The Financial Reporting Council of Nigeria (FRC), Securities and Exchange Commission (SEC), and other stakeholders have urged boards across the country to strengthen ethical governance as organizations navigate a world marked by rapid technological and socio-economic disruptions.
The call came during the 20th anniversary corporate governance conference of the Society for Corporate Governance Nigeria (SCGN) on Thursday. Themed “Strengthening Ethical Governance in a Disrupted World: Reflection on Governance’s Journey for a Sustainable Future,” the event marked two decades of promoting integrity, transparency, and responsible leadership in Nigeria.
Represented by Titus Osawe, FRC’s Coordinating Director, the agency highlighted challenges such as knowledge gaps, greenwashing, data manipulation, digital disruption, artificial intelligence, and digital assets as threats to ethical governance. Osawe stressed the need for strong ethical leadership and institutional commitment to integrity.
“Strengthening ethical governance is a collective responsibility. All stakeholders must prioritise ethics and integrity to build a sustainable future for our country,” he said.
The SEC, represented by John Briggs, Head of its Lagos Zonal Office, emphasized that good governance is critical in addressing climate change, social inequality, and technological disruption, noting that sound governance and transparent sustainability reporting are now central to long-term value creation and national development.
Keynote speaker Dr. Omobola Johnson, Board Chair of Guinness Nigeria Plc, highlighted diversity on boards as a critical element of ethical governance. She argued that diverse boards, with varied experiences, foster better decision-making and uphold integrity.
SCGN President Muhammed Ahmad and founding director Professor Pat Utomi underscored that ethics must be embedded in organizational culture, guiding actions beyond mere compliance. Utomi urged leaders to cultivate conscience and speak truth to power to prevent decisions driven solely by emotion.
The conference featured a panel including Taiwo Oyedele, Kim Anderson, Yeside Kazeem, and Suzanne Iroche, moderated by Adedayo Amzat, and launched three new publications: Corporate Governance and Sustainability Reporting in Nigeria, Governance in Motion: 20 Years of Corporate Governance Influence and Impact, and the 28th edition of the Journal of Corporate Governance.
The SCGN conference reaffirmed that ethical governance, transparency, and accountability are essential pillars for sustainable growth and resilient institutions in Nigeria.
