A non-executive/independent director, FBNQuest Merchant Bank, Oyinkansade Adewale, has urged directors to maintain board excellence and sound corporate governance principles amid global poly-crisis.

Mrs Adewale gave the advice at the Chartered Institute of Directors new members’ induction on Tuesday in Lagos with the theme: “Maintaining Board Excellence and Governance in Trying Times.”

A poly-crisis is a cluster of several crises and global shocks that interact and mutually reinforce one another with drastic effects.

Mrs Adewale said that global geopolitical issues, post COVID-19 recovery, supply chain disruptions, climate change, onslaught of Artificial Intelligence, naira devaluation and other economic variables were poly-crisis.

She, however, stressed that companies’ directors must learn how to navigate and succeed despite the challenges.

She stated, “This requires wise and just board leadership, directors who see the big picture, and understand how these challenges affect the company’s stakeholders and performance. A highly effective board must make significant contributions to the company’s success beyond statutory requirements and must regularly reflect its current structure and framework. The digital future is now and directors must learn to embrace technology trends and how it influences the business terrain.’’

In his remarks, President, CIoD, Tijjani Borodo, said the event’s theme resonated deeply with the challenges being faced today, particularly the profound transformations occurring on the global stage.

He said the current era of unprecedented change was marked by uncertainty, volatility, and disruptive forces that tested the very foundations of leadership and governance principles.

According to him, from economic fluctuations to technological advancements, from social upheavals to environmental crises, the challenges being confronted are multifaceted and complex.

Mr Borodo underscored the importance of upholding the highest standards of governance and excellence, even when confronted with adversity.

“In such turbulent times, the role of directors and leaders assumes even greater significance. It is during these moments of adversity that the true essence of leadership is revealed – the ability to navigate uncertainty with resilience, to make tough decisions with wisdom, and to steer our organisations toward sustainable success amidst turbulent waters.

“It reminds us that it is during times of crisis and challenges that the integrity of our institutions is put to the test, and it is our duty as directors to rise to the occasion and uphold the principles of transparency, accountability, and ethical conduct,” he said.

He urged the newly inducted 135 members to uphold the values and standards that define the profession by showing commitment to the principles of good governance and leadership excellence.

He charged them to remain steadfast in their dedication to fostering a culture of trust, integrity, and innovation within organisations.

(NAN)