June 11, 2024

Central News

at the center of it

New IoD Nigeria boss for better corporate governance practices

Chartered Institute of Directors (IoD) Nigeria new president Alhaji Tijjani Borodo says his strategic agenda is promote corporate governance excellence in various sectors of the Nigerian economy.

Borodo, at a media parley on Friday in Lagos, said his strategy hinges on a three-point agenda (3Rs), which would also advocate policies and practices that foster growth and innovation.

The president, whose investiture would be on Sept. 14 in Lagos, said the agenda was necessary, considering emerging dynamics of IoD Nigeria operations.

“Recently, the institute celebrated 40 years of its existence, and this has been made possible by the meritorious services of past leaders.

“I have just been saddled with the responsibility to continue with the excellent achievements of these eminent pacesetters and build on their solid foundation.

“The 3-Rs agenda would dwell on “Review, Reform and Reinvigoration, whereby the new administration’s focus will be on review of existing corporate strategy, reform of our membership and branch development status and reinvigoration of our operations to better serve our valued members,” he said.

The IoD president said that plans were underway to establish more mutually-beneficial partnerships and widen the institute’s network of collaboration with the public sectors.

This, he explained, was with the view to entrench sound corporate governance practices that position the Nigerian economy on the path of growth.

Borodo said the synergy between corporate Nigeria and the government could produce better results in the area of corporate governance.

According to him, it is by achieving this that investor confidence can be encouraged, which in turn, will bring about the much-desired Foreign Direct Investment (FDI) to the economy.

“For almost a decade, IoD Nigeria has realised the need to involve the public sector in the crusade for good corporate governance practices.

“We have worked with the various necessary organs and offices of government to hold capacity development programmes that would enhance the knowledge of public sector officials about corporate governance.

“This has resulted in a large number of directors and executives of ministries, departments and agencies of government joining the Institute.

“Not only are we doing it at the national level, but we are also working with the sub-nationals and bringing them into the Institute.

“Let me assure you that IoD Nigeria is fully ready to take the lead and drive this initiative,” he said.

The IoD president also pushed for diversity and inclusiveness on boards of organisations and in the political space as a critical priority.

Noting that diversity could be in terms of age, gender, among other dynamics, Borodo said that a lot could still be done to address the gaps its absence had created.

“For example, our Young Directors’ Forum is meant to provide the necessary tutelage and mentorship to young and aspiring directors and C-suite executives to prepare them for bigger responsibilities.

“Also, our Women Directors’ Development Committee has worked assiduously in the past years to cater to the peculiar needs of female directors through gender-specific programmes, mentoring programmes, coaching etc., specially targeted at female members of the institute.

He said the initiatives had contributed greatly to the development of women directors and given them more confidence to perform their roles as directors.