CIoD Nigeria welcomes new members, emphasizes the role of AI in corporate governance
Lagos, September 12, 2024 — The Chartered Institute of Directors Nigeria (CIoD Nigeria) held its September 2024 New Members’ Induction Ceremony at the Oriental Hotel, Victoria Island, Lagos, where Alhaji Tijjani Borodo, LLM, F.CIoD, President, and Chairman of the Governing Council, delivered an inspiring opening address.
The event, which marked the formal induction of a new cohort of distinguished directors into the Institute, underscored the importance of embracing innovative thinking and artificial intelligence (AI) in shaping the future of governance and leadership. The theme of the event, “Impact of Artificial Intelligence and Innovative Thinking on Governance and Leadership,” highlighted the transformative potential of AI and the critical role directors play in steering organizations through technological advancements.
In his address, Alhaji Borodo welcomed the new members, acknowledging their commitment to excellence in corporate governance. He praised the rigorous screening and training process that these new members underwent, including their participation in the Institute’s Company Direction Course I (CDC1), which focuses on best practices in corporate governance.
“The quality of our membership defines the influence and relevance of our Institute,” said Alhaji Borodo. “Today, you join a distinguished group of leaders dedicated to upholding the highest standards of corporate governance in Nigeria and beyond.”
Alhaji Borodo expressed his gratitude to the Membership and Branch Development Committee, chaired by Mrs. Amina Oyagbola, F.CIoD, for their tireless efforts in organizing the induction ceremony. He also highlighted the significance of the IoD Nigeria as a leading voice in promoting good corporate governance across the Nigerian business landscape.
The President urged the new members to view their induction as both an honor and a responsibility. “Your admission into the Institute is a call to action, to be part of a global network of leaders committed to driving positive change in their organizations and the Nigerian economy at large,” he emphasized.
Central to Alhaji Borodo’s speech was the discussion on the growing impact of AI on governance and leadership. He noted that AI is not just a tool for enhancing decision-making and streamlining operations, but also a challenge that requires careful navigation concerning ethical governance, data privacy, and societal impact.
“As directors, we must engage deeply with the forces driving disruption to secure long-term success for our organizations. It is not enough to integrate AI into our businesses; we must also ensure it is used responsibly and aligns with our organizational values,” he said.
The event also featured a keynote address by Mrs. Olatomiwa Williams, M.CIoD, Country Manager of Microsoft Nigeria, who shared her insights on how emerging technologies can be harnessed for good governance and leadership. Mrs. Williams emphasized the need for directors to foster a culture of innovation within their organizations, encouraging experimentation and creative problem-solving as key drivers of growth.
In a significant announcement, Alhaji Borodo revealed that the Governing Council has approved a complimentary registration for the organizations of the newly inducted members as corporate members of the IoD Centre for Corporate Governance (IoDCCG). This initiative, he explained, is part of the Institute’s commitment to deepening good corporate governance practices in Nigeria.
As the ceremony drew to a close, Alhaji Borodo called on all members to actively engage in the ongoing conversation about the intersection of innovation and governance. He expressed confidence that the fresh perspectives of the new members would enrich the Institute and contribute to its mission of promoting excellence in leadership.
“You are joining this prestigious body at a pivotal moment in history,” Alhaji Borodo concluded. “Together, let us embrace innovation, leverage AI responsibly, and foster sustainable growth across all sectors. By doing so, we will not only secure the future of our organizations but also contribute to the broader development of our economy and society.”
The Chartered Institute of Directors Nigeria continues to set the standard for corporate governance, with its members leading the charge toward a more innovative and ethically governed business environment in Nigeria.
