DeRemi Atanda, the managing director of RemitaPayment Services Limited said that the Institute Of Directors should ensure CIoD membership requirement in the public sector to promote corporate governance in the the sector.
“The institute should ensure CIOD membership as a minimum requirement in the public sector, ” he said.
He mentioned this at the Institute of Directors Annual Fellows Investiture, held on Thursday, themed: ‘Leveraging Technology for Improved Governance in the 21st Century.’
He mentioned that corporate governance protects stakeholders including employees, investors, customers, and regulators, Ensures sustainability and Boosts investor confidence.
Atanda spoke on some of the trends in corporate governance in 2023, some of which are the move to online and embracing technology & digital, transformation, greater focus on environment, social & governance by businesses, Board diversity, equity & inclusion, Increased stakeholder engagement, Demand for board effectiveness.
On technology, he emphasized the use of social media in governance by engaging with customers on various platforms.
“ Listen to feedback and address company-level concerns on your social media, also promote transparency by sharing relevant information about your organisation, and with social media monitor your company’s reputation and address existential risks,” he said.
He urged directors to ensure transparency to stakeholders, embrace technology for effective governance, and establish sustainability in structure and operations to remain relevant in the 21st century.
Tijani Borodo, president of IOD said technology has revolutionised the way we live and do business and therefore can be used to improve governance.
“The transformative power of technology in governance is no exception. The power of technology, if harnessed , can enhance governance and improve transparency, accountability, stakeholder engagement, administrative efficiency, and automate processes.”
While I felicitate with our new fellows today, I urge all our members, both old and new, to continue to uphold good Corporate Governance principles and be guided by the Ethics Code of the Institute at all levels in their workplaces and their business a
On the newly conferred fellows he urged them to uphold the good ethics of the institute affairs.