The Federal Corporation of Nigeria.

A Publicly Traded Company for Nigerians.

This image is not mine. Duuuh.

By the time you’re done reading this, you may or may not deduce that this was curated by an individual with inadequate knowledge on the political structure of Nigeria. Or politics. Or Nigeria. :-)

Ok, in case you missed the implicit message in the previous line, I think it should be made clear that I’m no political enthusiast, so bear with me if some of the points below sound egregious or just outright ignorant.


Question!

What if Nigeria were run as a corporation? Would this evoke better accountability from government officials? Create transparency? Mitigate corruption? Circumvent all those other problems we face? Maybe, maybe not.

Few translations to help elucidate the points below:

Department = State

Senior Manager = Governor (Can be applied to any public position)

Organisation = Country (Nigeria)

Competition = Election

Shareholders = Citizens (Either of the state, or the country. Depends on the context).

Proposal = Proposal. Yes, an actual proposal. Documented proposal. No translation here.

So, How Does This Organisation Work?

Selecting Managers

  1. Both Mr. Kunle & Mr. Tunde are vying for Senior Manager of the Lagos Department.
  2. The shareholders will have to vote for whoever they deem fit for the role.
  3. In order to help shareholders cast meaningful votes, both candidates will create a proposal. This proposal will consist of milestones, deliverables, and all their promises to the Department should they become Senior Manager.
  4. Following the development of their proposals, each candidate will make a presentation to a number of shareholders, followed by an open Q&A session. A copy of the aforementioned proposal will also be disseminated across the media (online & offline) for public scrutiny by the entire organisation.
  5. The shareholders in the Lagos Department are given 7 days to analyse both proposals.
  6. After the analysis of both proposals, the shareholders can vote based on how each candidate plans to address the problems the Lagos Department faces, such as the terrible coffee machine, bad printers (roads), the sporadic pungent smell from the bathroom (high unemployment) and more (you get the gist, I hope).
  7. At the end of each quarter (Year), the Senior Manager will be evaluated by the shareholders, based on his accomplishments so far, in accordance with the promises made during the competition for the role. Although evaluation takes place every quarter, this doesn’t imply a transiency in the tenure of the Manager, it’s just an evaluation period. Whereas a competition, which takes place every 4 years will require a 4-year plan, presentation, and the whole shebang.

*Dodges Hot Slap*

I’m not living in a utopia, therefore, I understand these “Senior Managers” often make promises they don’t fulfil. So, how do we address that?

No. We will not be flogging Govt. Officials. Sorry.

Accountability Of Senior Managers

Based on the quarterly evaluation, if say, the Senior Manager fails to deliver on promises, either of the following actions can be taken:

  1. Remuneration Deduction: Following the terms on a contract which the Senior Manager must have signed during the competition, a pre-approved amount from the Manager’s salary will be deducted, as a penalty for the default on deliverables. Given this default was unrelated to any force majeure.
  2. Demotion (Impeachment): Based on a revote at the end of the quarter (Year), given the Senior Manager has failed to fulfil his/her promises for that quarter, the employees in the department can decide whether the Senior Manager should be demoted or remain as Senior Manager. Should the manager be demoted, he will be required to indemnify shareholders an agreed amount as stated in the contract.

How Do We Eradicate Corruption?

About that…

We Don’t. Simply because we can’t.

As you may or may not know, corruption has permeated every organisation across the world. The main difference between corruption in more developed organisations and corruption in The Federal Corporation of Nigeria Ltd. (TFCN Ltd.) is merely the level of inconspicuousness.

In developed organisations, whereas corruption is prevalent, or (believe it or not) even worse than that of TFCN Ltd., the topic remains at a minimal level of discussion amongst common shareholders.

Why? Well, the shareholders are focused on the performance of the Management Team (Senior Managers, etc), therefore, even though some Senior Managers might elicit a budget of N100 Million, for a project which only costs N50 Million, as long as the Senior Manager is able to PROPERLY deliver on this project, the shareholders don’t really care about the actual costs.

They care more about the outcome. They care about the results of the project, and the positive impact it has on their lives. They actually don’t care too much for the unseen corruption involved. They don’t waste resources chasing it.

Now, as to how we address corruption, this is what we implement in TFCN Ltd. As mentioned above, managers are held responsible for their actions. In a case where a Senior Manager nonchalantly displays acts of corruption, he will be held accountable at the end of the first quarter.

*Dodges simultaneous slaps*

The End.

I think.

Give up, bro.

Ok. It’s The End.