Institute of Directors to launch independent directors’ register 

The Institute of Directors (IoD) Nigeria, a foremost institute in the human resource development at the directorate level, in response to the need and demand for certified Independent Directors in Nigeria, has taken a proactive initiative that will lead to a formal inauguration of its Independent Directors Register to guarantee quality representation on boards of corporate entity in Nigeria.

An Independent director is a non-executive director of a board who does not have a material or pecuniary relationship with the company or related persons, except sitting fees. The concept of independent directors is gaining traction in many developed and developing economies around the world and has become a constant feature in contemporary corporate governance codes and company law statutes.

Mohammed Jumba, acting director-general/CEO IoD, in his remarks said the maiden edition of the independent directors register would feature participants of the IoD Master class for Independent Directors.

According to him, the purpose of the Independent Directors Register is to create a database of independent directors in the country and to make it available to organisations looking to appoint directors.

“The Independent Directors Register of IoD Nigeria is a commendable initiative by the institute to ensure that independent directors in Nigeria are truly independent, with the capacity to deliver requisite value expected of directors. And in view of the conditions for enlistment in the Independent Directors Register, the IoD Nigeria is championing continuous professional development of directors, adequately arming them for the increasing challenges of running companies in an ever dynamic world,” Jumba said.

The Master class of the IoD Nigeria is in two streams, holding on Monday 17 and Tuesday 18 July, respectively. It is however, recommended that directors interested in featuring in the register should take the certification course of the institute.

 

Seyi John Salau