CIoD Nigeria and You

About The Chartered Institute of Directors Nigeria

Who We Are

The Chartered Institute of Directors Nigeria (CIoD Nigeria) is a Professional Institute which promotes directors, develops corporate governance, represents our members to government, enhances the economy for business development and provides services to our membership.

The Chartered Institute of Directors Nigeria (CIoD Nigeria) will promote good corporate governance in Nigeria by empowering those who are charged with governance duties to discharge those duties effectively and legally.

CIoD Nigeria aims to safeguard the integrity and status of directorship as a profession by serving as the professional body for directors and through the provision of a professional designation which serves to assess and credit mastery.

CIoD Nigeria would take a continuing and effective interest in legislation as this relates to governance and directors’ duties to ensure as far as possible that basic commercial freedoms and rights are preserved and that a climate conducive to sound economic growth is maintained.

CIoD Nigeria commits to undertake, provide, and support or assist in research, thought leadership, guidance, advice, opportunities for peer interaction, education and training which may assist in the attainment or advancement of any of the objects of CIoD Nigeria

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

CIoD Nigeria can safely be described as a prime leadership forum that helps directors to fulfil their legal and professional responsibilities for the benefit of business and society as a whole.

CIoD Nigeria is a not-for-profit, membership organization which enjoys the support of key market core institutions namely the Securities and Exchange Commission (SEC), The Nigerian Stock Exchange (NSE), The Financial Reporting Council (FRC) of Nigeria, Corporate Affairs Commission (CAC) as well as international multilateral organizations such as the International Finance Corporation (IFC). Today, IoDNigeria is accepted domestically and internationally for its leading role in corporate governance and has been cited as one of the most successful professional bodies in the national and international forums.

The Chartered Institute of Directors Nigeria (CIoD Nigeria) has long been recognised as an influential and respected membership organisation in Nigeria. With more than 30 years' success, we are measured by our members, who are some of the most skilled and experienced business leaders in the country, representing the full business spectrum.

Along with strengthening the range of membership benefits available to members around the world, IoD Nigeria represents the views of its members at the continental level as one of the members of Africa Corporate Governance Network. IoD Nigeria was admitted as a member of the Africa Corporate Governance Network in February 2014.

 VISION

To be a leading world class professional institute consistently promoting best Corporate Governance practices, director development and advocacy.

MISSION

To build capacity of directors by competent and committed professionals through well developed programmes, mentoring schemes, sound ethical practices and enrich public policy through advocacy.

CORE VALUES

I - Integrity

M -Meritocracy

P -Professionalism

A -Accountability and Probity

C -Customer Centricity

T -Teamwork

Our Objective

To establish and conduct an Institute to safeguard and promote the interest in Nigeria of Directors of companies, business executives and professional people by carrying on of activities which are intended to:

(i) Improve the professional competence of its members as company directors and business leaders in Nigeria.

(ii) Provide an active forum and effective voice for its members in public affairs.

(iii) Charter its members as Directors and formulate and monitor the ethics of Directors as professionals.

(iv) Enlighten and educate its members regarding their legal, moral, and general rights and responsibilities in respect of their companies and organizations and in respect of the society as a whole.

(v) Advance the competence and knowledge of its members by arranging and sponsoring seminars, course of study, conferences, and visits within and outside Nigeria.

vi) Encourage, promote and co-ordinate research into relevant subjects and to compile, publish or sponsor the publication of journals in Nigeria and to print and publish any newspapers, periodicals, bulletins books or leaflets that the institute may think fit for the promotion of its objects.

vii) Take a continuing and effective interest in legislation to ensure as far as possible that basic commercial freedoms and rights are preserved and that a climate conducive to strong economic growth is maintained in the country.

viii) Uphold, maintain, and improve the economic climate for the promotion of the concepts of corporate entity/personality, free enterprise, the welfare of the state and stable government in respect thereof.

(ix) Maintain and strengthen the bonds of reciprocity existing between the Institute of Directors all over the world.

(x) Assemble, maintain, and extend such collection of books and publications including microfilm, reading and copying as it considers appropriate to an educational research library of the highest standing for the use of such persons as it thinks fit and upon such terms and conditions as it considers necessary.

(xi) Provide facilities and services of all kinds, including rooms, libraries, travel arrangements, meeting places, recreational facilities, and offices for the use of members of the Institute.

(xii) Create, administer, and support bursaries, chairs, exhibitions, fellowship, lectures, prizes and scholarships for the advancement or encouragement of learning and study tenable at any school, technical institution, university or other places of learning and study.

(xiii) Undertake, administer, and support or assist in undertaking, administering, and supporting organizations, projects, research schemes and campaigns which may assist in the attainment or advancement of any of the objects of the Institute.

(xiv) Engage in consultancy and advisory services generally on a non-commercial basis.

(xv) To establish such number of Branches of the Institute of Directors Nigeria and in such locations as it deems fit to enable it carry out any of its objects mentioned above.

IoD Nigeria aims to achieve these objects through.

Promoting corporate governance practices and standards through continuing development of policy notes, position papers and guidelines

Enabling and developing directors' skills through director development programmes, creating a platform of peer interaction and the exchange of learning and ideas through networking events as well as advisory services and the facilitation of board appraisals

 Safeguarding the integrity and status of directorship as a profession by being recognised as a professional body for directors.

Advocating and providing an effective voice for directors in public affairs through effective liaison with regulators and media.

Providing ancillary benefits for members by maintaining a non-executive director register and   negotiation of benefits from a variety of third parties.

 

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Corporate Governance

Corporate governance is the structure through which an organisation is directed, controlled and held accountable. It defines a framework of rights, responsibilities, procedures and relationships amongst the various stakeholders of an organisation, including its directors, managers, shareholders and regulators.

The board of directors – or equivalent governing body - is at the heart of any framework of corporate governance, and is arguably the most important mechanism for ensuring that the organisation makes effective decisions which are consistent with its ultimate objectives and mission.

What the section covers:

The corporate governance section of the website covers a range of issues that affect directors and those on the governing bodies of other types of organisation including:

(1) The relationship between directors and shareholders

(2) Governance of unlisted companies and public bodies

(3) Corporate responsibility and sustainability

(4) The role of the director and the board

(5) Corporate governance in Nigeria

(6) Corporate governance codes

(7) The Companies Act

(8) Risk management

European Corporate Governance Institute (ECGI)

The ECGI is an international scientific non-profit association. It provides a forum for debate and dialogue between academics, legislators and practitioners, focusing on major corporate governance issues and thereby promoting best practice.

International Corporate Governance Network (ICGN)

A membership association of company directors in Canada.

OECD Principles of Corporate Governance

A set of non-binding principles and guidelines developed by the Ad-Hoc Task Force on Corporate Governance, embodying the views of OECD Member countries.

The Corporate Library

Founded in 1999 by Nell Minow and Robert Monks, partners in Lens Investment Management and co-founders of Institutional Shareholders Services, the Corporate Library serves as a repository for research, study and discussion about the nature of the modern global corporation, with focus on corporate governance and the company management, their boards and shareowners.

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