Lagos:Governance experts have urged future corporate boards to focus on sustainable shareholder value, accountability, technology, and robust governance systems. This approach is expected to enhance business resilience, competitiveness, and promote long-term growth.
According to News Agency of Nigeria, these recommendations were made during the third Young Directors Conference held by the Chartered Institute of Directors (CIoD) Nigeria Young Directors Forum in Lagos. The event, themed ‘The Future Board Building Sustainable Systems, Unlocking New Potential,’ highlighted the need for strategic governance in the face of technological disruptions and evolving market dynamics.
Mr. Seni Adetu, Chairman of Algorithm Media Ltd., underscored the importance of strategic partnerships, innovation, and good governance for multinationals to create enduring value. He advocated for boards to continuously assess members based on Key Performance Indicators and emphasized the strategic role of an effective board.
Adetu also highlighted the need for boards to integrate Artificial Intelligence and data analytics for improved decision-making and urged for greater independence in internal audit functions to ensure integrity and accountability.
Prof. Peter Obadare, Founder of Digital Encode Ltd., stressed the importance of robust structures to withstand volatility and complexity in the business environment. He called for boards to adopt transparent governance systems and sustainable business models that balance profit with social and environmental responsibilities.
Mr. Adetunji Oyebanji, President of CIoD Nigeria, emphasized continuous education and investment in emerging leaders as crucial for developing future-ready boards. He announced the institute’s upcoming Annual Directors Conference in 2026, which will focus on reimagining boardrooms for sustainable national prosperity.
Ms. Omobola Adekola, Chairperson of CIoD Nigeria YDF, highlighted the forum’s role in developing ethical and impactful leadership. She encouraged young directors to engage with the forum’s programmes and emphasized the collective responsibility in building future boards.