IoD strategises on corporate governance advocacy perception

Plans are underway by the Institute of Directors (IoD) to establish pathways for a stronger engagement with the government for the improved perception of its role as the prime advocacy body for good corporate governance.

The institute admitted that it has been shy in its open public engagement with the government and the private sector in its corporate governance advocacy.

The Institute hinted it has mapped out plans to engage the media for observed cases of poor corporate governance in both sectors, drawing examples of their implication to businesses and the state of the economy.

The President and Chairman of Governing Council, IoD Nigeria, Ahmed Rufa’i Mohammed disclosed this during the institute’s 34th yearly general meeting in Lagos.

He submitted that the IoD must sharpen its skills, knowledge and establish stronger engagement ties with the government and must not shy away from making its position public on policies and issues that affect businesses in the country, noting that the future has tremendous expectation of the institute.

Giving a brief assessment of the external and domestic macroeconomic environment within which the Institute fared in the year under review, the IoD boss urged the Federal Government for a religious implementation of the Economic Recovery and Growth Plan (ERGP) as a strategy for ensuring a stable and steady growth of the economy.

He said: “Government is expected to focus attention on the faithful implementation of this economic agenda while giving equal priority to its power sector recovery programme aimed at increased power supply through enhanced generation, transmission and distribution.”

On some of the numerous economic challenges the country battled in 2017, which he mentioned included disruption in fuel supply by militants in major oil producing areas, unabated corruption in high and low places, terrorism, kidnapping and rising unemployment among others.

The IoD boss charged directors to be more innovative and strategic in order to lead their organisations against the ubiquitous tide of the socio-economic and political challenges sweeping across the country and the world at large.

He reported the prominent and leading roles the Institute plays in the Nigerian business community, stressing that the institute’s efforts at promoting lifelong learning opportunities through professional development programmes have been vigorously intensified.

This, he said, witnessed significant increase by directors both at the public and private sectors to join the institute and have the enthusiasm to participate in many activities of the institute.

At the meeting, the Director General and Chief Executive Officer of the institute, Bamidele Alimi, presented to the house a report on operations of the institute which was executed by the secretariat during the year under review.