The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) said there is a huge deficit in Nigeria that makes its services necessary. The institute pointed out that Nigeria, as an oil-rich country, is grappling with environmental devastation in its oil-bearing communities.

According to the body, there is a wide spread of human rights abuses, social inequality, corrupt practices, gender imbalance and systematic discrimination against physically challenged persons, which calls for its members’ intervention.

Adjunct Professor, University of Ibadan, Bayo Adaralegbe, said this at the ICSAN members’ summit in Lagos, where he spoke on ‘Unlocking Opportunities for Governance Professionals’.

He recalled the global developments that influenced corporate governance practices and the emergence of the governance professional, emphasizing corporate sustainability.

Still on the opportunities, the don said with more foreign direct investment (FDI) that is needed in the country, institutional investors are attentive to the ESG compliance of companies they propose to invest in.

Adaralegbe, who is also a partner of Babalakin and Co., said the challenges present huge opportunities for the institute because the area is new, evolving and essential even as companies want to be seen to be compliant not only for the optics and perception but also it is a requirement for reporting.

President and Chairman of Council, ICSAN, Funmi Ekundayo, enthused that with the institute’s advocacy groups, members were making waves across boards and in different sectors of the economy.

In the corporate governance space, she said there are many opportunities inherent for members to latch on to, urging them to continue to upgrade their skills even in emerging areas, especially as the institute is on the verge of changing its name to offer more fields of practices and product offerings for members.

The ICSAN boss said the summit, among other programmes, has continued to sustain the institute’s reputation as a beacon of light on governance matters, pledging the institute’s commitment to continue to engage members on quality value propositions through symbiotic gestures.