Nigerian Bar Association Section on Business Law (NBA-SBL), Nigerian Exchange (NGX) and Chartered Institute of Directors, Nigeria (CIoD), have called for corporate governance frameworks that are adaptable, transparent and responsive to emerging risks and opportunities in the digital economy.

They made the call at the Corporate Governance Triangle Annual Colloquium held in Lagos, with the theme, ‘Governing for the Future: Board Leadership, Regulatory Innovation and Sustainable Value Creation in a Digital Economy’, focused on the implications of digital technologies, Artificial Intelligence (AI) and rapid technological innovation for businesses and corporate governance.

Chairman, NBA-SBL, Mr Baba Alokolaro, represented by his Vice, Ayoyinka Olajide-Awosedo, said the developments were reshaping businesses, transforming boardroom responsibilities and redefining the global economy, thereby requiring governance systems to respond effectively to changing realities.

He said the Corporate Governance Triangle was conceived as an initiative of the Ayuli Jemide-led Council and advanced through the Corporate Governance and Compliance Committee of the NBA-SBL, then chaired by Ms Ayotola Jagun.

In her keynote address, Country Manager, DLA Piper Africa, Nigeria, Mrs Bola Tinubu, challenged directors to examine whether their organisations have the expertise to interrogate AI applications rather than merely approve them, and whether sustainability reports met audit standards instead of serving as marketing documents.

Tinubu further encouraged directors to assess corporate decisions against a 10-year outlook rather than focus solely on 12-month performance while examining whether executive incentives reflected the values boards claimed to uphold.

She called on regulators and the exchange to simplify filing requirements, maintain proportionate rules and reward assured disclosures while lawyers and company secretaries were urged to prioritise sound judgment alongside compliance.

The Chief Executive Officer, NGX Regulation Limited, Mr Olufemi Shobanjo, expressed need for collaboration to strengthen governance, institutional accountability and sustainable business growth.

He added that corporate boards could no longer focus solely on financial stewardship and regulatory compliance, as they must increasingly contend with technological disruption, complex business environments and changing stakeholder expectations.

Shobanjo cited the World Economic Forum’s Global Cybersecurity Outlook 2026, noting that 87 per cent of respondents identified AI-related vulnerabilities as the fastest-growing cyber risk.

He advised that rapid adoption of technology must be matched by effective governance, internal controls, ethical safeguards and appropriate oversight.

In his remarks, the President and Chairman, CIoD, Otunba Adetunji Oyebanji, urged corporate boards to move beyond compliance and oversight to become architects of long-term stakeholder value, ask relevant questions and hold management and staff to higher standards as businesses navigate rapid technological changes and emerging risks.

Chief Executive Officer, NGX, Mr Jude Chiemeka, represented by Head, Trading and Products, NGX, Abimbola Babalola, said NGX All-Share Index appreciated by 59.52 per cent year-to-date as of October 21, with equities market capitalisation reaching N159.15 trillion.

He added that fixed income and exchange-traded funds market capitalisation stood at N60.19 trillion and N50.31 billion, respectively.

He said sound corporate governance remained essential to investor confidence, market credibility and investment decisions.