IoD restates commitment to capacity development of directors
The Institute of Directors (IoD) Nigeria has reaffirmed its commitment to the improvement of corporate governance through capacity development for directors in the country.
Besides, the institute recorded an increase in its 2016 financial year from 19 in 2015 to 28 in 2016 representing 47.3 per cent while realisable income grew by over 60 per cent in the year under review.
It also noted that the institute had commenced moves to increase the number of training programmes for its members in 2017.
Speaking at the 2016 annual general meeting (AGM) in Lagos, President and Chairman of Governing Council, IoD Nigeria, Samuel Yemi Akeju, said the year turned out to be one of the toughest Nigeria had in over 25 years.
But in spite of the challenges of 2016, the institute sustained growth in several areas of operation and activities through focused and unwavering commitment of its committees.
“We are a Nigerian organisation and we have been affected by the economic recession, which affects every other segment. We didn’t expect it as such. We were growing at a fast space and we took quite a few things for granted in 2016. However, we have learnt our lessons and we are going to look inwards and strategize to ensure that some of our projects that we were unable to realise in the past are realised in the near future”.
Akeju noted that one of its outstanding achievements during the year was the capacity development of directors.
“We were more interested in developing the capacity of directors and I think because of the economic recession, a lot of directors are looking inwards to improve their understanding. If those who are strong are not making it, if they are weak definitely they don’t stand a chance.”
“it is in the interest of organisations that those who take decisions at top level should be properly equipped and trained to enable them render quality service,” he said.
Akeju revealed that the institute has discussed with one of its partners, VETEBRA on the commencement of electronic voting to conduct the 2018 Governing Council elections, stating that the process for its final endorsement and commencement will soon be considered.