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By Cynthia Alo

The Institute of Directors, IOD, has called on the newly inducted members to maintain good corporate governance principles and be guided by the Code of Ethics of the Institute in their work places and in their private affairs.

Speaking at the induction ceremony held as a hybrid, President, IOD, Ije Jidenma stressed that the quality of membership of any professional body naturally defines its input and relevance in the society.

She noted that the institute remains a great brand in the Nigerian business environment as it has over the years, made tremendous impact in both the public and private sectors of the Nigerian economy. “The institute has groomed Directors into becoming highly responsible ambassadors of Corporate Governance and sound ethical practices as is obtainable globally,” she added.

She said: “IoD Nigeria prides itself as the National Champion and Advocate of good corporate governance in the public and private sectors of the economy. This is reflected in its members who are dedicated and well positioned to always manifest an uncommon ability to direct and lead their organizations in accordance with the best global governance practices.

“The advocacy role of the Institute is evident in the entrenchment of best practice in how our directors lead their organizations through the capacity development program that our new and existing members are exposed to early enough and throughout their membership of the Institute. You will agree with me that the successful trajectory of an organization rests largely on the performance, competence and integrity of its directors.”

She further urged all members to remain steadfast and focused in supporting IoD Nigeria for its growth and development adding, “Our Institute will continue to demonstrate greater concern for and commitment to the governance of all private and public sector organizations in Nigeria, and the leadership of the Institute would continue to appreciate any ideas and input by existing and new members towards the achievement of the Institute’s vision.”

“Let me, however, point out to you that your admission into the Institute, today is both a call and admission into the global network of responsible group of leaders that have committed themselves to be change agents in their business and private lives and have pledged to champion positive changes in their organisations and the Nigerian economy at large.”

The IoD boss noted that  in August 2020, the Institute launched its new Code of ethics for members and staff of the Institute, in order to reposition its members and staff on issues bothering on ethical conduct and expectations, stressing that the Institute has been able to sustain a regime of consistent advocacy in this field with a record of substantial achievement and tremendous progress.

In her keynote address themed, ‘A Critical Assessment of Corporate Governance and Industry Standards in the Power Sector’, Managing Director, Eko Electricity Distribution Company Plc, Mrs. Tinuade Sanda, said that a good corporate governance  helps to shape the overall performance of any organizations.

She noted that the theme was apt considering the critical state of the power sector in Nigeria adding that good corporate governance is a key driver of corporate responsibility and business prosperity.

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