Public Institutions Can’t Attract Funds Without Credibility—NIGCOMSAT Boss

The Managing Director and Chief Executive Officer of Nigerian Communications Satellite Limited, Jane Egerton-Idehen, has advised leaders of public institutions to improve their financial credibility before seeking additional funding to support institutional reforms.

Egerton-Idehen made the call during an episode of the Aig-Imoukhuede Foundation Podcast, moderated by Fatima Kere-Ahmed, Acting Director of the Process of Crime Recovery Management Department at the Code of Conduct Bureau.

The episode was published on the foundation’s YouTube channel.

She said public institutions seeking sustained investment must first demonstrate their ability to properly manage and utilise the resources already available to them.

According to Egerton-Idehen, transparent financial reporting and consistent achievement of institutional targets are essential steps towards building trust among potential funders and partners.

She noted that financial credibility should not be judged solely by an institution’s ability to generate commercial returns.

Rather, indicators such as clean audit reports, effective organisational structures and evidence of responsible financial management are also important.

Egerton-Idehen also encouraged public institutions to embrace proactive transparency by publishing relevant financial information without waiting for stakeholders to request it.

She said making financial records and other key information publicly available would help institutions build greater trust and demonstrate accountability.

Speaking on the issue, Africa Director of the MacArthur Foundation, Kole Shettima, agreed that trust is an important factor in funding decisions.

Shettima said there was no guaranteed formula for determining which institutional reforms would succeed, noting that funders often make calculated decisions based on the credibility, experience and level of trust they have in reform leaders and institutions.