CIoD begins implementation of governance reforms

Following the implementation of provisions of the Charter Act, the Chartered Institute of Directors Nigeria (CIoD Nigeria) has announced a series of significant governance reforms, marking a transformative phase in the institute’s operations.

The institute’s President and Chairman of the Governing Council, Tijjani Borodo in a message to all members, said the changes, which followed the granting of the institute’s charter status through the signing of the Chartered Institute of Directors Nigeria (Establishment) Act, 2023, reflect the institute’s commitment to best governance practices, improved operational efficiency, and enhanced service delivery to its members and stakeholders.

He said the move was part of the institute’s plans for implementing key governance changes that align with the new Charter Act, an achievement that, he said, was made possible by the collective vision, effort, and determination of the members.

According to him: “The signing of the Charter Act by President Muhammadu Buhari on May 26, 2023, represents a milestone in the history of CIoD Nigeria. It is a testament to the dedication and hard work of our members, and it sets the stage for the next phase of growth and development. The governance changes we are implementing will strengthen the structure of the institute and ensure we continue to deliver value to our members while keeping pace with global standards of governance.”

Among the most notable key governance changes, Borodo said, are the dissolution of the executive committee, the transformation of policy committees into sectoral groups, and the reconstitution of the governing council.

The CIoD boss said by the Charter Act, the erstwhile executive committee has been dissolved, and its responsibilities would now be managed by the reconstituted Committees of the governing council.

He said the governing council has been restructured to include representatives from various ministries, government agencies, and academic institutions, adding that only three past presidents of the institute will now sit on its governing council.

Looking ahead, Borodo emphasized that the governance changes reflect CIoD Nigeria’s commitment to remaining a leader in corporate governance training, advocacy, and leadership development.

“As we implement these reforms, I trust that your continued support and belief in our institute will ensure a smooth transition and the continued success of CIoD Nigeria,” he said.