By Rukayat Moisemhe
Governance must evolve into a dynamic framework that adapts and leads, shifting from compliance checklists to strategic guidance, experts have said.
They spoke at the ICSAN Lagos Chapter 2025 Annual Summit held on Thursday in Lagos.
The summit had the theme: ‘Governance Redefined in a Business Environment: A Continuum or New Paradigms.’
Prof. Yinka Omoregbe, Founder of Etin Power Ltd., said governance must move from compliance culture to ethical foresight, accountability, and strategic decision-making.
She said governance had become multidimensional, covering financial accountability, environmental responsibility, digital ethics, and social impact.
Omoregbe noted modern governance must balance core values with adaptation to emerging realities.
She said governance in Nigeria had also shifted from compliance to strategic discipline, reflecting global trends.
She explained that continuity in values, such as integrity and accountability, made governance a continuum despite evolving practices.
Omoregbe urged boards to expand accountability beyond profit, integrating ESG principles and ethics into decisions.
She encouraged ICSAN to continue training governance professionals through ongoing educational programmes.
According to her, governance is both a legacy and a living practice, built on responsible use of power and constant adaptation.
She said governance remained rooted in integrity, fairness, accountability, and transparency, while embracing digital literacy, climate awareness, and stakeholder empathy.
ICSAN President, Mrs Uto Ukpanah, said the theme examined whether governance changes represented continuity or a paradigm shift.
Ukpanah said technological disruption and regulatory changes meant governance could no longer be viewed through a static lens.
She added that core principles remained constant, but their application was being reshaped by new realities.
She noted governance professionals must now strategically apply principles to enhance resilience, trust, and sustainable growth.
ICSAN Lagos Chair, Ms Efosa Ewere, urged professionals to sustain ethical leadership, blending traditional values with technology and ESG priorities.
She stressed the need to redefine governance as a pillar of accountability, transparency, and long-term development.
Ewere said governance had moved from filing policies to becoming a living and responsive tool for strategic direction.
NIMASA Director-General, Dr Dayo Mobereola, said corporate governance was evolving with digital transformation and ESG priorities.
Mobereola said governance must be transparent, technology-driven, and aligned with stakeholder expectations and regulatory changes. (NAN)
Edited by Kamal Tayo Oropo
