The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has stressed the importance of corporate governance in ensuring businesses operate profitably while adhering to ethical and legal standards. This was stated by Vice President of ICSAN, Francis Olawale, ahead of the institute's 60th anniversary and its 2026 Annual Conference. The conference, themed "Balancing Profit and Purpose: Advancing Sustainable Business Practices in Emerging Economies," aims to bring together business executives, policymakers, regulators, academics, and governance professionals to discuss sustainable business and responsible governance.
The conference, scheduled for October 9 at the Federal Palace Hotel in Lagos, will also feature a Diamond Jubilee theme, "Six Decades of Excellence: Shaping Governance, Empowering Futures." Olawale, who is also the conference planning committee chairman, noted that the theme was informed by the dilemma faced by businesses seeking to remain profitable while complying with regulations and ethical requirements. He emphasized that corporate governance professionals have a responsibility to guide businesses on how to pursue profitability without compromising compliance.
According to Olawale, the state of the economy directly affects the welfare of Nigerians, and businesses play a central role in the economy. The government's responsibility includes creating an enabling environment for businesses to thrive. He added that ICSAN contributes to nation-building through policy advocacy, advising government, and partnering with government agencies across different sectors. The institute's annual conference will also examine the implications of Nigeria's ongoing tax reforms for corporate governance, transparency, and business sustainability.
A partner from PricewaterhouseCoopers (PwC) is expected to speak on the tax reforms and their implications, while the keynote address will be delivered by economist and principal partner of Adedipe & Associates, Professor Adedipe. Olawale described Adedipe as a renowned economist with experience spanning the banking industry, government advisory, and academia. Participants are expected to benefit from his experience, and the conference will also feature a capacity-building session with Alawusa Adewuyi, a fellow of the institute and company secretary of Keystone Bank.
Beyond the conference sessions, Olawale said the program would provide opportunities for members to interact, including mentoring younger members. The second day of the conference will feature the institute's gala night and awards, including its regular Chartered Secretary of the Year award. As part of activities marking ICSAN's 60th anniversary, the institute will recognize individuals who have made significant contributions to its development and induct a larger-than-usual number of new fellows.
Olawale noted that ICSAN has played a significant role in the development of corporate governance codes and policy initiatives. The institute had significant representation in the process that produced the Nigerian Code of Corporate Governance (NCCG) in 2018. ICSAN has also contributed to developing corporate governance frameworks for the public and non-profit sectors and partnered with government agencies and sub-national governments on policy development and advocacy.
However, Olawale identified public misunderstanding of the role of chartered secretaries as one of the major challenges confronting the institute. He said the institute had also faced challenges in expanding its geographical presence, particularly in Northern Nigeria. ICSAN is currently seeking to change its identity to the Chartered Governance Institutes of Nigeria, with a bill to that effect before the National Assembly. Olawale expressed hope that the bill would be passed into law in the near future.
Key points
- Corporate governance is critical for businesses to operate profitably while complying with ethical and legal standards.
- ICSAN's 60th anniversary and 2026 Annual Conference will focus on sustainable business practices and responsible governance.
- The institute has contributed significantly to the development of corporate governance codes and policy initiatives in Nigeria.
