By Rukayat Moisemhe and Nora Ibeabuchi
The Chartered Institute of Directors Nigeria (CIoD) has unveiled the Chartered Director Certification Programme (CDCP) to boost the professional competencies of directors and enhance corporate governance standards in the country.
President, CIoD, Mr Adetunji Oyebanji, made this known at a news conference on Tuesday in Lagos.
The event had the theme: “Advancing Board Excellence and Corporate Governance Through the Chartered Director Certification”.
According to Oyebanji, the CDCP comes after the institute was granted chartered status under the Chartered Institute of Directors Nigeria (Establishment) Act, 2023.
This development, he stated, provided a structured pathway for developing and validating professional directorship.
The CIoD president noted that the quality of leadership in boardrooms remained critical to sustainable institutional and national development, given the impact of board decisions on organisations and the wider economy.
Oyebanji said directors were expected to provide strategic direction, oversee management, safeguard stakeholder interests and ensure accountability, resilience and sustainable value creation.
“Experience remains important, but experience alone is no longer sufficient.
“Directors require a structured pathway through which their knowledge can be developed, their competence validated and their professional standards continually strengthened,” he said.
Oyebanji said the programme would combine structured learning, practical boardroom experience, examinations and experience-based assessment, delivered through a flexible virtual learning model.
He revealed that the certification pathway comprised three stages, beginning with the certificate in company directorship, followed by the advanced certificate in company directorship and the chartered directorship stage.
He explained that the first stage would focus on foundational competencies in company direction, corporate governance, leadership and board effectiveness.
Oyebanji said the second stage would develop advanced capabilities in strategy, finance, risk governance, sustainability, digital transformation and other contemporary issues affecting boards.
“The final stage will involve experience-based assessment and a professional interview through which candidates will demonstrate their ability to apply knowledge, experience and judgement in practical boardroom situations,” he said.
Oyebanji said successful candidates would be awarded the chartered director designation and entitled to use the professional suffix, “Ch.Dir”, subject to the institute’s professional rules and standards.
He said the designation would signify demonstrated competence, professional credibility, ethical leadership and commitment to high standards of directorship and corporate governance.
“The designation will represent much more than an additional qualification.
“It will be a mark of demonstrated competence, professional credibility, ethical leadership and commitment to the highest standards of directorship and corporate governance.
“It has been designed to elevate the standards of professional directorship, strengthen board effectiveness and support the continuing advancement of corporate governance across Nigeria’s private, public and not-for-profit sectors,” he said.
First Vice President, CIoD, Mrs Amina Oyagbola, described the initiative as timely, given the challenges confronting boards, including economic uncertainty, technological disruption, cybersecurity threats, sustainability concerns and evolving regulations.
Oyagbola said directors needed to be equipped to ask appropriate questions, challenge assumptions constructively and make decisions capable of protecting institutional value and public trust.
She said the success of the programme would ultimately depend on the quality of its implementation, integrity of its assessments and professional conduct of those who earned the designation.
Oyagbola urged qualified directors and senior executives across the private, public and non-profit sectors to embrace the initiative.
She also called on organisations to incorporate chartered director certification into their board development, succession planning and director-selection frameworks.
Mrs Foluso Olaniyan, Chairman, Director Development and Certification Committee, said while the chartered directorship was an optional aspirational qualification and membership status, its value proposition were numerous.
She listed them to include advanced knowledge and access to professional resources, career development and leadership growth, strengthened boardroom and governance capability, opportunity to practice as a consultant among others.
She said registration for the programme would open on Wednesday, while the first programme cycle will begin on Sept. 22.
Director-General of CIoD, Dr Taiwo Nolas-Alausa, said the standard of directorship was not an internal matter for boards alone, as it affected employees, investors, customers, communities and public institutions.
Nolas-Alausa said the attainment of chartered status by the institute had expanded its opportunity and obligation to define, develop, assess and recognise professional standards in directorship.
He said the programme was designed to equip directors and senior executives to operate effectively amid technological change, complex risks, heightened stakeholder expectations and increased public scrutiny.
According to him, the programme covers governance, strategy, financial stewardship, risk and internal control, board effectiveness, sustainability, digital transformation and personal leadership.
He said the growing importance of artificial intelligence, data governance, cybersecurity and sustainability risk meant directors could no longer completely delegate such issues to specialists.
“The board must know enough to frame the right questions, understand the trade-offs and exercise informed oversight,” he said.
Nolas-Alausa said the CIoD Academy would deliver the programme through structured learning and assessment, supported by experienced practitioners and a flexible blended format.
Oyebanji said the certification was designed with clear eligibility criteria, rigorous learning, fair assessment, strict adherence to the institute’s code of conduct, and mandatory continuous professional development. (NAN)
Edited by Folasade Adeniran