The Chartered Institute of Directors Nigeria has been urged to avoid corporate governance failures and leverage on technology.
The Managing Director of Remita Payment Services Limited, Mr ‘DeRemi Atanda, made this call at the CIoD’s Annual Fellows Investiture with the theme ‘Leveraging technology for improved governance in the 21st century’ in Lagos.
He said, “To avoid further corporate governance failures, directors should leverage technology to coordinate, communicate.
“We need to play a more frontline role in communicating the value of our businesses in a digitally connected world.”
He charged the new fellows to continue in the act of improving corporate governance in Nigeria by leveraging technology.
Governance failure, he said, continued to have a significantly higher impact on everyone and there must be a deliberate attempt to keep this at minimum levels.
“For directors to remain relevant, they must ensure transparency to stakeholders, embrace technology for effective governance and also establish sustainability in structure and operations,” he said.
In his address, the President and Chairman of the Council of the Institute of Directors Nigeria, Alhaji Tijjani Borodo, said, the annual event was part of the institute’s customs and traditions, where it recognised and honoured its members for their unrelenting commitment, and valuable contributions to the growth and development of the institute and the country in general.
According to Borodo, “We are all aware of the fact that corporate space is becoming more difficult to navigate due to today’s peculiarities and challenges.
“I urge you to remain focused and steadfast in your pursuit of issues that will help CIoD Nigeria grow and develop positively.”
He noted that the institute awarded fellowships to outstanding members who had excelled in their service to the institute and made significant contributions to their companies and the Nigerian business community.
Borodo said, “We will advocate for policies and practices that will promote growth and innovation, centered on three points, which I call the 3Rs, the review, reform, and reinvigoration of CIoD Nigeria’s membership and branch development.
“I will not fail to remind you of the candour, honour, respect, demand, and most importantly, challenges that come with this highly sought-after and esteemed status you hold today within your Institute.”