The Society for Corporate Governance Nigeria hosted a hybrid Breakfast Meeting on the 16th of June, 2022 at the Oriental Hotel, Victoria Island, Lagos. The Theme of the Meeting was The Futureproof Board: Corporate Governance in the Digital Era.
The President and Chairman of the Board of Directors, Mr. Muhammad K. Ahmad, OON delivered the opening remarks. In his welcome address, he reiterated the need to equip the Board of Directors of companies and other stakeholders for the digital era. He also encouraged everyone to enjoy the meeting as it was going to be insightful.
The Keynote speech was delivered by the CEO of the Society, Mrs. Chioma Mordi. In her speech, she stated that the world is evolving and the pandemic heightened the digital awareness and usage for business operations, meetings, and remote work, which has steadily become the order of the day. She further stated that digital tools play a major role for administrative units including boards, as corporate governance strategies require technology, knowledge, and management processes to promote transparency in organisations. It is these tools that enable them respond to challenges efficiently and effectively.
She also highlighted that while digital tools enhance processes, there are some challenges that accompany its utilization in organisations such as security breaches and reputational risks. She stated that Learning & Development and upskilling strategies, as well as full restructuring, must also be considered when thinking about future-proofing an organisation.
She announced to an engaged audience that after almost 15 years of operation, the Society in line with new trends and expectations has undergone digital transformation. Following a 360-degree review and audit of the Society’s processes, service offerings, historical impacts and digital footprint was conducted and the outcome of the audit has led to the development of a strategic blueprint and integrated marketing communication plan.
She subsequently relaunched and unveiled the Society’s new brand and logo. She stated that the new brand aligns with the core values of the society which are Leadership, Integrity, Professionalism, Accountability, and Transparency. She stated that the new brand ensures that the values remain intact. She also announced that a newly designed website was created and can be accessed via https://corpgovnigeria.org/.
She stated that with the launch of the new brand, the Society will also develop initiatives on thought leadership that meet the changing demands of the roles and responsibilities of existing directors, aspiring directors, and young directors – initiatives like board mentorship programmes, capacity building for aspiring female directors, coaching sessions and much more.
After the relaunch and unveiling of the Society’s new brand and logo, the Panel discussion commenced. The panelists were Sir Egbert Imomoh, Chairman of Investment One Financial Services Limited who has decades of board room experience, Mrs. Folusho Gbadamosi, an Executive Director at Junior Achievement Nigeria, and Adeleke Alex-Adedipe who is the Managing Partner of Duale, Ovia and Alex-Adedipe, a full-service commercial law firm. The Panel discussion was moderated by Mrs. Nkemdilim Uwaje Begho CEO of Future Software Resources Ltd. (Futuresoft).
During the panel discussion, all panelists agreed in their respective statements that indeed the world has gone digital and there is need for the Board of directors of companies to be digitally savvy for effectiveness of the Board and the organisations at large. They also stated that there is the need for Corporate Governance framework for startups, SMEs as well as the required technology to improve effectiveness and sustainability of these companies. They also highlighted the fact that training and education of Board members on Corporate Governance and technology cannot be overemphasized as it makes for futureproof boards and organizations particularly in this digital era.