In a grand and momentous ceremony held last week in Lagos, Nigeria, the Chartered Institute of Directors (CIoD) officially inducted Otunba Adetunji Oyebanji as its 19th President. The event, steeped in tradition and significance, marked a pivotal moment for the institute, an organization widely regarded as a cornerstone of corporate governance and leadership in Nigeria. The investiture was not merely a ceremonial transition but a platform to reflect on the evolving role of leadership in shaping Nigeria’s future, as highlighted by the keynote address delivered by Professor Fabian Ajogwu, OFR, SAN, a renowned legal scholar and governance expert.
The keynote, titled “Leadership, Legacy, and the Future of Governance: Charting a New Direction,” was a clarion call for transformative leadership rooted in purpose, accountability, and ethical conviction. Ajogwu’s address resonated deeply with the audience, comprising corporate leaders, policymakers, and stakeholders from various sectors, as he outlined a roadmap for navigating Nigeria’s complex governance challenges while leaving a legacy that endures beyond individual tenures. His speech, both inspirational and pragmatic, set the tone for the institute’s agenda under Otunba Oyebanji’s leadership and underscored the critical role of the CIoD as the “conscience of corporate leadership” in Nigeria.
A Momentous Transition for CIoD Nigeria
The investiture of Otunba Adetunji Oyebanji as the 19th President of the CIoD Nigeria was a landmark event, symbolizing continuity, renewal, and a commitment to advancing the institute’s mission of fostering excellence in corporate governance. Founded in 1983, the CIoD has grown into a formidable institution, championing best practices in leadership, governance, and ethical decision-making across public and private sectors. The presidency of the institute is a prestigious role, entrusted to individuals who have demonstrated exceptional leadership and a dedication to upholding the values of integrity, transparency, and accountability.
Otunba Oyebanji, a seasoned business leader with a distinguished track record in corporate governance, was warmly received by members of the institute and attendees at the event. His appointment comes at a critical juncture for Nigeria, a nation grappling with multifaceted challenges, including economic instability, governance deficits, and the urgent need for sustainable development. As the new president, Oyebanji is expected to steer the institute toward addressing these challenges by equipping directors with the tools, knowledge, and ethical grounding necessary to lead effectively in an increasingly complex world.
The investiture ceremony, held at a prestigious venue in Lagos, was attended by a diverse array of dignitaries, including business tycoons, government officials, academics, and members of the diplomatic corps. The event was marked by a sense of optimism and a shared commitment to redefining leadership in Nigeria. In his acceptance speech, Otunba Oyebanji expressed gratitude for the trust placed in him and pledged to build on the achievements of his predecessors while charting new paths to enhance the institute’s impact. He emphasized the importance of collaboration, innovation, and ethical leadership in addressing Nigeria’s governance challenges and fostering sustainable growth.
Professor Ajogwu’s Keynote: A Vision for Transformative Leadership
The highlight of the investiture was undoubtedly Professor Fabian Ajogwu’s keynote address, which captivated the audience with its depth, clarity, and actionable insights. As a Senior Advocate of Nigeria (SAN) and a globally recognized expert in corporate governance, Ajogwu brought a wealth of experience and perspective to the discourse. His speech was both a reflection on the state of leadership in Nigeria and a forward-looking blueprint for creating a legacy of impact, integrity, and sustainability.
Ajogwu began by emphasizing that leadership is not about titles, positions, or ceremonial roles but about service rooted in purpose and accountability. “Leadership is not a crown to wear but a responsibility to bear,” he declared, setting the tone for a discourse that challenged conventional notions of authority. He argued that true leadership is measured by the enduring impact it creates—through the values instilled, the institutions strengthened, and the lives transformed.
The CIoD, according to Ajogwu, occupies a unique and pivotal position as “the conscience of corporate leadership in Nigeria.” At a time when the country faces pressing governance challenges—ranging from corruption and inefficiency to economic stagnation and social inequality—the institute has a critical role to play in shaping the direction of leadership. Ajogwu noted that Nigeria’s challenges are not insurmountable but require a collective commitment to ethical, adaptive, and inclusive governance. The CIoD, as a body of directors and corporate leaders, is uniquely positioned to drive this transformation by setting standards, fostering accountability, and advocating for policies that promote sustainable development.
The Essence of Leadership Legacy
A central theme of Ajogwu’s address was the concept of legacy—what leaders leave behind after their tenure. He posed a thought-provoking question to the audience: “Every leader must consider: what will endure after my tenure?” This question, he argued, should guide the actions and decisions of every director, policymaker, and corporate leader. Legacy, in Ajogwu’s view, is not about personal accolades or short-term achievements but about creating systems, values, and institutions that outlast individual contributions.
To illustrate this point, Ajogwu drew on the examples of global figures such as Mahatma Gandhi and Nelson Mandela, whose legacies continue to inspire generations. Gandhi’s leadership was defined by his unwavering commitment to nonviolence and justice, while Mandela’s legacy rests on his ability to unite a divided nation through forgiveness and reconciliation. These leaders, Ajogwu noted, were not defined by their titles but by the values they championed and the impact they made on their societies.
Closer to home, Ajogwu cited Nigerian reformers such as Ngozi Okonjo-Iweala, MK Ahmad, and Justice Samson Uwaifo as exemplars of purposeful leadership. Okonjo-Iweala, a globally respected economist and former Nigerian Finance Minister, has left an indelible mark through her efforts to reform Nigeria’s economic policies and champion transparency. MK Ahmad, a pioneer in Nigeria’s financial sector, contributed to the strengthening of regulatory frameworks, while Justice Uwaifo’s judicial reforms helped uphold the rule of law. These individuals, Ajogwu argued, demonstrate that leadership legacy is built through deliberate actions that prioritize the greater good over personal gain.
On the global stage, Ajogwu referenced Yvon Chouinard, the founder of Patagonia, as an example of a leader who redefined corporate success by prioritizing environmental sustainability and social responsibility. Chouinard’s decision to donate his company’s profits to environmental causes reflects a legacy of purpose-driven leadership that transcends profit motives. These examples, Ajogwu emphasized, serve as a reminder that leaders in Nigeria must strive to create legacies that align with the nation’s aspirations for progress, equity, and sustainability.
The Six Pillars of Leadership Legacy
To provide a practical framework for building a lasting legacy, Ajogwu outlined six critical aspects of leadership: vision, foundation, intentional focus, meaningful relationships, resiliency, and sustainability. Each pillar, he explained, is essential for creating a leadership legacy that endures.
Vision: Ajogwu described vision as the cornerstone of leadership. A leader’s vision must be clear, ambitious, and aligned with the needs of their organization and society. Without a compelling vision, leadership becomes directionless, unable to inspire or mobilize others.
Foundation: A strong foundation, rooted in values such as integrity, accountability, and transparency, is essential for sustainable leadership. Ajogwu emphasized that leaders must build systems and structures that can withstand challenges and outlast their tenure.
Intentional Focus: Leadership requires deliberate effort and focus. Ajogwu urged leaders to prioritize their goals, avoid distractions, and channel their energy toward meaningful outcomes.
Meaningful Relationships: No leader succeeds in isolation. Building strong, trust-based relationships with stakeholders—employees, partners, communities, and policymakers—is critical for achieving lasting impact.
Resiliency: In a world of constant change and uncertainty, leaders must be resilient, adaptable, and capable of navigating challenges without compromising their values or vision.
Sustainability: Ajogwu stressed that true leadership is about creating systems that endure. Sustainability, in this context, encompasses not only environmental considerations but also the long-term viability of institutions, policies, and communities.
To complement this framework, Ajogwu introduced Donald Krause’s SPARKLE model, which outlines seven indispensable leadership traits: self-discipline, purpose, accomplishment, responsibility, knowledge, leadership, and example. These traits, he argued, are non-negotiable for leaders who aspire to create meaningful and lasting change. Self-discipline ensures that leaders remain focused and consistent, while purpose provides the motivation to pursue transformative goals. Accomplishment reflects a leader’s ability to deliver results, and responsibility underscores the need for accountability. Knowledge equips leaders to make informed decisions, while leadership and example inspire others to follow suit.
Navigating New Realities: Governance in a Changing World
Ajogwu’s address also highlighted the need for Nigeria’s governance systems to adapt to emerging global and local realities. He identified several key trends shaping the future of leadership and governance, including climate change, technological disruption, and global competition. These challenges, he argued, require leaders to adopt innovative approaches and embrace new paradigms of governance.
One such paradigm is the integration of Environmental, Social, and Governance (ESG) principles into corporate and public sector leadership. ESG, Ajogwu explained, is not a mere buzzword but a framework for ensuring that organizations prioritize sustainability, social responsibility, and ethical governance. By adopting ESG principles, leaders can address pressing issues such as climate change, inequality, and corporate accountability while building trust with stakeholders.
Digital transformation was another key area of focus. Ajogwu noted that technology is reshaping every aspect of governance, from decision-making processes to stakeholder engagement. Leaders must embrace digital tools and data-driven approaches to enhance efficiency, transparency, and inclusivity. However, he cautioned that technology must be wielded responsibly, with safeguards to protect privacy, security, and ethical standards.
Hybrid governance models, which blend traditional and modern approaches, were also highlighted as a critical frontier. Ajogwu argued that Nigeria’s governance systems must evolve to incorporate the best practices of both local and global models. This includes balancing centralized authority with decentralized decision-making, fostering collaboration across sectors, and ensuring that governance structures are inclusive and representative.
Ethical leadership, Ajogwu emphasized, is the glue that holds these emerging paradigms together. Without a commitment to ethics, even the most innovative governance models will falter. He called on Nigerian leaders to lead by example, demonstrating integrity, fairness, and accountability in all their actions.
The Role of Followership in Governance
While much of Ajogwu’s address focused on leadership, he also underscored the importance of followership in shaping Nigeria’s future. Quoting the late Nigerian literary icon Chinua Achebe, who famously stated that Nigeria’s problem is “simply and squarely a failure of leadership,” Ajogwu added a nuanced perspective: leadership failures are often compounded by the inaction or complicity of followers. Citizens, he argued, have a responsibility to demand accountability, support transformative leaders, and actively participate in the governance process.
Ajogwu’s call for active followership resonated deeply in a country where public apathy and distrust of institutions have often hindered progress. He urged Nigerians to move beyond passive criticism and take ownership of their role in nation-building. This includes holding leaders accountable, advocating for reforms, and supporting policies that promote equity and development.
Charting a Way Forward: Four Anchors for Progress
To translate his vision into actionable steps, Ajogwu proposed four anchors for advancing leadership and governance in Nigeria:
Recommitment to Values-Based Leadership: Leaders must prioritize ethics, integrity, and transparency in all their actions. This requires a cultural shift toward accountability and a rejection of practices that undermine trust.
Strengthening Institutions: Strong institutions are the backbone of effective governance. Ajogwu called for reforms to enhance the independence, efficiency, and credibility of Nigeria’s institutions, from regulatory bodies to the judiciary.
Investment in the Next Generation: The future of Nigeria depends on its youth. Ajogwu urged leaders to mentor and empower young people, equipping them with the skills, values, and opportunities to lead effectively.
Partnerships Across Sectors and Borders: Collaboration is key to addressing Nigeria’s complex challenges. Ajogwu advocated for partnerships between the public and private sectors, as well as international cooperation, to drive innovation and development.
These anchors, Ajogwu argued, provide a roadmap for creating a governance system that is ethical, inclusive, and sustainable. They also reflect the CIoD’s broader mission to foster leadership that serves the greater good.
A Call to Action for Nigeria’s Future
In his concluding remarks, Ajogwu issued a powerful call to action, urging both leaders and citizens to take responsibility for Nigeria’s future. “The responsibility is clear: our problems are ours to solve. No one but us owes our societies a future,” he declared. This statement encapsulated the urgency and agency required to address Nigeria’s challenges and build a nation that future generations can be proud of.
Ajogwu’s vision for Nigeria is one of hope, but also one of accountability. He challenged leaders to embrace integrity, build legacies, and forge governance systems that prioritize the well-being of all Nigerians. At the same time, he reminded citizens of their role in supporting and demanding transformative leadership. The path forward, he argued, requires a collective commitment to ethical, adaptive, and sustainable governance.
Otunba Oyebanji’s Mandate: A New Era for CIoD Nigeria
As the newly invested president, Otunba Adetunji Oyebanji steps into a role that carries immense responsibility. Under his leadership, the CIoD is expected to build on its legacy as a champion of corporate governance while addressing the pressing challenges outlined by Ajogwu. Oyebanji’s presidency comes at a time when Nigeria needs strong, ethical leadership to navigate economic uncertainties, social tensions, and global disruptions.
In his remarks, Oyebanji reaffirmed his commitment to advancing the institute’s mission. He outlined key priorities for his tenure, including strengthening corporate governance frameworks, promoting ESG principles, and fostering collaboration between the public and private sectors. He also emphasized the importance of capacity building, pledging to enhance training and development programs for directors to equip them for the challenges of the modern business landscape.
Oyebanji’s leadership is expected to usher in a new era of innovation and impact for the CIoD. By leveraging the institute’s platform, he has the opportunity to drive reforms, advocate for policies that promote sustainable development, and inspire a new generation of leaders to rise to the occasion.
The Broader Context: Nigeria’s Governance Challenges
The investiture of Otunba Oyebanji and the insights shared by Professor Ajogwu must be understood within the broader context of Nigeria’s governance challenges. As Africa’s most populous nation and largest economy, Nigeria holds immense potential but faces significant hurdles. Corruption, weak institutions, and inadequate infrastructure have long hindered the country’s progress, while issues such as youth unemployment, climate change, and technological disruption present new challenges.
The CIoD, as an institution dedicated to corporate governance, has a critical role to play in addressing these issues. By promoting ethical leadership, fostering accountability, and advocating for reforms, the institute can help bridge the gap between Nigeria’s potential and its current realities. The investiture of Otunba Oyebanji marks a renewed commitment to this mission, with the institute poised to lead the charge in transforming Nigeria’s governance landscape.
Conclusion: A Vision for a Better Nigeria
The investiture of Otunba Adetunji Oyebanji as the 19th President of the Chartered Institute of Directors Nigeria was more than a ceremonial event; it was a moment of reflection, inspiration, and renewed commitment to the principles of ethical leadership and good governance. Professor Fabian Ajogwu’s keynote address provided a powerful framework for understanding the role of leadership in shaping Nigeria’s future, emphasizing the importance of legacy, accountability, and adaptability.
As Nigeria navigates a complex and rapidly changing world, the CIoD, under Oyebanji’s leadership, has an opportunity to drive meaningful change. By embracing the principles outlined by Ajogwu—vision, foundation, intentional focus, meaningful relationships, resiliency, and sustainability—the institute can inspire a new generation of leaders to build a Nigeria that is equitable, prosperous, and sustainable.
The event in Lagos was a reminder that leadership is not just about the present but about the future. It is about the values we instill, the institutions we strengthen, and the lives we transform. As Otunba Oyebanji takes the helm of the CIoD, the institute stands ready to lead by example, charting a new direction for corporate governance and leadership in Nigeria.
