Corporate Social Responsibility (CSR) By Mayor Ndukaku, Esq.

INTODUCTION Symbiosis has been defined as any type of close and long-term biological interaction or relationship between two different biological organisms, be it mutualistic or parasitic. Corporate Social Responsibility (CSR) is a corporation’s initiative to assess and take responsibility for the company’s effects on environmental and social Wellbeing. Suffice to say, the fulcrum of Corporate Social Responsibility is to give back to the society a form of benefit as a result of a corresponding duty of an institution in taking account of their social, economic and environmental impact and consideration of human rights. In relation to the above, the relationship that exists between institutions, the government and her citizens can best be described as a mutual symbiosis, where the government, the institutions and the citizens benefit from one another. The implication of this relationship is to ensure a constant growth and development of human capacity, economy, education health, etc., through the instrumentality of various Corporate Social Responsibilities (CSR). Corporate Social Responsibility has in no small measure positively affected the lives of Nigerians at large in diverse means and areas of endeavor. Historically, there has been a consistent growth and development in different areas, as a result of Corporate Social Responsibility embarked by institutions. GENERAL BACKGROUND OF CORPORATE SOCIAL RESPONSIBILITY IN NIGERIA The effects of globalimtion and global capitalism was the domineering issue in late 1980s. Scholars all over Nigeria engaged in diverse means of exploration in order to profer solution to wealth creation. As a result of the continued obvious disparity in the income of nations, the need for a strong and moral ecology which reflects the social and cultural mores of the society. Nevertheless, the reality of this development needed the support of both the government, stakeholders and private business sectors; hence, it is somewhat difficult to not to consider the private business sector as one of the main stakeholders in transforming and improving the society. Corporate Social Responsibility, being the set of standards to which a company Subscribes in Order to make its impact on society, has the potential to make positive contributions to the development of society and businesses. More and more organisations are beginning to see the benefits from setting up strategic Corporate Social Responsibility agenda. Studies have shown that CSR is spreading over the world and in recent years, a large number of methods and frameworks have been developed, the majority being in the West. In the opinion of (Amaechi .4di, Ogbechie & Amao 2006) with regard to Nigeria, studies on CSR do exist, however, the larger concentration seem to be on multinational companies and less neither On indigenous companies nor on the regional contexts in which the companies operate. This opinion however, may not be relevant anymore, considering the fact that a lot of developments on CSR from indigenous institutions have largely been recorded over the years. A plethora Of instances include but not limited to the following: l . NNPC annual quiz competition centered on the study of science, engineering, mathematics and technology, which started in 2000 exclusively for Niger Delta indigenes but subsequently applied to all citizens of Nigeria in 2001. This helped in providing a level field for students irrespective of gender and social background across Nigeria. 2. SE PLAT Petroleum conducted 2017/2018 National undergraduate scholarship PEARLS quiz, Post-primary scholarship programme, empowerment /capacity building, safe motherhood programme, Eye can see programme, Building community relationships through stewardship initiatives. 3. TOTAL Nigerian Plc. conducted skill acquisition, total job shadow 2017 Essay competition awards, corporate sponsorship of a house with the SOS children’s villages in Nigeria. Financial institutions have not been left out in the pursuit of CSR. They have taken a different dimension. E.g., environmental beautification, environmental protection renewal, etc. From the foregoing, it is beyond mere words to asseverate that CSR has taken a strong root in our various communities and the society at large especially, On the part of our indigenous institutions. INNOVATIVE SOCIAL INITIATIVES Institutions have engaged in diverse CSR initiatives that has in no small measure •affected the lives of the citizens positively. Below are some of the innovative social initiatives that can be employed to strengthen the goal of corporate social responsibility. l . Entrepreneurs Empowering – This is one of the ways to make a long lasting impact on the society through CSR. Here, financial institutions can give out unsecured/minimal loans to small scale business Owners to help tackle unemployment and strengthen the spirit of entrepreneurship; creating financial independence amongst Nigerian youths. 2, Partnerships with NGOS- CSR should not be done as a form Of competition either to impress or please anyone, rather, should be done with the mindset of achieving a positive impact in the society through collaborative means. For instance, a non-governmental organization committed to improving healthcare can partner with an institution to deliver quality Corporate Social help in that area. 3. Methodology- it is paramount at this point to mention that the viability of Corporate Social Responsibility is dependent on the extent of its classification to various sectors. In other words, various organisations should be tied down to a particular sector. By this, the impact of CSR will be felt and the need sought to be addressed would be done based on necessity. For instance, legal institutions engaged in CSR should not go about sharing books to students, rather, should be more concerned with sensitizing people on their rights, strengthen public interest litigation, probono legal services, etc. this same principle applies to every institution involved in CSR. CONCLUSION In the course of my research, I discovered that a lot of institutions have been engaged in almost all the above mentioned Corporate social initiatives. Nevertheless, the issue of sustainability has remained unresolved. In an interview with a bank staff, I discovered that they hardly sustain a particular corporate social initiative. For instance, scholarship grants, medicals, etc. Personally, the impact of CSR in any given society can be felt through sustainability.]]>