovation (STI) goals,” she said.
Malize went on to say that she was confident that with time and consistency, digital technology in governance would become the best tool for protecting against a variety of issues, both economic and others.
She emphasized that Nigeria as a country may bring about social change in the areas of fiscal public engagement, accountability, enhanced revenue drive, and improved social, economic, and environmental results through the use of ICT.
She continued by saying that technological ecosystems are still expected to advance organizations’ and governments’ agendas as well as their ability to realize their vision and long-term objectives.
Malize outlined the various ways that technology can be used to advance governmental objectives. She added that in order to achieve and improve the country’s technological capacities for innovation in leadership and governance, government organizations must adopt workable technical experiments from educational institutions like the FITC digital learning solution.
“An ecosystem that supports research, development, and innovation, integrated with effective frameworks of governance is important in the achievement of national and SDG goals. However, there must also be the digitisation of governmental oversight functions to help drive transformation across board,” she said.
She acknowledged the difficulties that big data presents for accountability and transparency, but suggested that this should not deter governmental organizations and agencies from making the necessary investments and reaping the rewards of those investments.
In order to promote transformation, increase transparency, and strengthen beneficial social changes, Malize believed that this opportunity should be used to create methodological frameworks that take into account the advantages and disadvantages of the knowledge claims that are generated with a big data state of mind.
“Citizens and society are interested in a more transparent system, and demand accountability from both organizations and government agencies. To achieve this, leaders must fully embrace technology as the enabler for good governance. Government agencies at all levels must be guided and driven by digital technology-led strategies and ecosystems, as they strengthen policies and frameworks for public sector accountability, boost transparency and enhance positive social change,” she added.
The Nigerian Risk Awards and Leadership Summit (NRA), now in its 6th edition, was created to recognise and reward organisations and individuals who have achieved measurable results through good governance, internal controls, and risk management systems. The Summit is also dedicated to celebrating industry players who have developed creative and innovative solutions to overcome the challenges facing their businesses and organisations.
