COMPLIANCE CULTURE FOSTERS SUSTAINABLE DEVELOPMENT – COMMISSIONER … Says Commerce Thrives in an Environment of Trust, Integrity

… Says Commerce Thrives in an Environment of Trust, Integrity

Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada-Ambrose has affirmed that Lagos State’s position as the nation’s commercial centre carries a compelling responsibility to entrench compliance, build a culture of integrity, and ensure the consequences of governance are transparent, just, and developmental.

Mrs. Bada-Ambrose stated this at the Investigations, Compliance and Ethics (I.C.E.) Summit 2025, organised by Udo Udoma and Belo-Osagie in Lagos on Thursday, with the theme: “Compliance Culture and Consequence: The Blueprint for Corporate Integrity”.

Speaking at the event, the Commissioner remarked that organisations face mounting challenges in navigating regulatory complexities, managing ethical responsibilities, and safeguarding stakeholder trust in an age defined by rapid technological, economic, and political shifts.

The Commissioner noted that one of the greatest lessons from recent global financial crises, as well as corporate governance scandals that shook institutions worldwide, is that compliance cannot be treated as a box-ticking exercise. Culture is not an add-on to strategy; it is the very essence of strategy.

Bada Ambrose said, “In Lagos, we are rethinking our approach to compliance, not merely as adherence to rules, but as the creation of systems and processes that build trust between government, business, and the people. This is why we continue to prioritise transparent procurement processes, fiscal discipline, and the digitisation of government services to reduce human interference and enhance accountability.

The Commissioner expressed the dedication of the State to building institutions that promote ethical business practices like Lagos State Consumer Protection Agency (LASCOPA), and invited stakeholders – corporate leaders, regulators, investors, and civil society, to support the State in entrenching integrity at the core of every institution.