IoD Nigeria is an affiliate of the IoD UK, which was founded in London in 1903 and granted a Royal Charter by King Edward VII in 1906. Some Nigerian members of the IoD UK formed IoD Nigeria in Lagos in 1983. In 1997, the Council of the Institute, then a branch, sought autonomy and was granted affiliate status.

IoD exists in many countries, mainly commonwealth countries, and offers members a network of over 85,000 members worldwide.

Its Membership is drawn from Directors and Business Leaders in the public and private sectors and from a diversity of enterprises in commerce, industry, services, professions, bureaucracy, etc.

IoD represents directors in their individual capacity and empowers them to contribute significantly to the welfare of the individuals, the companies they run and to national development. IoD works to establish and maintain contact amongst business leaders at the highest levels and interfaces with government for the creation and entrenchment of favourable business friendly policies in the seemingly challenging circumstances for the creation of wealth.

IoD can safely be described as a prime leadership forum in the organized private sector that helps directors to fulfil their legal and professional responsibilities for the benefit of the individual, business and society as a whole.

IoD Nigeria National Secretariat is located at 28 Cameron Road, Ikoyi, Lagos. The secretariat is equipped with exclusive members lounge, member's dining room, auditorium and a meeting room.

Membership is made up of Directors and Business leaders from the public and private sectors and across diversity of enterprises in commerce, industry, services, professions, bureaucracy, etc. Membership is on Individual capacity, and provides a platform to establish and maintain contact amongst business leaders at the highest levels.

It also provides a platform to interfaces with government for the creation and entrenchment of favorable business friendly policies in seemingly challenging circumstances for the creation of wealth.

 

Membership Grades and Criteria

The membership grades for the Institute of Directors Nigeria consists of ASSOCIATE, MEMBER and FELLOWSHIP.

Only members can proceed to fellowship grade. Full membership grade if attained, could be upgraded to fellowship status on application. For the purposes of IoD membership, the following definitions apply:

(1) Entity: is a registered company, corporation, business unit, institute, trust, local government, business association, charity, professional partnership or similar organisation, whose business affairs and strategies require direction.

(2) Substance : normally requires a minimum annual business turnover or budget of N50 million.

(3)Director: must be a member of the body which is responsible for and accountable for the strategic business direction and corporate governance of the “entity” and which makes the decisions that determine its prosperity and integrity.

Associate

To qualify as an Associate member, an applicant must be over 25 years and be:

  •  A sole proprietor of an unincorporated business existing for a minimum of three years.

  •  A senior executive of a national company reporting directly to a board member for a minimum of two years.

  •  A senior executive in an education or health authority or other public body of similar standing for a minimum of two years.

  •  A company director or partner in a professional practice, or have a profession and be working in industry or commerce of less than three years.

Elected associate are encouraged to use the designation “AM.IoD” after their names.

Member

To qualify as a member, an applicant must be over 25 years, and be a “Director” of an “Entity” which is a solvent going concern of “Substance”, as broadly defined below and have been:

OR

OR

Elected members are encouraged to use the designation “M.IoD” after their names

  •  A Company Director for a minimum of three (3) years and be in business for a minimum of seven (7) years.
  •  A director for a minimum of one (1) year, having been in business for a minimum of five (5) years and must have attended the IoD two-day Company Direction Course.
  •  In business for a minimum of five (5) years and must have attended the IoD Company Direction Course.

Fellow

Fellowship grade is open to members:

  • That has been members of the Institute for a minimum of 10 years with unblemished character.

  • That has a minimum of 10 years Directorship experience in reputable organization’s and have sustained their IoD membership for not less than 5 years.

  • Those that meet the minimum Directorship experience above with less than five years membership sustenance but found worthy at the discretion of the Executive Committee and Council on the recommendation of the Membership Committee.

  • Must have attended the Company Direction Course.

Elected members to fellowship grade are encouraged to use the designation “F.IoD” after their names.

Election Fees For New Members

(Payable only once on application together with first year’s membership fee)

     
  Development Levy: N 115,000
  Director’s Collection Fee: N 15,000
  Induction: N 40,000
  Capitation Fee: N 10,000
  Annual Membership Fee: N 50,000
  Annual Conference Fee: N 45,000
  Total Payable by New Member N275,000