Lagos: The Chartered Institute of Directors (CIoD) Nigeria has urged coordinated reforms to strengthen governance, improve institutions, and enhance Nigeria’s global competitiveness. The institute made the call while presenting its inaugural biannual Governance Health Check of the Nation report.
According to News Agency of Nigeria, CIoD President Mr. Adetunji Oyebanji described the report as a comprehensive assessment of governance trends, board effectiveness, regulatory developments, risk exposures, and institutional resilience. Oyebanji emphasized that governance has become a strategic imperative amid technological disruption, sustainability expectations, and evolving regulatory requirements. He noted that recent legislative and regulatory reforms offer opportunities to deepen transparency, accountability, and responsible leadership.
Oyebanji highlighted that the Investments and Securities Act 2025 has strengthened Nigeria’s regulatory landscape, although stronger compliance is required to maximize its benefits. He expressed confidence that implementing the report’s recommendations would strengthen institutions, restore investor confidence, and improve competitiveness. The institute plans to publish the Governance Health Check every six months to monitor progress and identify emerging governance issues.
Presenting the report, Dr. Adeola Agbato, CIoD Director of Advocacy and Stakeholder Engagement, stated that it contains recommendations for improving governance across public and private institutions. Agbato mentioned that the assessment covered eight governance dimensions and identified 10 key findings requiring urgent attention. The report drew on 81 verified research sources covering January to June 2026, incorporating governance performance data, compliance metrics, institutional case studies, and cross-sectoral analysis.
Agbato identified AI governance, board effectiveness, internal controls, cybersecurity, succession planning, sustainability reporting, and public sector governance as priority areas. She noted that AI governance has become one of the most challenging responsibilities for boards globally. Stronger board oversight of AI, cybersecurity governance, succession planning, and Environmental, Social, and Governance (ESG) principles would improve institutional resilience.
Agbato added that Nigeria’s evolving regulatory framework offers opportunities to improve institutional performance through stronger compliance, coordinated regulation, and accountability. She urged boards to establish AI governance frameworks and strengthen internal control systems. Additionally, she recommended institutionalizing succession planning and adopting outcomes-based governance focused on long-term value creation.
Agbato called for organizations to strengthen cybersecurity governance, improve board evaluations, and integrate ESG principles into business strategy. She also recommended stronger internal data systems to support sustainability reporting. The governance expert urged policymakers to fast-track the Nigerian Public Sector Governance Code and strengthen regulatory coordination, promoting transparency, accountability, and effective oversight across public institutions.
Agbato also encouraged development partners and investors to support governance capacity building, board development, and institutional reforms. She remarked that Nigeria’s governance framework is structurally sound, but enforcement remains uneven, stressing that stronger governance execution is essential for building resilient institutions and improving national competitiveness.
CIoD Director-General Dr. Taiwo Nolas-Alausa described good governance as the foundation for resilient institutions and sustainable economic growth. Nolas-Alausa asserted that the report would provide evidence-based insights to support policymaking and strengthen governance practices, emphasizing that collaboration among government, regulators, businesses, investors, and civil society is critical for translating governance frameworks into measurable outcomes.
“This report is neither an indictment nor a scorecard. It is a mirror that reflects where we stand today and a roadmap to where we must go,” he concluded.