L-R: Chairman, 40th Anniversary Committee, Institute of Directors Nigeria (IoD), Mr Samuel Akeju; Past President, IoD Nigeria, Mr. Chike Nwanze; Lagos State Deputy Governor, Dr Obafemi Hamzat; Present and Chairman of Governing Council, IoDs Nigeria, Mrs Ije Jidenma and Former President, Dr. Goodluck Jonathan,

By Rukayat Moisemhe

Lagos, May 18, 2023

The Governor of Lagos, Mr Babajide Sanwo-Olu, has promised to sustain the state’s partnership with the Institute of Directors (IoD) to deepen corporate governance principles.

Sanwo-Olu, represented by the Deputy Governor, Dr Hamzat Obafemi, said this at the IoD 40th anniversary gala with the theme: “Celebrating 40 years of Visionary Leadership and Corporate Governance”in Lagos.

He said the partnership was critical in view of the IoD’s primary goal of promoting good corporate governance which was fundamental to any effective and well-managed organisation.

Sanwo-Olu said the effective application of the principles of corporate governance in the public sector played a major role in the state’s ability to connect effectively with the private sector.

“This administration has been promoting the principles of corporate governance in all aspects of governance covering project management, financial management, human resource management and others.

“I make bold to say that it is a major factor in the continued improvement in the growth trajectory of the economy and the capacity to meet the expectations as well as managing the challenges of a mega city and the demands of the 21st century.

“As we prepare for the commencement of a new dispensation, let me affirm our resolve to sustain the friendly and collaborative relationship between the public and private sectors in Lagos State,” he said.

Also speaking, Nigeria’s former President, Dr Goodluck Jonathan, described the IoD as a pacesetter in establishing good corporate governance principles.

Jonathan said the institute had over the years transformed into a reliable body entrenching corporate governance culture in Nigeria.

He noted that the impact of the institute was felt in its members that champion the implementation of good corporate governance practices that affected the common man across sectors and in different parastatals.

“I encourage you with your rich cadre of membership to continue to deliver your objective in boosting public policy and advocacy as you build the capacity of directors through well developed programmes, mentoring and sound ethical practices.

“I must say that corporate governance adoption in all organisations would address the problems of corruption, dishonesty, poor governance and even electoral mismanagement.

“As you celebrate, I congratulate you for the worthy achievements in spite of the challenges encountered.

“You must work hard to ensure your advocacy for good governance is not just a slogan but a manifest reality in the character of your members as they implement these ideals whereever they find themselves,” he said.

Dr Ije Jidenma, the President, IoD, said the institute would continue to expand its local and international partnerships to expand the frontiers of best practice in corporate governance.

This, she said, was critical as the institute remain committed to the principles of integrity and high ethical standards that have guided it for the past 40 years.

Jidenma said while the road to this height had been bumpy, the institute was able to weather the storms because of the support of critical stakeholders in the corporate governance space and the doggedness of its leadership past and present.

“I am proud to announce that IoD Nigeria is 40 years and we are here to celebrate 40 years of mission accomplished; 40 years of success in corporate governance championship, 40 years of leadership in directors’ professional membership.

“We are also celebrating 40 years of competence, integrity and enterprise and 40 years of promoting corporate sustainability and Nigeria’s economic development through directors’ capacity development.

“Today, IoD Nigeria has achieved profound impact through its commitment to continued professional education and sharpening of skills of directors, promoting the entrenchment of good corporate governance in workplaces.

“As we celebrate IoD Nigeria’s 40th anniversary today and all through the year, be assured of continuity of the institute’s mission and vision, even when those of us here are no longer on the scene,” she said.


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