Abuja: The Chartered Institute of Directors (CIoD) Nigeria has called on its newly inducted directors to prioritize institutional resilience, ethical leadership, and long-term value creation to ensure the sustainability of their organizations. This directive was issued during the induction ceremony of over 250 new members held in Lagos, under the theme ‘The Director Mandate: Governing for Value and Resilience.’
According to News Agency of Nigeria, Prof. Konyinsola Ajayi, a Partner at Olaniwun Ajayi LP, emphasized that directorship is a role of stewardship that necessitates directors to safeguard their institutions beyond their tenure. He highlighted that the core responsibility of a director is to ensure the survival, resilience, and sustainability of organizations, especially in the face of contemporary challenges such as climate change, cybersecurity threats, geopolitical tensions, artificial intelligence, and evolving stakeholder expectations.
Ajayi articulated that these challenges demand boards that are forward-thinking, adaptable, and dedicated to institutional continuity. He encouraged directors to view themselves as custodians of their organizations, stressing that the true measure of a director’s success is the strength and vitality of the institution after their term. Ajayi also pointed out that trust, competence, and integrity are essential to effective board leadership.
Furthermore, Mr. Adetunji Oyebanji, President of CIoD Nigeria, remarked that the induction signifies the onset of greater responsibility for the new members. He mentioned that over 250 professionals who completed the Company Direction Course I and met the membership requirements were admitted. Oyebanji stressed the importance of directors going beyond regulatory compliance to enhance organizational resilience and competitiveness amidst an increasingly complex business landscape.
He observed that boards worldwide are grappling with technological disruption, artificial intelligence, cybersecurity risks, sustainability challenges, and geopolitical uncertainty. According to him, effective corporate governance is crucial for organizational success. Oyebanji affirmed that the institute is committed to bolstering corporate governance through initiatives like the Independent Non-Executive Directors Register, which links organizations with qualified independent directors.
Additionally, Oyebanji highlighted that CIoD is nurturing future board leaders through its Young Directors Forum, which offers mentorship, executive education, and networking opportunities for emerging professionals. He urged the newly inducted members to maintain high standards of professionalism and contribute to the development of enduring institutions in Nigeria.