Nigerian economy to get boost as CIoD raises directorship bar

Rallies MDAs

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The Chartered Institute of Directors (CIoD) Nigeria is standardising corporate leadership by raising the bar for directorship, a move that could help curb boardroom failures, improve accountability, reduce malfeasances and make the corporate environment more resilient, transparent, accountable and investor-friendly.

Addressing newsmen at a press conference for the Chartered Director Certification Programme (CDCP) at its headquarters in Lagos, the President/Chairman of Governing Council of the Institute, Otunba Oyebanji, told newsmen that the certification is necessary for sustainable institutional and national development.

With the theme, “Advancing Board Excellence and Corporate Governance Through the Chartered Director Certification”, Oyebanji noted that boards occupy a critical position in every organisation, which provides strategic direction, oversees management, safeguards stakeholder interests and ensures that institutions remain accountable, resilient and focused on sustainable value creation.

“The decisions made in boardrooms affect not only organisations and their shareholders, they also affect employees, customers, investors, communities and the wider economy. Directorship must therefore be recognised as a position of profound responsibility requiring competence, sound judgement, integrity and continuous professional development.

“The programme translates our chartered mandate into a credible professional pathway for developing and validating the competence of directors and senior leaders,” the president declared.

He explained that the programme combines structured learning, practical boardroom experience, rigorous examinations and experience-based assessment. It will be delivered through a flexible virtual learning model that accommodates the demanding schedules of directors and senior executives without compromising academic or professional rigour.

The certification pathway, he confirmed, comprises three progressive stages: Stage I, which is the Certificate in Company Directorship; Stage II, which is the Advanced Certificate in Company Directorship; and Stage III, which is the Chartered Directorship stage.

“Those who successfully complete all the programme requirements will be awarded the Chartered Director designation and will be entitled to use the professional suffix “Ch.Dir” after their names. The designation will represent much more than an additional qualification.

“It will be a mark of demonstrated competence, professional credibility, ethical leadership and commitment to the highest standards of directorship and corporate governance. The programme is relevant to board chairmen, executive directors, non-executive directors, independent directors, chief executive officers, governance professionals, business owners, entrepreneurs and public-sector leaders.

“However, the award of Chartered Director status will remain subject to the Institute’s applicable membership, experience, assessment, ethical and fit-and-proper requirements. More so, we have a code of conduct, anyone found guilty of any misconduct will face the disciplinary action,” he warned.

For organisations, he stressed, “the benefits are equally significant. Boards comprising competent, ethical and professionally developed directors are better positioned to make informed decisions, manage risks, inspire stakeholder confidence and create sustainable value.

“The Chartered Director Certification Programme is therefore not only an investment in individual development; it is also an investment in stronger organisations, more resilient institutions and a better-governed economy. Together, let us build better directors, stronger boards, more resilient institutions and a more prosperous nation,” he implored.

Commenting, CIoD’s First Vice President, Mrs Amina Oyagbola, described the programme as a significant milestone in the Institute’s efforts to strengthen directorship and governance across Nigeria. “Today, we have unveiled more than a certification programme. We have affirmed a higher standard for directorship and renewed our commitment to building better directors, stronger boards and more resilient institutions.”

For the Chairman, Director Development and Certification Committee, Mrs Foluso Olaniyan, the programme was deliberately structured to move candidates from professional experience to demonstrated competence. “The programme offers a journey from experience to examined competence, and from professional aspiration to accountable recognition. It recognises experience, but it does not rely on experience alone. It combines learning, practical application and formal assessment so that the outcome reflects both knowledge and judgement.”

The CDCP curriculum covers corporate governance, board roles and responsibilities, strategic leadership and decision-making, financial stewardship, risk management and internal control, board dynamics and effectiveness, sustainability and corporate social responsibility, and personal leadership development.

The Director-General/Chief Executive Officer of the Institute, Dr Taiwo Nolas-Alausa, in a remark, said the programme is ultimately about strengthening the quality of judgement and accountability directors bring to the boardroom. “The designation must communicate that its holder accepts a higher level of accountability, not merely a higher level of recognition. The programme forms part of a wider director-development ecosystem focused on reflection, peer learning, continuing education and sustained professional development,” he maintained.

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