FRC, SEC Champion Ethical Corporate Governance as SCGN Marks 20 Years of Integrity and Leadership
As Nigeria continues to navigate waves of technological disruption and economic uncertainty, the Financial Reporting Council of Nigeria (FRC) and the Securities and Exchange Commission (SEC) have renewed their call for stronger ethical governance in corporate boardrooms. This appeal was made at the 20th Anniversary Corporate Governance Conference of the Society for Corporate Governance Nigeria (SCGN), themed “Strengthening Ethical Governance in a Disrupted World: Reflection on Governance’s Journey for a Sustainable Future.” The event, held on Thursday, brought together regulators, industry leaders, and governance experts to discuss the future of ethical leadership in Nigeria’s business landscape.
Representing the FRC’s Executive Secretary and CEO, Titus Osawe, the Coordinating Director of Corporate Governance and Inspections highlighted key ethical threats confronting modern organisations — from knowledge gaps and greenwashing to AI disruptions and data manipulation. Osawe emphasized that true corporate resilience depends on transparency, integrity, and strong ethical leadership. “Strengthening ethical governance is a collective responsibility,” he noted. “We must intentionally drive ethics and integrity to build a more sustainable and accountable future for our nation.”
Echoing similar sentiments, the Director-General of the SEC, Dr. Emomotimi Agama, represented by John Briggs, underlined the growing importance of sustainability and transparency in today’s global economy. He pointed out that climate change, social inequality, and technological evolution demand that governance structures evolve beyond compliance. “For emerging economies like Nigeria, good corporate governance is not optional,” Agama said. “It is the foundation for economic growth, investor confidence, and responsible business practices.” He commended SCGN for two decades of advancing governance standards through advocacy, capacity building, and research.
Board Chair of Guinness Nigeria Plc, Dr. Omobola Johnson, delivered the keynote address, stressing that diversity is key to ethical decision-making. According to her, inclusive boards that represent multiple demographics and experiences make fairer and more ethical decisions. “Integrity and ethical governance go hand in hand,” she said. “They are not mere top-down directives but values that must be lived and reflected across all levels of leadership.” Her message resonated with the conference’s core theme — that ethical leadership must evolve to meet the complexities of a changing world.
The President of SCGN, Muhammed Ahmad, and founding director Professor Pat Utomi both reiterated the need to anchor governance in values, not just regulations. Ahmad warned that in an AI-driven and disruptive era, ethical behaviour must remain at the heart of leadership. Utomi added a philosophical layer, urging business leaders to develop conscience and moral clarity in decision-making. The conference concluded with the launch of three publications — Corporate Governance and Sustainability Reporting in Nigeria, Governance in Motion: 20 Years of Corporate Governance Influence and Impact, and the 28th Journal of Corporate Governance — underscoring SCGN’s enduring role in shaping Nigeria’s corporate conscience.
source: Punch