‘Chartered Governance Institute Bill Will Strengthen Corporate Governance In Nigeria’

President of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Mrs Uto Ukpanah has expressed confidence that the proposed Chartered Governance Institute of Nigeria (CGIN) Bill will enhance corporate governance standards across Nigeria once enacted

Speaking at the ICSAN secretariat in Alausa, Ikeja, during a media parley marking her first 100 days in office as the institute’s 30th president, Ukpanah emphasised the bill’s transformative potential.

The bill, which commenced about some months ago and is actively moving through Nigeria’s National Assembly, aims to change the institute’s name to reflect better what its professionals actually do, and with ongoing advocacy to secure its successful enactment to modernise governance professions in the country.

Ukpanah explained that, while the institute is proud of its existing name, the Institute of Chartered Secretaries and Administrators of Nigeria, the name has evolved in ways that no longer fully capture the scope of corporate governance work done by its members.

She said: “As you’re aware, the National Assembly schedule is tight. So, we want to ensure that we continue to commit to following through on the bill.

“What this bill will do, even in the name change itself, is to reflect what our professionals actually do. Most of the time, when you hear the name ICSAN, we are very proud of our name. When you think back to the genesis of this institute from our parents’ body in the UK, it has evolved over decades in Nigeria, which is why we’re celebrating 60 years next year, even just in Nigeria.

“But with the evolution of corporate governance, when people hear the name, their mind goes to the traditional secretarial role. And it does not embrace our professionals’ broader governance activities and skills.

And so changing that name will provide that mindset of orientation, that the institute is much wider than secretarial.

“Governance includes risk management, includes ESG, includes compliance, administration. It is so broad. And so it will enable us to reflect our practitioners’ broader scope of governance.”

The institute is also expanding and collaborating with tertiary institutions across Nigeria, as it announced the signing of a linkage agreement with the Lagos State University (LASU), Ojo, Lagos State. “We want to catch them even before they leave the universities. ICSAN is very big about collaborating with universities to prepare graduates to move from gown to town prepared, “ she said.