New IoD Nigeria President Outlines Plans to Enhance Corporate Governance

Alhaji Tijjani Borodo, the recently elected President of the Chartered Institute of Directors (IoD) Nigeria, has articulated his strategic agenda focused on advancing corporate governance excellence across various sectors of the Nigerian economy.

During a media interaction in Lagos on Friday, Borodo detailed his three-point agenda (3Rs), which aims to champion policies and practices promoting growth and innovation.

With his investiture scheduled for September 14 in Lagos, Borodo highlighted the significance of his agenda considering the evolving landscape of IoD Nigeria.

Having celebrated its 40th anniversary recently, the institute’s achievements owe much to past leaders. Borodo expressed his commitment to build on their legacy by fostering excellence in corporate governance and advocating for growth-oriented policies and practices.

His three-point agenda, coined as “Review, Reform, and Reinvigoration,” is designed to guide his administration. This includes reviewing existing corporate strategies, reforming membership and branch development approaches, and revitalizing operations to better serve the members.

Borodo revealed plans to forge mutually beneficial partnerships and expand collaborations with the public sector to solidify sound corporate governance practices, thereby facilitating economic growth.

He stressed the potential for synergy between corporate Nigeria and the government, asserting that strong corporate governance could enhance investor confidence and attract much-needed Foreign Direct Investment (FDI) to the economy.

IoD Nigeria has been actively engaging the public sector in advocating good corporate governance for nearly a decade. Through capacity development programs, they’ve worked with government offices to enhance their understanding of corporate governance, leading to increased participation of government officials in the Institute.

Borodo highlighted the need for Micro, Small and Medium Enterprises (MSMEs) to integrate succession planning into their operations. He emphasized that organizations of all sizes should have a viable succession plan to ensure business continuity.

He emphasized the importance of mentoring the next generation of leaders and highlighted the Young Directors Forum, which nurtures leadership skills among young professionals.

Borodo also emphasized the critical importance of diversity and inclusiveness in both organizational boards and the political sphere. He noted that diversity, encompassing age, gender, and other dimensions, could address existing gaps.

To support these ideals, IoD Nigeria has implemented platforms like the Young Directors Forum and the Women Directors Development Committee, aimed at empowering young directors and promoting gender-specific programs.

Borodo intends to initiate campaigns, seminars, and workshops to underscore the benefits of diverse boards, such as improved decision-making and innovation. He plans to set clear diversity goals and encourage organizations and political entities to actively pursue balanced representation of women and youth on their boards…[CONTINUE READING HERE]>>