The Institute of Directors (IoD), has appealed to the National Assembly (NASS) to pass a Bill for an Act to establish the Chartered Institute of Directors of Nigeria, to serve as a regulatory body for persons serving as directors in both public and private sectors.

IoD also called on the Federal Government to support the institute in ensuring economic development and engendering social stability across the country.

President and Chairman, Governing Council, IoD, Dr. Ije Jidenma, made the call in Abuja, when she led the institute on a visit to the Minister of Industry, Trade, and Investment, Adeniyi Adebayo.

Jidenma noted that IoD Centre for Corporate Governance (IoDCCG), which was founded in 2006 is committed to improving and promoting good corporate governance in Nigeria through advocacy, research and high-quality training for board members and senior management in the public and private sectors of Nigeria economy.

She called on the minister to approve all the 17 parastatals and agencies under his ministry’s supervision to join the IoD Centre for Corporate Governance.

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“The Bill is proposed to make the Nigerian Institute of Directors a Chartered Institute to acquire all the recognitions, benefits and technical support needed to make it effective in the provision of capacity development services for directors in the private and public sectors in Nigeria and the rest of the world.

“Let me reiterate our appreciation of your Ministry’s support for the Charter Bill of the Institute, which was brought to the attention of the Ministry, by the Presidency, in 2019.

“The Bill was not signed into law at that time by President, due to some challenging clauses, which were pointed out by the Corporate Affairs Commission.”

“I am, however, happy to inform you that these clauses have been straightened out with the CAC and the National Assembly has again passed our Bill for transmission to the President for assent.

“We therefore again solicit your support for the Bill so that the IoD Nigeria can eventually become a Chartered Body. With this, the much-needed professionalisation of Directorship in our country will gain full force.

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“Again, IoD centre for corporate governance plans to organised a national corporate governance in July with the focus of the summit to create an unprecedented awareness towards creating a sustainable basis for the nation’s economy.”

While receiving the team, the minister assured the institute of his support to enable them to build a standard to boost the national economic investment in Nigeria.

Adebayo said: “We have very good collaborations, and we have been working together in a good manner. All these issues before us will be looked at one by one. I appreciate you for coming and assure you that all issues will be addressed as we will continue with good relationships for the development of Nigeria.”