The Chartered Institute of Directors (CIoD) Nigeria is seeking the emergence of ethical leadership and stronger regulatory oversight to tackle weak governance, mediocrity and abuse of regulatory powers that are eroding public trust in both public and private institutions.

The charge was delivered at the institute’s July 2026 New Members’ Induction Ceremony held Lagos, where newly admitted directors were urged to view boardroom leadership as a responsibility to build resilient institutions rather than pursue short-term gains.

Speaking on the theme: ‘The Director Mandate: Governing for Value and Resilience,’ the Partner, Olaniwun Ajayi, SAN, Prof. Konyinsola Ajayi, warned that the governance failures often associated with the public sector have increasingly found their way into the private sector, threatening investor confidence and institutional credibility.

The SAN urged regulatory agencies, including the Securities and Exchange Commission (SEC) and the Financial Reporting Council (FRC), to focus on protecting Nigerians and ensuring fairness rather than using regulations as instruments of oppression or revenue generation.

“The truth of the matter is that what we complain about in the public sector – incompetence, mediocrity and corruption have found their way into the private sector, which is the largest employer of labour.

“What we see in many organisations is the misapplication of the law and the use of regulations as a means of making money rather than ensuring that companies are run properly and fairly,” he said.

Ajayi urged directors to build trust and leave behind institutions that outlive their tenure.

Also, Chairman of the Governing Council, CIoD Nigeria, Adetunji Oyebanji, charged directors to embrace governance that creates sustainable value, strengthens institutions and prepares organisations to navigate an increasingly complex business environment.

According to him, rapid technological changes, artificial intelligence, cybersecurity threats, sustainability demands and geopolitical uncertainties have made strategic leadership and sound corporate governance more critical than ever.

He stressed that governance should no longer be viewed merely as compliance with regulations but as a strategic tool for creating long-term value and institutional resilience.

“As directors, always remember that leadership is not defined by position but by responsibility; governance is not measured by compliance alone but by the value it creates; and the true legacy of every director lies in the strength and sustainability of the institutions they leave behind,” he added.

Among the inductees was the Executive Director, Special Duties, Federal Airports Authority of Nigeria (FAAN), Mrs Obiageli Orah. Orah is a professional who has extensive experience in the medical field and in public service. Orah is an astute administrator.