It gives me great pleasure to welcome you all, on behalf of the Governing Council of the Institute of Directors Nigeria and the Chairman and members of the Fellows and Awards Committee, to the 2022 Fellows Luncheon.


I am particularly delighted to give this speech on the occasion as this is our first hosting of the fellow’s luncheon in the past three years, no thanks to the covid 19 pandemic.


This annual event is set aside by the Governing Council, as part of the Institute tradition to bring in Fellows of the Institute, Members and Non-members as well,  together to network, interact, as well as to share experience.


It is also an advocacy forum endorsed by the Governing Council where contemporary issues affecting leadership, corporate governance, management, ethics, and the overall economy are discussed.


On this occasion, we are privileged to have in our midst Sir Ademola Aladekomo, to speak to us on the theme; ‘Innovation, Sustainability and the Future Role of Directors in the Nigerian and Global Economy’


This, no doubt,  is a topical and contemporary discourse, coming at a time the world is wrestling with huge and multifaceted challenges. Our VUCA world had been further complicated by the ravaging COVID-19 pandemic, climate change and attendant social-economic crisis.


There is therefore no better time to address the matter of innovation than now as organisations all over the world are concerned about sustainability and survival amidst these issues. The impacts of these global challenges are so devastating and only innovative businesses will survive and thrive.


Ladies and gentlemen, as you may be aware, innovation can reposition organisations, it enhances market position, increase sales and market share, reduces waste, saves cost as well as increases productivity, growth and profitability. 

Therefore, as business environment changes, driven by technological and social shifts, innovation is central to ensuring the development and growth as well as sustainability of organizations. Directors, as business leaders must  be futuristic in their outlook and come up with new and creative ideas for business to thrive in this highly competitive environment.


As Directors therefore, we need to lead the charge and play major roles as we have the deepest understanding of the goals and motivations of our businesses, the cultures and nuisances of their operating markets, as well as a vested interest in the sustainability of these organizations.


Becoming an innovative organization is a continuous journey. While it does not have to be groundbreaking; it can involve simple, incremental enhancement in any area of an organization. It requires Companies that have a long history and legacy to embrace shifts in culture, process and structure to become consistently creative.


I am happy that our Guest Speaker of today, Sir Ademola Aladekumo, Founder is an innovator. He scores a lot first in the field of technology, especially fintech, where he dared to tread while many were still too scared to venture into the waters.


He has decades of experience in the IT, Fintech, management and allied industry. We are indeed privileged to have him in our midst, to deliver this lecture today.


I am confident that Sir Ademola Aladekomo will stimulate the minds of all our members and invited guests on the relevance of innovation in business sustainability.


I hereby encourage you to be open minded and participate actively in this forum so as to maximize the benefits from fora like this and also generate ideas that will benefit the economy.  


On behalf of the Governing Council and entire members of the Institute of Directors Nigeria, I thank our Guest speaker Sir Ademola Aladekumo for accepting and honouring our invitation.


I appreciate the Chairman, Arc. Thomas C. Awagu, DF.IoD, Members of the Fellows Committee, as well as the Secretariat, for their effort in organizing this event.


I thank you for your kind attention.



President/Chairman of Council.

IoD Nigeria

Thursday 16 June, 2022