IoD, FG collaborate on national code of ethics

Plans are underway by the Institute of Directors (IoD) Nigeria, to collaborate with the Federal Government, with a view to adopting its 2019 code of ethics nationally by all stakeholders.

To this end, the IoD Governing Council has mandated its Ethics Committee to discuss with the Office of the Vice President of Nigeria, in liaison with the Ministry of Industry, Trade and Investment.

President and Chairman of Council, IoD Nigeria, Ahmed Mohammed, disclosed this during the Institute’s 2019 biennial lecture held in his honour, ahead of his handover after holding forth for two years.

Mohammed noted that the Code of Ethics when adopted nationally, will serve as a guide and compass for all directors to live the IoD core values, vision, and mission, and to make decisions that are fair, good and right in their daily interactions.

“The Code of Ethics not only accurately and comprehensively addresses the current law, but also takes on board international best practice. It will be reviewed regularly with input from members and key stakeholders, with revisions duly approved by all stakeholders and communicated.”

The Guest Speaker, and Chief Executive Officer, The Ethics Institute, South Africa, Prof. Deon Rossouw, who spoke on the theme, “The Hard Soft Side of Corporate Governance: Character, Conduct and Culture,” said implementing ethical standards has to do with training, communication, and advice among others.

He hinged governance responsibilities on strategy, policy, oversight and disclosure, and identified ethical culture, performance, effective control and legitimacy as possible outcomes.

Meanwhile, Mohammed said the Governing Council under his leadership made giant strides toward enthroning an ethical culture among members by establishing the IoD Ethics Committee, with the mandate to review and recommend a new code of ethics for members and staff of the Institute, which has been approved and adopted for immediate implementation.