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By Henry Uche
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has charged institutions across board to entrench strong corporate governance as one of the pillars of economic growth and development. The minister made this call at the investiture ceremony of Otunba Adetunji Oyebanji, who took an oath of office as the 19th President and Chairman of Governing Council of the Chartered Institute of Directors – Nigeria (CIoD), in Lagos.
“Corporate governance is one of the pillars of the economy. When businesses are well governed, vision of the leadership, the structure, the accountability and the transparency is very important for every institution. I look forward to that strong collaboration and structure from new leadership of CIoD to do deliver on agenda” the Minister charged.
In his acceptance speech, Oyebanji unveiled a three-point agenda: Implementation, Collaboration, and Engagement, for his two years administration. The corporate governance expert pledged to forge alliances with reputable academic institutions, professional bodies and some international partners for the success of the body.
“We shall focus on implementation of our long time vision, meticulous plans, and ambitious goal. My tenure will be defined by a relentless focus on execution, and ensuring that every initiative, every project, and every policy has a clear roadmap and a designated team.
“We will consolidate the full implementation of the CloD Establishment Act, embedding its provisions into the very fabric of our governance and operations. We will ensure full compliance and implementation of the 5-year Strategic Plan approved by the Governing Council earlier this year.
“We will commence the long-anticipated CloD House project, by taking concrete steps towards its realization as a symbol of permanence, pride, and institutional identity. Also we shall roll out the Chartered Directors’ Certification Programme by the first quarter of 2026”.
CIoD’s President stressed that it was high time the Institute turned its words into actions, its promises into progress, and intentions into indelible impact.
On ‘collaboration’ he said his administration would deepen partnerships with the Federal Civil Service, Ministry of Finance Incorporated (MOFI), the National Institute for Policy and Strategic Studies (NIPSS), among others.
“Through the CloD Academy, we shall design standardized proposals for corporate training collaborations to deliver capacity-building initiatives.
“We shall strengthen our mentoring scheme based on recent assessments and feedback, to produces future-ready leaders in governance and enterprise. This will position CloD Nigeria as the undisputed epicenter of governance and leadership excellence across Africa”
On ‘engagement’ he said such must be deep, continuous, authentic and a living commitment. He noted that his tenure would foster a community where every member feels seen, heard and valued. “We will roll out a Member Engagement App, offering real-lime access to Institute activities and opportunities, engage past presidents and elders. We shall deepen our relationship with our Young Directors Forum to ensure they deliver on mandates.
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“We shall realign our relationship with the IOD Centre for Corporate Governance (IoDCCG) to support the Centre in its quest to become the Centre of Excellence for Corporate Governance in Nigeria and beyond” he assured.
In his speech, Professor Fabian Ajogwu, who spoke on ‘Leadership, Legacy, and the Future of Governance: Charting a New Direction,’ recommended strengthening of institutional framework and the pursuit of purpose-driven leadership.
The Senior Advocate of Nigeria encouraged leaders to act with integrity and prioritise societal benefits over short-term political or financial gain, noting that leadership should be measured not by position or title, but by tangible outcomes.
The professor of Corporate Governance reiterated that leadership should be regarded as custodianship of resources and values. Moreover, decision makers should consider long-term effects, balance the interests of multiple stakeholders, embed integrity into procedures, and create institutions that outlast individual tenures.
Ajogwu who is the founder of the Society for Corporate Governance in Nigeria, pointed out environmental, social, and governance as factors, central to organisational and public sector strategies.
“ESG principles must guide strategy and operations, influence decision-making, resource allocation, and performance assessment to achieve measurable societal and environmental impact.
“AI and digital technologies should be adopted with strict oversight and accountability. We must establish clear standards for data ethics, monitor outcomes for bias or misuse, and ensure teams are well-equipped to deploy these tools responsibly while safeguarding stakeholders’ interests.
“We encourage active citizen and stakeholder participation to reinforce accountability, bolster democratic processes, and support transformative leadership. Governance improves when oversight and public involvement are ongoing and well-informed, not passive”
He added that the future of governance requires a radical shift towards purpose-driven, ethical, and adaptive leadership. To him, the future depends not only on leaders, but also on the shared partnership between leaders and followers. “Leaders must honour the trust placed in them by performing their duties with integrity, while followers must stay alert, demanding accountability and supporting the common good.
“The responsibility is clear: our problems are ours to solve. No one but us owes our societies a future, and we (leadership and citizens alike) are therefore responsible for ensuring its sustainability,” he maintained.
