The term whistleblower derives from the practice of English Bobbies (Police Constables), who would blow their whistles when they noticed the commission of a crime. The whistle would alert both law enforcement officers and the general public of danger. In modern day parlance it refers to an employee, former employee, or member of an organization, especially a business or government agency, who reports misconduct to people or entities that have the power and presumed willingness to take corrective action. The misconduct may be a violation of a policy, law, rule, regulation and/or a direct threat to public or corporate interest, such as fraud, health/safety violations, and corruption and which usually has adverse effects on the organization. Whistle blowing over the past few years has been a critical tool for exercising control over corporate organizations, by exposing wrong doing, and setting the machinery in motion for punishment of such wrong doings. it provides the platform for which prevention of such wrongdoing in the future can be put in place. Some famous whistleblowers include the following: • Jeffrey Wigand, a Brown & Williamson executive who exposed the Big Tobacco scandal, revealing that executives of the companies knew that cigarettes were addictive and approved the addition of carcinogenic ingredients to the cigarettes. • David Franklin, a former Parke- Davis employee (a division of <strong>Oando</strong>News 10 Whistle Whistle Blowing Blowing – – The The Corporate Corporate Guar Guard Guar Pfizer) who exposed illegal marketing of Neurontin (gabapentin), an epilepsy drug, for relieving pain, headaches, bipolar disorder and other psychiatric illnesses. The case revealed that the company marketed the drug for these illnesses while withholding evidence that the drug was not effective for these illnesses. After initially denying wrongdoing, Pfizer pleaded guilty to criminal violation of the Food, Drug and Cosmetics Act and paid criminal and civil fines of $430 million dollars. • Linda Tripp, a former White House staff member who disclosed to the Office of Independent Counsel that Monica Lewinsky committed perjury and attempted to suborn perjury, and President Bill Clinton committed misconduct, by denying the Clinton-Lewinsky relationship in the Paula Jones federal civil rights suit. The Board of Directors recently approved a Whistle Blowing Policy for the Company, being a World Class entity and a champion of good Corporate Governance The Policy enables staff to raise certain concerns about the following activities; • Crimes; • Fraud, bribery and corruption; • Contravention of the code of business conduct & ethics e.g. insider dealing, conflict of interest, facilitation payments, etc; • Abuse of office or responsibility in connection with unauthorized activity for personal gain; • Compromise of company’s EHSQ procedures; • Sexual or physical abuse; • Other unethical behaviour. in a confidential manner, and receive feedback on the action taken. A key feature of the whistle blowing process is the need to maintain confidence and protect the identity of a reporter where possible.. To further underscore the importance of whistle blowing in corporate governance the Investment and Securities Act 2007 in one of its innovative provisions provides statutory backing for whistle blowing in Section 306 as follows: “An employee of a public company shall have the right to disclose any information connected with the activities of his work place which tends to show that a criminal offence has been, is being, or is likely to be committed, that a person has failed, is failing, or is likely to fail or omit to comply with a legal obligation, or that such crime, failure or omission is likely to be deliberately concealed “ The Act also makes provision for protection of such employees in Section 306(5): “No employee shall be made to suffer any detriment on the ground that he has made a disclosure under the Act. Where an employee suffers any detriment for such a disclosure, he can make a complaint to the SEC, and the SEC after investigation if it finds that this provision has been contravened, order the reinstatement and payment of compensation to the employee, where the employee is dismissed the employee shall be entitled to compensation which shall be calculated as if he had attained the maximum age of retirement or had served the maximum period of service” It should be noted however that such reports made by employees should be in good faith, it does not matter that the report is wrong as long as the reporter had an honest belief that the report is genuine. It should also be noted that whistle blowing is a tool which is used to protect a company and not one which is used to harm it. for example if this process is not put in place the reporter may feel compelled to make the report to the press or a law enforcement agency, this will certainly expose the company to adverse publicity which is certainly not good for any public company. A hotline facility is a critical tool in the implementation of the whistle blowing process. A hotline is usually operated by an independent company which will provide different means of making anonymous reports (telephone, email, fax). The purpose of the hotline is to encourage reporting of suspected wrongdoing and to assist in the detection of fraud. In conclusion, all staff have a duty to ensure the overall success and growth of our company, this is one of the ways by which the Company can gain its rightful place amongst other International blue chip companies that have imbibed good corporate governance. By Ani Chikere Obinna Compliance Officer
Social Diary Bamidele Odufuye and Naomi Odufuye (EHSQ) (R) during their engagement ceremony at the Emokaro residence in Lagos. Oyedayo Oyefi (HCM) and his lovely bride Titilayo during their engagement ceremony at Vining Hall, Archbishop Vining Memorial Church, GRA, Ikeja, Lagos. Ngozika Achebe’s (HCM) son, Chimdile was one on Saturday 6th September, 2008 (L-R) Ezekiel Oloko, Samuel Boyo, Hassan Lawal, Hakeem Reheem, Innocent Akpan, Akpo Owhojegheri, Joseph Sanyaolu, <strong>Oando</strong> drivers who recently graduated from police college Ikeja, Mor More Mor e pictur pictures pictur es fr from fr om <strong>Oando</strong>s’ <strong>Oando</strong>s’ Half Half Y YYear Y ear TGIF TGIF Samuel Mbanaga, CS & L (L) and Toyin Araromi, Compliance Manager Wonuola Oyeledun, Ukinebo Isibor both of IT Dept with Joke Oyebanji, OEPL 11 <strong>Oando</strong>News
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