The Society for Corporate Governance Nigeria (SCGN) celebrated a remarkable milestone on October 9, 2025, as it hosted its 20th Anniversary Corporate Governance Conference in Lagos. Themed “Strengthening Ethical Governance in a Disrupted World: Reflection on Governance’s Journey for a Sustainable Future,” the event brought together regulators, board directors, and governance professionals to reflect on two decades of progress and to shape the path forward.

For twenty years, SCGN has stood at the centre of Nigeria’s corporate conscience, advancing integrity, transparency, and accountability as essential values in leadership. The anniversary conference was not only a moment of celebration, but it also offered an opportunity to examine how governance has evolved in Nigeria and the importance of ethical leadership in helping institutions through uncertain times.

The day began as distinguished speakers, public officials, and business leaders gathered to discuss the role of ethics in building resilient institutions. The conversations throughout the day reaffirmed the Society’s founding conviction that sound governance is the truest expression of responsible leadership.

A Milestone in Governance Evolution

In her welcome address, Dr. Omotola Bamigbaiye Elatuyi, Chief Operating Officer of SCGN, representing Chief Executive Officer Chioma Mordi, described the 20th anniversary as a defining moment in Nigeria’s corporate governance journey. She noted that the conference theme captured the essence of this period, one that demands renewed commitment to integrity and accountability in both public and private institutions.

The President of SCGN, Muhammed K. Ahmad, delivered a thoughtful presidential address that set the tone for the day’s discussions. He reminded participants that ethics is the living heart of governance. “Ethics is not about compliance or ticking boxes,” he said. “It is about living and acting according to the highest standards.” Ahmad urged leaders to reflect on how ethical values can remain at the centre of every decision. “Governance,” he added, “is about guiding organisations to make the right choices, not taking shortcuts.” His words served as both a reflection on SCGN’s past two decades and a call to shape the future with renewed conviction.

Reflecting on Governance Through the Lens of Disruption

The keynote address by Dr. Omobola Johnson, Board Chair of Guinness Nigeria Plc, provided a clear and practical perspective on the realities of governance in a world shaped by continuous disruption. She examined how the combined effects of global health crises, artificial intelligence, geopolitical tensions, and climate change have transformed the expectations of leadership.

Bringing the discussion closer to home, she identified Nigeria’s own economic and social pressures, including inflation, the removal of fuel subsidy, and the migration of skilled professionals, as challenges that call for thoughtful governance and ethical resolve. Dr. Johnson urged boards to go beyond compliance and to cultivate trust, empathy, and alignment between words and actions.

She emphasised that diversity is not a token of progress but a necessity for effective decision-making. “In a world without a rule book,” she said, “no single group has a monopoly on knowledge. Diverse boards make better decisions.” Her message was clear: ethics and inclusion are shared responsibilities that must guide how leaders build and sustain trust.

Regulators Call for Shared Responsibility

It is worth noting that one of the defining strengths of the anniversary conference was the strong presence of Nigeria’s key regulatory institutions, each supporting the belief that ethical governance is a shared responsibility.

For example, the National Pension Commission (PENCOM), represented by Sani Muhammad, stressed its collaboration with SCGN and announced new guidelines designed to strengthen accountability and transparency within the pension industry.

The Group Managing Director of the Nigerian Exchange Group, Temi Popoola, joined virtually to commend SCGN for two decades of impact, describing the Society as a cornerstone in the development of Nigeria’s financial markets. He reminded participants that true governance must allow profitability and purpose to coexist harmoniously.

From the Securities and Exchange Commission (SEC), John Briggs, Head of the Lagos Zonal Office, highlighted the essential role of governance in addressing challenges such as climate change, social inequality, and digital transformation. He praised SCGN for its enduring leadership, describing the Society as “a valuable benchmark for boards, regulators, and investors.”

The Financial Reporting Council (FRC), represented by Titus Osawe, spoke about the growing complexity of governance in a rapidly changing digital environment. He pointed to the dangers of greenwashing, data manipulation, and weak digital ethics as new threats to integrity. “Strengthening ethical governance is a collective responsibility,” he said, urging greater institutional collaboration.

The Nigerian Communications Commission (NCC), represented by Pankan Eze, commended SCGN for setting enduring standards that have continued to guide the evolution of corporate practice in Nigeria.

Voices from the Panel: Ethics, Competence, and Transparency

The high-level panel discussion, moderated by Mr. Adedayo Amzat, Group Managing Director of Zedcrest Group, offered insights from leaders across finance, policy, and governance.

Mrs. Suzanne Iroche, Chairperson of Coronation Life Insurance, shared lessons from the era of banking consolidation, stating the importance of transparency, due diligence, and proactive engagement with regulators.

Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, delivered a memorable message on the link between ethics and professional competence. “If you are incompetent in your role, you are unethical,” he said, urging leaders to treat competence as a moral obligation. He cautioned against the culture of selective truthfulness, observing that “we have learned to bend the truth without telling a lie.”

Mrs. Yeside Kazeem, Director at the National Credit Guarantee Company, spoke about the critical importance of accurate data and prudent financial management in the insurance sector, reminding participants that behind every governance failure are real lives affected by those decisions.

Offering a continental perspective, Mrs. Kim Andersen, Chief Executive of LeadRight Consultant in South Africa, acknowledged the progress Nigeria has made but noted that transparency remains a significant gap compared to international standards. “Africa is rising,” she said, “but for Nigeria to lead, ethics and transparency must be non-negotiable.”

Honouring a Legacy of Integrity

A moving moment came when Dr. Fabian Ajogwu, one of the founders of SCGN, announced the passing of Dr. Christopher Kolade, the Society’s first President and a revered figure in Nigeria’s corporate and ethical history. In his tribute, Dr. Ajogwu described him as a man who “nurtured the seeds of integrity and service.” A moment of silence was observed in honour of a life that defined excellence in leadership and moral character.

Celebrating 20 Years of Impact and Scholarship

The conference also marked the unveiling of three major publications that document SCGN’s two-decade journey.

The first, Governance in Motion: 20 Years of Corporate Governance Influence and Impact, is a commemorative book featuring reflections from national leaders such as Jim Ovia, Tony Elumelu, Atedo Peterside, and Professor Mervyn King.

The second, Corporate Governance and Sustainability Reporting in Nigeria (2025), presents groundbreaking research on the governance and sustainability practices of Nigeria’s thirty most capitalised companies.

The third, The Journal of Corporate Governance (Volume 18), continues SCGN’s tradition of scholarship with research on ethical leadership, fintech oversight, and sustainability practices.

Together, these works reflect the Society’s ongoing commitment to advancing thought leadership, research, and documentation of governance excellence.

Celebrating Two Decades of Impact

Beyond the conference, SCGN also hosted its 20th Anniversary Gala and Corporate Governance Awards in Lagos. The evening celebrated institutions and individuals who have advanced transparency, accountability, and ethical leadership across sectors. Seplat Energy Plc, Stanbic IBTC Holdings Plc, and Stanbic IBTC Bank received awards for excellence in governance, while Gbeminiyi Shoda, Adeolu Adewumi-Zer, and Ayokunle Ayoko were recognised for their personal contributions to responsible leadership.

In his goodwill message, Founding President Dr. Fabian Ajogwu described SCGN Fellows as “walking classrooms of what it means to be ethical, responsible leaders,” urging a renewed commitment to integrity. The Society also launched a Pro Bono Governance Advisory Initiative to support one SME and one non-profit organisation with free board advisory services.

Looking Ahead with Purpose

The 20th Anniversary Corporate Governance Conference was more than a commemoration. It was a moment to strengthen its purpose and responsibility. Every conversation returned to the same truth: ethical governance is the foundation upon which sustainable progress is built. For two decades, the Society for Corporate Governance Nigeria has guided organisations toward integrity, accountability, and responsible leadership. As it looks ahead, its mission remains clear: to strengthen the ethical foundation of governance and to nurture a culture where integrity is not an aspiration but a standard.

Get the Publications: Purchase Corporate Governance and Sustainability Reporting in Nigeria (2025) and The Journal of Corporate Governance (Volume 18) to access groundbreaking research on ethical leadership, sustainability practices, and governance excellence.

Become a Member: Join Nigeria’s largest governance community and gain access to exclusive resources, networking opportunities, and professional development programs. Membership benefits include 20% discounts on paid programs, free access to the Annual Corporate Governance Conference, complimentary resource materials, and connection with governance professionals across all industries.

Visit corpgovnigeria.org to purchase publications, explore membership options, and engage with upcoming events.