NBA-SBL, NGX, CIoD, Urge Boards to Tackle AI Risks, Embrace Sustainability

The Nigerian Exchange Limited (NGX), Nigerian Bar Association Section on Business Law (NBA-SBL) and Chartered Institute of Directors Nigeria (CIoD) have urged corporate boards to strengthen oversight of technological risks, sustainability and long-term business performance to boost investor confidence.

The call was made at the 2026 Corporate Governance Triangle Annual Colloquium in Lagos, themed “Governing for the Future: Board Leadership, Regulatory Innovation and Sustainable Value Creation in a Digital Economy”.q

NBA-SBL Chairman, Baba Alokolaro, represented by Vice Chair Ayoyinka Olajide-Awosedo, said rapid technological advancement was reshaping boardroom responsibilities and required adaptable governance frameworks.

NGX Chief Executive Officer, Jude Chiemeka, represented by Head of Trading and Products, Abimbola Babalola, stressed that transparent disclosures, effective board oversight and sustainability integration were essential to investor confidence and long-term capital formation.

He highlighted the NGX N-Zero Programme, which supports listed companies in improving climate-related disclosures, assessing emissions and developing decarbonisation strategies.

CIoD President, Otunba Adetunji Oyebanji, urged Directors to move beyond regulatory compliance and become active drivers of stakeholder value, organisational resilience and public trust.

In her keynote address, DLA Piper Africa Nigeria Country Manager, Mrs Bola Tinubu, challenged boards to strengthen oversight of artificial intelligence, sustainability disclosures and emerging business risks.

She also called for simpler filing requirements and proportionate regulation.

NGX Regulation Limited Chief Executive Officer, Olufemi Shobanjo, cited the World Economic Forum’s Global Cybersecurity Outlook 2026, which found that 87% of respondents identified AI-related vulnerabilities as the fastest-growing cyber risk.

He said effective governance depended not merely on codes and guidelines but on the quality of decisions taken by corporate boards.