Uphold Good Corporate Governance Principles IoD Urges New, Old Members

Gilbert Ekugbe

The Institute of Directors (IoD) has charged its old and new members to uphold good corporate governance principles and be guided by the code of ethics of the Institute at all levels in their work places and in their private affairs.

The president and Chairman of Council, (IoD), at the July 2022 new members’ induction ceremony charged its new and old members to appreciate the privileged status in the Institute while also urging the members to remain steadfast and focused in their support of IoD Nigeria for its growth and development.

“Our Institute will continue to demonstrate greater concern for and commitment to the governance of all private and public sector organisations in Nigeria, and the leadership of the Institute would continue to appreciate any ideas and input by existing and new members towards the achievement of the Institute’s vision,” she said.

She said the advocacy role of the Institute is evident in the entrenchment of best practice in how its directors lead their organisations through the capacity development programme that its new and existing members are exposed to early enough and throughout their membership of the Institute, stating that the successful trajectory of an organisation rests largely on the performance, competence and integrity of its directors.

She pointed out that the admission into the Institute is both a call and admission into the global network of responsible group of leaders that have committed themselves to be change agents in their business and private lives and have pledged to champion positive changes in their organisations and the Nigerian economy at large.

She noted that IoD Nigeria over the years has made tremendous impact in both the public and private sectors of the Nigerian economy, adding that the institute has groomed directors into becoming highly responsible ambassadors of corporate governance and sound ethical practices as is obtainable globally.

According to the IoD boss, in August 2020, the Institute launched its new Code of ethics for members and staff of the Institute, in order to reposition its members and staff on issues bothering on ethical conduct and expectations, stressing that the Institute has been able to sustain a regime of consistent advocacy in this field with a record of substantial achievement and tremendous progress.

Also speaking, the Managing Director, Eko Electricity Distribution Company Plc, Mrs. Tinuade Sanda, during her presentation themed “ACritical Assessment of Corporate Governance and Industry Standards in the Power Sector” said is quite apt, considering how critical the power sector is to the development of the Nigerian economy.