In today’s parliamentary session, Hon. Moshood Kayode Akiolu led a compelling debate on a proposed bill that could have profound implications for the regulation and professionalization of the third sector. This legislation, titled “A Bill for an Act to Provide for Establishment of the Chartered Institute of Cooperatives and Social Enterprise Management,” aims to establish a regulatory body tasked with controlling and defining the standards of knowledge required for individuals aspiring to become chartered cooperators and social entrepreneurs.
The bill, which recently entered its second reading, was co-sponsored by Hon. Benjamin Okezie Kalu, Hon. Ebikake Enenimiete, Hon. Eze Nwachukwu Eze, Hon. Mansur Manu Soro, Hon. Shaibu Idris, and Hon. Yusuf Saidu Miga. Its primary objective is to address the critical need for professionalization within the third sector, promoting higher standards through quality training, operational compliance with existing laws, ethical observance, and self-regulation of its members.
During the debate, Hon. Akiolu emphasized the importance of practitioners within the third sector acting professionally and being accountable. He noted that this not only benefits the sector itself but also the broader society by preserving the guild’s reputation in accordance with the law.
Furthermore, Hon. Akiolu argued that while the traditional focus of the third sector had been on social welfare, including areas such as education, housing, health, and social justice, recent years have seen a shift towards providing infrastructural services like community waste management. Support for the unemployed has also expanded, encompassing the provision of basic necessities and re-skilling initiatives to help individuals adapt to changing work environments.
In the absence of typical professional characteristics, humanitarian work has evolved into a full-time occupation over the past three decades. Although training is taking place, it lacks a standardized approach. The bill seeks to address this issue by establishing the Chartered Institute of Cooperatives and Social Enterprise Management, which would define competencies, create a means of distinguishing competent practitioners from others, and introduce mechanisms for licensing, certification, and a code of ethics within the humanitarian sector.
Volunteer managers, who often face unique challenges compared to their counterparts managing paid staff, would also benefit from the proposed institute. Volunteers do not receive monetary rewards, making it more challenging to implement traditional management methods. The institute would work to develop creative and sensitive management approaches, contributing to better management, professional standards, and the professionalization of volunteer managers.
Among the institute’s objectives are providing qualitative training, collaborating with regulatory authorities for compliance with existing laws, empowering cooperatives and social enterprises, and enhancing access to financial market instruments for long-term investments.
The bill, consisting of fifteen sections and two schedules, has now entered its second reading. The sponsors of the bill have called upon their fellow legislators to support it and refer it to the relevant committee for further legislative action. If passed, this bill could pave the way for improved professional standards and accountability within the third sector, benefiting society at large by promoting ethical practices and legal compliance.
