The investiture of Dr. Adetunji Oyebanji as the 19th President of the Chartered Institute of Directors (IoD) Nigeria marked a significant moment for corporate governance in the country. The event, held in Lagos, brought together prominent figures from various sectors – governance experts, business leaders, and public officials – all united in their call for a new era of ethical, purpose-driven, and adaptive governance. This collective appeal underscored the growing recognition of the critical role that effective governance plays in national development and the urgent need for directors to embrace a more dynamic and responsible approach to leadership. Oyebanji’s investiture served as a platform to not only celebrate his accomplishments but also to articulate a vision for the future of corporate governance in Nigeria.
Central to the discussions was the acknowledgement that traditional, centralized governance models are no longer adequate in today’s rapidly evolving business landscape. Professor Fabian Ajogwu, a renowned governance advisor and legal author, emphasized the need for a paradigm shift towards a governance framework grounded in ethical principles, adaptable to technological advancements, and focused on institutional strengthening. He argued that this transformation is essential for Nigeria to realize its full potential and secure its place on the global stage. Ajogwu’s call for ethical leadership resonated throughout the event, highlighting the importance of integrity and moral courage in navigating the complexities of the modern business world.
Reinforcing the theme of ethical leadership, Osun State Governor Ademola Adeleke, represented by Commissioner for Commerce and Industry, Rev. Bunmi Jenyo, defined leadership as a triad of service, sacrifice, and vision. He commended the IoD’s longstanding commitment to promoting corporate governance and ethical business practices, urging directors to embrace innovation, meritocracy, transparency, and global competitiveness. This emphasis on forward-thinking leadership underscores the need for directors to not only uphold ethical standards but also to drive organizational growth and contribute to national economic development.
Professor Enase Okonedo, Vice Chancellor of Pan-Atlantic University, further emphasized the importance of ethical conduct, stressing the need for directors to demonstrate moral uprightness and courage when faced with ethical dilemmas. She cited Oyebanji’s distinguished four-decade career in Nigeria’s oil and gas industry, including his tenure as Managing Director and CEO of 11 Plc, as a testament to his unwavering commitment to professionalism and integrity. Okonedo’s remarks served as a powerful reminder that ethical leadership is not merely a theoretical concept but a practical imperative that must be embodied by those in positions of authority.
In his acceptance speech, Oyebanji articulated his vision for the IoD, outlining a three-point agenda centered on Implementation, Collaboration, and Engagement. This strategic framework underscores his commitment to translating principles into action, fostering partnerships across sectors, and actively engaging with stakeholders to advance the cause of good governance. He pledged to lead with humility, integrity, and dedication, aspiring to position the IoD Nigeria as a beacon of governance and leadership excellence in Africa. This ambitious vision reflects Oyebanji’s determination to elevate the institute’s role in shaping corporate governance practices across the continent.
The event culminated with a royal blessing from the Ooni of Ife, Oba Adeyeye Ogunwusi (Ojaja II), who prayed for Oyebanji’s success, acknowledging his cultural advocacy and expressing confidence in his ability to make a significant impact on the governance landscape. This endorsement from a revered traditional leader further solidified the significance of Oyebanji’s appointment and the collective hope for a future where ethical and effective governance drives progress and prosperity in Nigeria. The investiture ceremony, therefore, served not only as a celebration of a new leader but also as a rallying call for a renewed commitment to the principles of good governance.
