IoD Nigeria gets charter status after 40 years

The Institute of Directors (IoD) Nigeria, a corporate governance institute, has got a charter status after 40 years in existence.

The institute announced in a statement on Monday that President Muhammadu Buhari, who left office today, assented to its charter bill, which was earlier passed by the National Assembly.

“The bill was signed into law on Friday. The institute would now be known and referred to as Chartered Institute of Directors Nigeria,” it said.

Ije Jidenma, president and chairman of the governing council of IoD Nigeria, said the law has confirmed the leading status of the institute as the apex body upholding sound corporate governance practices and ethical standards in the country.

“And by this singular act, the institute has assumed a charter status, conferring on it the responsibility to organise and deliver director development training and corporate governance practices in Nigeria,” she said.

IoD awaits Buhari’s signature to become chartered

According to Jidenma, the institute is indeed grateful to both the immediate past National Assembly and Buhari for “painstakingly following through the process that has brought this to fruition”.

“This has been a long journey and we are excited that it has finally come as a befitting 40th anniversary gift to the Institute.”

She commended the institute’s past and present leaders for their contributions to the realisation of the charter status.

“They have worked tirelessly to promote the principles of good corporate governance and have helped to establish the Institute as a respected and influential organisation in Nigeria and beyond,” she said.

She said the institute would remain committed to strengthening director capacity and contributing their quota to the growth and development of the Nigerian economy.