The Chartered Institute of Directors (CIoD) in Nigeria has called for coordinated reforms to strengthen governance, improve institutions and enhance Nigeria’s global competitiveness.
Presenting its inaugural biannual Governance Health Check of the Nation report on Tuesday in Lagos, the CIoD President, Mr Adetunji Oyebanji, described the report, entitled, “Tracking Governance, Strengthening Institutions and Enhancing Competitiveness”, as a comprehensive assessment of governance trends, board effectiveness, regulatory developments, risk exposures and institutional resilience.
Oyebanji said that governance had become a strategic imperative amid technological disruption, sustainability expectations and evolving regulatory requirements.
He said that recent legislative and regulatory reforms offered opportunities to deepen transparency, accountability and responsible leadership.
According to him, the Investments and Securities Act 2025 has strengthened Nigeria’s regulatory landscape, but stronger compliance is required to maximise its benefits.
He explained that the Investments and Securities Act 2025 has strengthened Nigeria’s regulatory landscape, but stronger compliance is required to maximise its benefits.
Oyebanji expressed confidence that implementing the report’s recommendations would strengthen institutions, restore investor confidence and improve competitiveness.
He said that the institute would publish the Governance Health Check every six months to monitor progress and identify emerging governance issues.
Presenting the report, Dr. Adeola Agbato, CIoD Director of Advocacy and Stakeholder Engagement, said that it contained recommendations for improving governance across public and private institutions.
Agbato said that the assessment covered eight governance dimensions and identified 10 key findings requiring urgent attention.
She said that the report drew on 81 verified research sources covering January to June 2026.
According to her, governance performance data, compliance metrics, institutional case studies and cross-sectoral analysis also informed the assessment.
Agbato identified AI governance, board effectiveness, internal controls, cybersecurity, succession planning and sustainability reporting and public sector governance as priority areas.
She said that AI governance had become one of the most challenging responsibilities for boards globally.
The governance expert urged policymakers to fast-track the Nigerian Public Sector Governance Code and strengthen regulatory coordination.
She also called for reforms promoting transparency, accountability and effective oversight across public institutions.
Agbato urged development partners and investors to support governance capacity building, board development and institutional reforms.
According to her, Nigeria’s governance framework is structurally sound, but enforcement remains uneven.
The CIoD Director-General, Dr Taiwo Nolas-Alausa, described good governance as the foundation for resilient institutions and sustainable economic growth.
Nolas-Alausa said the report would provide evidence-based insights to support policymaking and strengthen governance practices.
He said collaboration among government, regulators, businesses, investors and civil society remained critical for translating governance frameworks into measurable outcomes.
“This report is neither an indictment nor a scorecard. It is a mirror that reflects where we stand today and a roadmap to where we must go,” he said.
GIK/APA