CIoD to Address SMEs Funding Deficit at Young Directors Conference

Raheem Akingbolu

The Chartered Institute of Directors (CIoD) has announced that the 2024 edition of its annual Young Directors Forum (YDF) Conference will address issues of Small and Medium-sized Enterprises (SMEs) funding deficit in the country in its bid to transform the business landscape.

The conference-themed “Empowering SMEs: Addressing the Funding Deficit “will be held on October 29 in Lagos. The Chairman, Nestoil Limited, Dr. Ernest Azudialu Obiejesi OFR will be the Chairman of the conference and the Managing Director of Bank of Industry, Dr Olasupo Olusi, will be delivering the Keynote Speech.

The Organisers, at its pre-conference briefing held recently, disclosed that the event promises to be impactful and engaging as it will provide businesses and entrepreneurs with valuable insights from experts that would transform their businesses. It also stated that participants can engage with financial institutions and other stakeholders directly at the conference.

The YDF Conference is a build-up to the 2024 Annual Directors Conference, which will be held from October 30-31.

Chairperson of YDF, Mrs Folasade A Akinmusire, said there are a lot of opportunities for SMEs to grow, but lack of adequate information is hindering their growth. She explained that the conference is set to turn their struggles in funding into success as insights on how they can access funds, scale up, and run a sustainable business will be shared.

According to her, “The YDF 2024 Conference is positioned to create improved awareness about access to funding issues and interventions in Nigeria. It is a must-attend for budding entrepreneurs, start-ups, business founders, promoters, investors, and financial service providers.”

The Organisers said participants will have the opportunity to engage with Bank of Industry (BOI) and mainstream banks such as Sterling Bank, FCMB, Ecobank FirstBank, and others at their booths at the conference. Also, Nestoil Limited has partnered with YDF to make the event memorable and impactful.

Earlier, the President and Chairman of the Governing Council, CIoD, Tijani Borodo, said its collaboration with key stakeholders is critical to the institute’s mission which will enable the creation of a robust system for ethical leadership and sound corporate governance.

“In the face of ongoing economic challenges, it is essential that we recognise how sound governance practices foster accountability, sustainability, and innovation within our organisations, in particular, and our nation in general,” he stated.

The CIoD Nigeria’s Young Directors Forum (YDF) is primarily an assemblage of directors who are young in age and inexperienced on the board. This could cut across the SMEs, quoted companies, and unlisted private companies.

CIoD provides a platform to interface with the government for the creation and entrenchment of favourable business-friendly policies in seemingly challenging circumstances for the creation of wealth. Its members are directors and business leaders from the public and private sectors and across a diversity of enterprises in commerce, industry, services, professions, bureaucracy, and others.