Twenty years ago, when the Society for Corporate Governance (SCGN) began its mission to elevate corporate governance standards in Nigeria, board evaluations were largely viewed as administrative requirements rather than strategic tools for transformation. As we celebrate our anniversary, we want to reflect on how our Board Advisory Unit has fundamentally changed this narrative. SCGN turned what was once a performative compliance exercise into a powerful and important catalyst for boardroom excellence across Nigeria.
The story of our Board Advisory Unit goes beyond the technical work we do. It is about the relationships we have built, the trust we have earned, and the tangible changes we have helped bring to some of Nigeria’s most influential boardrooms. Across banks, insurance companies, real estate firms, and infrastructure giants, our work has touched virtually every sector of the Nigerian economy.
The Early Vision: Beyond Compliance
When we started, board evaluations in Nigeria were a straightforward affair. Before our intervention, companies would distribute basic questionnaires, collect responses, and file reports to satisfy regulatory requirements. However, our founders had a different vision. They viewed board evaluation not as an end in itself, but as a starting point. They saw the process as meaningful conversations about how boards could become more effective, strategic, and impactful.
This vision became the bedrock of our early methodology. While others were content with standard surveys, we began incorporating document reviews and structured feedback sessions. We understood that every board was unique, shaped by its industry, culture, and challenges. Notably, as one of our senior advisors puts it, “We do not treat evaluation as a checklist exercise; we approach it as a tool for transformation.” This philosophy became the foundation upon which we built everything else.
Fast forward to today, our approach now integrates quantitative data, in-depth interviews, comprehensive document reviews, benchmarking, data analytics and feedback sessions. We conduct one-on-one conversations with board members and key management, review governance documents against best practices, and provide context-specific recommendations that boards can implement. This evolution of methodology over two decades has strengthened the impact of our work and set the stage for a broader suite of governance services.
Building on this refined approach, our services have expanded beyond evaluation to include critical governance functions such as board recruitment, helping organisations identify and appoint directors who fill competency gaps and promote diversity, and board policy development and review to ensure governance frameworks keep pace with regulatory and market developments. We also provide expert advice on board remuneration and compensation to align incentives with performance, as well as conduct corporate governance audits to assess compliance, risk management, and governance effectiveness, among other things.
The Numbers Tell a Story
In the past two years alone, our Board Advisory Unit has supported several distinct boards across Nigeria’s most critical sectors. We have worked extensively with major commercial banks, insurance, pension, and manufacturing companies, etc., helping them strengthen their governance frameworks. Our partnerships with regulatory institutions within and outside Nigeria as well as professional/governance bodies demonstrate the depth of trust these institutions place in our expertise.
We have also supported various investment firms and development and infrastructure institutions, showing how governance principles apply across different organisational types. The real estate and hospitality sectors have also benefited from our evaluations to enhance their board effectiveness.
Beyond evaluations, our recruitment advisory has enabled many organisations to identify and appoint qualified directors to strengthen board composition. Our policy development and remuneration advisory work has helped companies establish robust governance frameworks and compensation structures aligned with best practices. Governance audits have also uncovered opportunities for improvement across various organisations
We mention these partnerships not merely to highlight achievements, but to underscore the trust and impact we have fostered over two decades.
Real Change, Real Impact
Many boards have used our advisory services to enhance their composition, improving the diversity of skills, experience, and independence among their directors. We have seen several organisations recruit new directors specifically to close competency gaps identified through the exercise.
In addition, committee restructuring has been another area of significant impact. Based on our recommendations, boards have reconstituted their committees with clearer mandates, improved reporting lines, and better alignment with strategic priorities. Our evaluations have also helped clarify the sometimes blurry lines between board and management responsibilities.
One of our engagements perfectly illustrates the value of our approach. During a board evaluation, we identified a critical gap in the recruitment of Independent Directors, which was impacting the board’s objectivity and governance effectiveness. The client not only acknowledged our findings but subsequently engaged us to support the recruitment of qualified Independent Directors. This seamless transition from evaluation to implementation shows how our advisory work creates lasting value and drives real institutional improvement.
Shaping the National Conversation
Of course, we can humbly and confidently say that our influence extends beyond individual boardrooms to the national governance environment. We supported the Nigerian Communications Commission (NCC) in developing the Telecommunications Industry Code of Corporate Governance, bringing our practical experience to help define realistic expectations for board structure and accountability in the telecoms sector.
Our insights also contributed to shaping the Nigerian Code of Corporate Governance (2018), where we drew on years of evaluation experience to ensure the Code addressed real governance challenges faced by boards rather than theoretical ideals. More recently, we have been involved in establishing the Centre for Public Sector Governance (CPSG), extending our expertise to help improve governance structures within government institutions.
Witnessing Nigeria’s Governance Evolution
Through our two decades of work, we have had a front-row seat to observe how board practices and expectations have evolved across Nigeria. Boards today are far more outcome-focused than they were twenty years ago. There is increased demand for performance evaluation at both board and individual director levels, with growing interest in tracking the implementation of board recommendations rather than simply making them.
We have seen a fundamental shift in how boards view their strategic role. Rather than focusing solely on oversight, modern boards expect to be actively involved in shaping and monitoring long-term strategy, participating in scenario planning, risk strategy development, and value creation initiatives. The digital transformation of governance has been particularly remarkable, with virtual meetings, digital board packs, and improved information systems enhancing decision-making capabilities.
We have also observed a clear evolution from a compliance mindset to one that embraces effectiveness, strategic value, and continuous improvement.
The Road Ahead
As we look toward the future, we aspire to become the leading reference point for board governance and performance across Africa. We plan to expand our reach beyond Nigeria while continuing to strengthen our impact at home. We are also evolving our methodology by integrating new technologies, data analytics, and global best practices to ensure our evaluations remain cutting-edge and forward-thinking.
Undoubtedly, our journey from pioneer to trusted standard depicts not just our growth, but the transformation of Nigeria’s governance environment itself. Through consistent, credible, and professional service, we have helped establish new benchmarks for board effectiveness while building lasting partnerships with organisations committed to excellence.
As we celebrate twenty years of transforming boardrooms across Nigeria, we are grateful for the trust placed in us by boards and management teams throughout the country. The work we do is ultimately about people: the directors who serve on boards, the executives who lead organisations, and the stakeholders who depend on sound governance for their livelihoods and future.
Twenty years in, we remain committed to the vision that started it all: helping Nigerian organisations achieve excellence through better governance, one board at a time.
So, twenty hearty cheers to more excellence!
Connect with SCGN’s Board Advisory Unit today to elevate your board’s effectiveness and governance impact. Visit https://corpgovnigeria.org/ to learn more