From John Silas, Lagos
Leadership forum, the Society for Corporate Governance Nigeria (SCGN), has reiterated the need for stronger ethical leadership and institutionalised governance reforms across Nigeria’s public and private sectors.
Speaking at the 20th Corporate Governance Conference in Lagos, industry leaders, policymakers and governance experts emphasised the urgency of embedding ethics, transparency and accountability in organisational culture amid Nigeria’s rapidly evolving business landscape.
In her keynote address on the theme, “Strengthening Ethical Governance in a Disrupted World: Reflection of Governance Journey for a Sustainable Future,” former Minister of Communication and Technology, Dr. Omobola Johnson, highlighted the magnitude of global disruptions currently redefining governance and leadership.
She listed geopolitical conflicts, economic volatility, climate change and rapid technological advancements, including artificial intelligence (AI), as forces reshaping how institutions operate.
Johnson explained that automation and outsourcing were already altering workforce structures and organisational trust, while Nigeria’s ongoing migration trend has depleted skilled talent, weakened corporate resilience and reduced productivity.
Calling for renewed commitment to responsible leadership and value-driven decision-making, she further noted that the combined effects of subsidy removal, naira devaluation and governance lapses have strained Nigeria’s ethical fabric.
According to her, “the future of governance will depend on how well institutions balance technology adoption with ethics and human-centered leadership.”
On his part, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, emphasised the urgency of adopting and enforcing governance codes to monitor risks and promote transparency, particularly in the public sector.
Oyedele, who spoke during the panel session, advocated the institutionalisation of regular board evaluations and closer alignment with global governance standards, identifying gaps in fiscal administration such as outdated withholding tax systems.
Stressing the importance of tax literacy, he noted that “tax knowledge in Nigeria is near zero.” Therefore, he called for increased public education to improve compliance and strengthen trust between citizens and government.
Also, the Director-General of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, called for urgent corporate market reforms to enhance Nigeria’s governance stability and competitiveness. Agama, who was represented by the SEC Lagos Zonal Head, John Bricks, described corporate governance as “a vital instrument for stimulating economic growth, attracting investment, and improving accountability.”
He commended the SCGN’s decades of advocacy, noting that its initiatives have advanced Environmental, Social and Governance (ESG) adoption and strengthened investor confidence. He added that “embedding ESG principles across corporate operations will improve transparency and position Nigerian firms for global relevance.”
Meanwhile, the Executive Secretary and Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN), Dr. Rabiu Olowo, reaffirmed the council’s commitment to enforcing global reporting and sustainability standards.
He disclosed that new frameworks for SMEs and public sector governance codes are currently at the exposure stage and will further institutionalise accountability across sectors.
Olowo further warned that AI disruptions, cyber threats and data manipulation pose emerging risks to transparency, emphasising that the FRCN has resolved to uphold ethics and impose sanctions where necessary.
