CBN Deputy Gov Urges Directors to Build Resilient Institutions, Not Just Meet Rules

Philip Ikeazor, Deputy Governor of the Central Bank of Nigeria's Economic Policy, has emphasized that corporate governance should focus on building resilient institutions rather than merely meeting regulatory requirements. This was stated during the 2026 Fellows’ Night and Investiture of the Chartered Institute of Directors Nigeria (CIoD) in Lagos.

Musa Jimoh, representing Ikeazor, highlighted that the growing complexity of the economic, technological, and social environment underscores the importance of strong governance for businesses and institutions. Jimoh stressed that governance should transcend mere compliance with rules, focusing instead on how institutions are managed, decisions are made, and value is created.

Effective governance, according to Jimoh, is about creating accountable, transparent, and resilient institutions capable of delivering sustainable value to stakeholders. He stressed that this responsibility falls heavily on directors and leaders to ensure their institutions are built to endure, not just managed for immediate results.

Ikeazor further urged the new Fellows to view their induction as a significant responsibility to uphold ethical leadership, sound judgment, and professionalism within their organizations. He noted that the decisions, standards, and institutions left by leaders would form part of their leadership legacy. Ikeazor also praised the CIoD for providing valuable training and perspectives to help directors understand their responsibilities, particularly in navigating rapid changes across the economy and technology.

He assured that the new Fellows will leverage their CIoD experience to contribute to their organizations, professions, and society. Ikeazor emphasized that the Fellowship signifies a deeper commitment to promoting responsible directorship and strengthening corporate governance, urging Fellows to carry this responsibility beyond the Institute.