Lagos: Corporate governance experts have urged ethical leadership, disciplined structures, and strong crisis preparedness to protect corporate reputation in turbulent periods. They spoke during the Chartered Institute of Directors’ (CIoD) induction ceremony on Thursday in Lagos.
According to News Agency of Nigeria, the event inducted 334 new members and 10 upgrades, under the theme, ‘Leadership, Governance and Resilience: Strengthening Corporate Reputation in Times of Crisis’. Mr. Nnamdi Okonkwo, former Group Managing Director of First Holdco Plc, emphasized that today’s volatile environment has placed leaders under unprecedented pressure. He highlighted that the ability to navigate storms while protecting reputation remains “a hallmark of exceptional leadership.”
Okonkwo stated that directors must set the tone at the top, reinforce accountability, engage stakeholders, and build resilient systems capable of withstanding volatility. He noted the necessity of anticipating crises in a ‘VUCA environment marked by Volatility, Uncertainty, Complexity, and Ambiguity.’ He identified organisational crises as financial, reputational, operational, cybersecurity, and leadership-related. Solutions, he said, include acknowledging crises, assembling a response team, gathering facts, and communicating transparently while taking corrective action.
Okonkwo further recommended that firms invest in scenario planning that maps risks and assigns clear responsibilities. ‘With a proactive framework that defines who does what before a crisis hits, companies can respond faster and minimise damage. Whether at Board or management level, effective governance determines organisational resilience. As directors, you set the tone and foster a culture of compliance and integrity,’ he said.
Mr. Adetunji Oyebanji, President of CIoD, remarked that crises ranging from economic shocks to cyber threats have become part of the new normal. In such times, he stressed that corporate reputation remains fragile and crucial. He stated that sound governance provides clarity of roles, effective oversight, and accountability. Oyebanji added that boards that anticipate risks, maintain robust systems, and respond transparently are better positioned to preserve trust.
Oyebanji urged new members to remember that their induction carries a personal call to uphold ethical leadership. He advised them to let governance principles shape their actions, organisations, and wider societal impact. ‘You must take up your mantle with humility and courage, commit to learning, lead with character, and build resilient boards,’ he said.