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The 18th President of the Chartered Institute of Directors, Nigeria, Alhaji. Tijjani Borodo, has pledged to promote corporate governance anchored on three R’s: “Review, Reform and Reinvigorate.” He gave this assurance at his formal inauguration in Lagos.

He informed members of the institute and stakeholders that the initiatives of his predecessor Dr. Ije Jidenma, would be sustained. Some of these are the ‘Inclusiveness’ program and the ‘CIoD Towers’ completion. 

Mr. Borodo also stated that his tenure would prioritize membership and branch development for the institute and beam the searchlight on the already existing “Young Directors Programme”. He also mentioned that the CIoD will intensify the drive for partnership with professional bodies in the country and deepen inclusion in the standing committees.

He added, “Our focus will be to work with existing partners and expand it to promote corporate governance in a manner geared towards attracting foreign direct investments into the country.”

In his remarks, the Chairman of the occasion, Chief (Dr) Olusegun Osunkeye, CON, believed the emergence of the 18th President of CIoD has come at a time when the corporate governance code needs to be strengthened at the public sector level.

He urged Mr Tijani Borodo to, as part of his agenda, including advocacy for the promulgation of the governance code for the public sector in Nigeria. The notable boardroom guru added that the corporate governance code is needed across all government ministries, departments, and agencies.

The guest speaker at the event and Group CEO of the Nigeria Exchange Group, NGX, Mr Oscar Onyema, OON, stressed the point that the recently enacted Chartered Institute of Directors, Nigeria (Establishment) Act, 2023, provides a legal framework that strengthens the institute’s authority and expands its responsibilities. This, he said, brings both challenges and opportunities for the organization.

According to him, with the new legal powers and the increased focus on transparency and governance, CIoD Nigeria can play a pivotal role in driving improvements in board composition, disclosure, and evaluation practices among its charter holders, and this will enhance corporate performance and reputation.

He pointed out that corporate governance and leadership development are critical pillars of the development and sustainability of organizations.

Speaking further on opportunities for the CIoD, especially in Environment, Social and Governance, ESG, he said, “As sustainability standards become more prevalent, the CIoD Nigeria can help companies adapt and meet disclosure requirements. With its established reputation, the institute can advocate for policies and practices that foster growth and innovation, aligning with broader national and global governance trends”.

Onyema also noted that the institute’s Chartered status allows it to enhance the composition and evaluation of board effectiveness, equipping Directors to be promoters of corporate governance in the country.

For challenges, he highlighted that the CIoD will have to establish branches across the 36 states of the federation, which will require logistics, infrastructure, financial resources, and staffing. He also listed the funding options the institute must address to achieve sustainability, including subscriptions, penalties, and donations.

The event also featured goodwill messages from the representatives of the Emir of Kano and Governor of Zamfara State to the 18th President of the CIoD.

The Chartered Institute of Directors, Nigeria, is the apex professional body in Nigeria with a mandate to cater for and represent Directors in their individual capacities across the various sectors of the economy.

Culled from: https://proshare.co/articles/18th-ciod-president-tijjani-borodo-to-prioritize-the-promotion-of-excellence-in-corporate-governance-in-nigeria?menu=Business&classification=Read&category=Associations%20%26%20Practice