IOD Nigeria Holds 35th AGM, Elects Chief Chris Okunowo as 16th President

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Thursday, June 28, 2019   /  08.30PM  /  Ottoabasi Abasiekong for Proshare WebTV / Header Image Credit: IOD Nigeria

 

The Institute of Directors of Nigeria today held its 35th Annual General Meeting in Lagos, which shortly after the meeting elected Chief Chris Okunowo the previous First Vice-President as the 16th President. 

At the AGM the outgoing President Alhaji Ahmed Rufai Mohammed, F.IoD

informed fellows and members of the Institute that the IOD Nigeria Charter Bill has been passed by the National Assembly, and is now awaiting the assent of President Muhammadu Buhari for it to become law. 

He also notified the AGM that the IOD had concluded a land swap with Transcorp Hotels Limited. 

The land swap was formalized on August 28th, 2018 with the handing over of the IOD Nigeria property at 8 Templar Road, Ikoyi which is a vacant land size of 2,620 sq meters approved by the Governing Council of the Institute. 

The IOD Nigeria also on September 6th, 2018, handed over its property at 53 Glover Road, Ikoyi to Transcorp Hilton Hotels. 

The Institute has already received the approval of the Lagos State Government to construct a befitting Head Office Building, comprising 15 floors of lettable office and commercial space. 

The outgoing President also highlighted some of the strategic collaborations and partnerships under his tenure, which included government agencies and corporations like;

  • Corporate Affairs Commission
  • Nigeria Deposit Insurance Corporation
  • Office of the Head of Civil Service of the Federation
  • Lagos State Government
  • Nigerian Institute of Policy and Strategic Studies
  • The Nigeria Stock Exchange

 

According to Mohammed, F.IoD the Institute also signed a memorandum of understanding, MOU with Financial Reporting Council of Nigeria (FRCN) on the training and sensitization of public and private institutions on the National Corporate Governance Code. 

He also noted that the IOD Nigeria established the Centre for Corporate Governance, which is the Institute’s flagship centre in collaboration with regulatory agencies like Securities and Exchange Commission, SEC  and the Corporate Affairs Commission, CAC.

Mohammed was happy to observe that the IOD Nigeria has now gained attention more than ever.

He believed the IOD Nigeria should be active in promoting constructive engagement with all stakeholders; especially it's member directors who will face significant challenges in their governance roles. 

The External Auditor SIAO Chartered Accountants Mr. Abiodun Aribiyi giving the financial statement said the IOD Nigeria kept proper books of account, for its 2018 financial year. 

The National Treasurer of the Institute Prince Austin Enajemo-Isire F.IoD in his report said the total net assets of the IOD Nigeria increased from N1.1bn in 2017FY to N2.05bn in 2018 FY.

According to the secretariat, the membership of the IOD Nigeria increased by 10% from 4,113 in 2017 to 4,431 in 2018.

 

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