Company secretaries must evolve from compliance to strategy amid AI, ESG risks – Akinmusire

Company Secretaries in Nigeria must move beyond compliance and become strategic advisers to boards as businesses face rising regulatory change, cybersecurity threats, ESG demands, and rapid technological disruption.

Folasade Akinmusire made the call at the launch of her book, ‘The Evolving Role of a Company Secretary – The Quiet Catalyst,’ on Saturday.

Akinmusire said the profession is no longer limited to record-keeping and statutory filings.

She described the company secretary as the “unseen force behind an effective board” that must now balance law, governance and commercial realities while safeguarding integrity and enabling innovation.

Akinmusire noted that Artificial Intelligence is already reshaping governance through automated compliance, risk monitoring and board analytics. But she cautioned that technology cannot replace judgement.

“AI can analyse information, but it cannot exercise judgement. It cannot replace integrity, ethical leadership, discretion, emotional intelligence, or the trust that defines the relationship between a company secretary, the board and stakeholders,” she said.

The expanded role, she added, comes with significant challenges. “Today’s company secretary must navigate complex regulatory obligations, manage diverse stakeholder expectations, support increasingly sophisticated boards, and ensure governance frameworks evolve alongside organisational growth.”

“Much of this responsibility is carried out quietly, often behind the scenes, with little public recognition.”

She stressed that the role now demands independence, sound judgement, and the courage to provide objective advice even when difficult.

According to her, an effective company secretary contributes far beyond avoiding regulatory sanctions.

“A competent company secretary strengthens the quality of board deliberations, improves enterprise risk management, enhances investor and stakeholder confidence, facilitates timely execution of strategic initiatives, and promotes transparency and accountability,” she said.

In today’s environment, governance has become a strategic business enabler that directly supports operational excellence, organisational resilience, and long-term shareholder value, she added.

Akinmusire said the future belongs to governance professionals who combine professional excellence with digital capability.

She described the book as a timely contribution that captures the transformation “from administrator to strategic adviser, from compliance officer to governance leader, and from record keeper to trusted business partner.”

Adeyinka Hassan, chief executive officer at the Centre for Enterprise Governance (CEG), in keynote remarks titled ‘Governance under Fire’, emphasised that when a boardroom is silent, it does not mean that the board members are not doing something; it could be as a result of not doing the right thing, or not doing things right.

“Where there is a corporate governance crisis, it’s not just about the board; shareholders cannot get in; the cost of silence in the boardroom is enormous.

“The cost can break down an organisation. Where board members are silent, the entire board is silent, and this can lead to a breakdown of rules and orders, which could cost some people their jobs and income,” he emphasised.

Hassan implored each one, both directors, the corporate secretary, and anybody who has interaction with the concrete world, to pick up a copy of the book. According to him, such a person will not regret it.

Salami Idris, who spoke on emotional intelligence, as it pertains to the book, said that emotional intelligence is critical for company secretaries and everyone else.

“I’m glad that she dedicated a chapter in this book to emotional intelligence. Emotional intelligence is the capacity of everyone to understand and regulate their emotions and to build relationships with people.

“As we continue to engage people, whether personally or professionally, there are people who will do things to you, and colloquially, I describe it as they will press your ‘mumu’ button, which is why emotional intelligence is important,” he said.

Idris emphasised that the capacity to control one’s emotions does not mean one will not feel angry, but that in the face of the anger, such a person would not give in to provocations.

“Emotional intelligence is remembering that there’s rent to be paid, and that you have a family at home, that your career is many years ahead of you, and that you don’t want a temporary act to stop your promising career,” he noted.

Babafemi Badejo, a professor of Political Science and International Relations, described the book as significant and as one that propels deeper thoughts about life.

“The company secretary is like a referee in a football match who keeps everything running, but is hardly recognised.

“The UN secretary is also like a referee playing a significant role, so is the company secretary in corporate governance,” he stressed.

Badejo noted that the company secretary in the contemporary era goes beyond note-taking.