The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has called on Guinness Nigeria Plc to sustain strict adherence to regulatory standards in the conduct of its business operations in the country.
Olukoyede made the remarks while receiving a delegation from the company led by its Managing Director and Chief Executive Officer, Mr. Girish Sharma, at the EFCC headquarters.
He stressed that regulatory compliance remains essential for sustainable business growth, warning that non-compliance often results in greater long-term costs.
“I want to thank you for what you stand for. I heard your director talking of compliance. That’s one of the things you must hold very dear to your heart if you don’t want to have any problems,”
According to him, compliance is more cost-effective than facing the consequences of violations, adding that businesses that adhere to regulations are better positioned for long-term success.
“Whatever you think you are saving by not complying, you will lose with time. It’s never too expensive to comply,”
The EFCC Chairman also highlighted the Commission’s preventive approach to financial crimes, noting that beyond investigation and prosecution, it works closely with both public and private sector organisations to reduce risks of violations.
He explained that the Commission’s Fraud Risk Assessment and Control Department engages ministries, departments, agencies, and private companies to evaluate operational risks and strengthen internal controls.
Olukoyede further stressed the importance of tax compliance, noting that failure to file tax returns or pay appropriate taxes constitutes an offence under Nigerian law.
“We no longer wait for people to commit crime, we work with them to prevent the commission of crimes,”
Responding Mr. Girish Sharma reaffirmed Guinness Nigeria’s long-standing confidence in the Nigerian economy, noting that the company has operated in the country for 76 years despite economic challenges and industry exits.
He emphasized that the company remains committed to Nigeria and continues to operate in line with regulatory expectations.
Presenting an overview of the company’s operations, Corporate Relations and Legal Director, Mr. Rotimi Odusola, said Guinness Nigeria is strongly guided by compliance, corporate responsibility, and ethical business practices.
“One thing that we are proud of as a company is that we do business the right way. We believe that there is no right way to do the wrong thing,” he said.
He added that adherence to laws, regulations, and standards remains central to the company’s operations and corporate philosophy.
The EFCC reiterated its willingness to collaborate with corporate organisations in promoting transparency, preventing financial crimes, and supporting responsible business practices that contribute to national economic development.