The Chartered Institute of Directors (CIoD) Nigeria and Lagos Business School (LBS) of Pan-Atlantic University have signed a Memorandum of Understanding (MoU) as part of their collective efforts to strengthen leadership practice, board effectiveness, and ethical conduct within Nigeria’s corporate and institutional space.

At the signing ceremony, President and Chairman of Governing Council, CIoD, Adetunji Oyebanji, the quality of leadership at the board level remained a determining factor in organisational performance and public confidence.

He said as Nigeria pursues economic growth, regulatory reform, and regional integration, boards must provide sound oversight, clear direction, and an ethical tone.

Oyebanji said through the partnership, CIoD Nigeria and the Lagos Business School are making a deliberate contribution to preparing directors to meet the responsibilities with confidence and discipline expected to address the changing demands placed on boards, from artificial intelligence to environmental, social, and governance (ESG) matters, while reinforcing that competence without character was insufficient for effective directorship.

According to him, the MoU is a deliberate commitment to cooperation in director education, research, and advocacy, representing a clear milestone under “our ICE Agenda of Innovation, Collaboration, and Engagement”.

“Ultimately, we are making a deliberate contribution to preparing directors to meet their responsibilities with confidence, ensuring they provide the sound oversight and ethical tone required for national development,” he said.

First Vice President of the CIoD, Amina Oyagbola, underscored the importance of developing locally relevant case studies while upholding global teaching standards.

She highlighted the necessity of materials that reflect Africa’s unique business landscape, noting that “The growth of Africa will be led by the private sector, making it imperative that its leaders are equipped to lead effectively.”

Corroborating Oyagbola, Director of Research, LBS, Prof. Okechukwu Amah, emphasised that the MoU would be firmly grounded in rigorous research.

By championing evidence-based decision-making, the don added that the partnership aims to ensure that board appointments and boardroom practices are intellectually sound and well-informed.

The Dean of LBS, Prof. Olayinka David West, broadened the discussion by calling for greater diversity in directorship. She stressed the need to move beyond traditional board structures and embrace gender, ethnic, and intergenerational diversity as drivers of stronger governance outcomes.

She further noted that the collaboration will extend beyond the private sector to build capacity within public institutions, recognising that national development depends on strong leadership across all spheres.