The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) honored four individuals, including Emir of Kano Sanusi II and Professor Fabian Ajogwu, at its 60th anniversary conference in Lagos, emphasizing the need for stronger corporate governance to achieve Nigeria’s $1 trillion economy target by 2030.
ICSAN Marks 60 Years with Focus on Governance and Economic Growth
ICSAN’s 60th anniversary conference, held in Lagos on October 9, 2026, brought together business leaders, policymakers, and experts to discuss the role of corporate governance in Nigeria’s economic ambitions. The event, themed Balancing Profit and Purpose: Advancing Sustainable Business Practices in Emerging Economies,
highlighted the urgency of aligning commercial success with long-term stakeholder value to achieve the nation’s $1 trillion economy goal by 2030.
ICSAN President Uto Ukpanah warned that weak corporate governance could undermine Nigeria’s economic aspirations, stressing that businesses must prioritize transparency, ethical leadership, and sustainability. Profitability must be supported by sound governance, resilience, and a clear sense of responsibility,
she said, citing the need for accountability in both the private and public sectors. Ukpanah, who also serves as Chairman of ICSAN’s Governing Council, emphasized that the institute’s 60 years of existence reflected its commitment to professional excellence, transparency, and sound governance.
During the conference, ICSAN Registrar/Chief Executive Officer Aniedi Amos, FCIS, reiterated the importance of governance in Nigeria’s economic development. He stated that the nation’s ambition to build a $1 trillion economy could be undermined if businesses failed to entrench accountability, ethical leadership, and sustainable corporate governance. Amos also highlighted ICSAN’s role in promoting practices that support organizational performance, sustainability, and accountability, aligning with the Federal Government’s 2030 target.
Honorees Recognized for Leadership in Governance
The conference celebrated the induction of four individuals into ICSAN’s Honorary Fellowship, including Emir of Kano Sanusi II, Professor Fabian Ajogwu, Managing Director of Ministry of Finance Incorporated (MOFI) Dr. Armstrong Ume Takang, and Emmanuel Ikazoboh, former Group Chairman of Ecobank Transnational Incorporated. The recognition came amid growing concerns over the need to strengthen ethical leadership and institutional accountability in Nigeria’s public and private sectors.
Dr. Takang, in a statement, emphasized the importance of strong institutions and transparency in achieving sustainable economic development. These principles remain central to MOFI’s efforts to improve the management of the Federal Government’s investments and assets,
he said. The honorees were celebrated for their contributions to corporate governance, leadership, and institutional development. Takang, who was conferred with the Honorary Fellowship at ICSAN’s 2026 Annual Conference, also highlighted MOFI’s initiatives to promote accountability and improve institutional performance.
Professor Fabian Ajogwu, OFR, SAN, a Professor of Corporate Governance at Lagos Business School and founder of the Society for Corporate Governance Nigeria, received recognition for his academic and professional contributions. The Emir of Kano, Khalifa Dr Muhammadu Sanusi II, was also honored for his leadership in governance and public administration. Emmanuel Ikazoboh, now Chairman of Dangote Cement Plc, was acknowledged for his role in shaping corporate governance in the financial sector.
Calls for AI Governance and Stakeholder-Centric Practices
Lagos State Governor Babajide Sanwo-Olu, represented by Secretary to the State Government Bimbola Salu-Hundeyin, called for stronger collaboration between ICSAN and public institutions to improve governance in the face of technological advancements. He encouraged businesses to balance profitability with responsibility, asserting that commercial success should foster shared prosperity and national development.
Sanwo-Olu highlighted the need for clear standards for board oversight of artificial intelligence and data use, stating, Innovation must be matched by governance, and growth must be matched by responsibility.
His remarks aligned with those of Oscar Onyema, former Group CEO of Nigerian Exchange Group, who stressed that profitability and purpose should reinforce each other rather than compete. Onyema, who also held the role of Conference Chairman during the event, cautioned that weak governance and insufficient institutional credibility might undermine investor confidence and limit businesses’ access to long-term capital.
Onyema further urged company secretaries and governance professionals to move beyond compliance functions and become strategic advisers to boards, helping organizations uphold ethical standards and make decisions that support long-term value creation. He emphasized that sustainable practices could reduce operating costs, improve resilience, and attract domestic and international investment, strengthening customer trust and global supply chain access.
Sustainability as a Driver of Competitiveness
Professor Biodun Adedipe, a key speaker at the conference, argued that sustainability should go beyond doing less harm
to actively creating development impact. He urged businesses to integrate environmental, social, and governance (ESG) principles into their strategies, noting that sustainable practices could reduce operating costs, improve resilience, and attract investment. Adedipe, who is a Professor of Practice at James Hope University and founder of B. Adedipe Associates Limited, also emphasized that sustainability should not be viewed solely as a compliance obligation but as a catalyst for competitiveness and long-term business survival.
Adedipe’s vision for sustainable business practices included a focus on the triple-bottom-line approach—people, planet, and profit—while addressing stakeholder expectations, regulatory requirements, and global sustainability commitments. Keep your eyes on the future. Legacy! What can your organisation become after your exit? Better or worse?
he asked, challenging leaders to prioritize long-term impact over short-term gains. His remarks echoed the conference’s theme of balancing profit and purpose to achieve sustainable economic growth.
ICSAN’s Role in Shaping Nigeria’s Governance Landscape
ICSAN’s 60-year history reflects its commitment to professional excellence, transparency, and sound governance. The institute, established in 1966, has promoted corporate governance practices that support organizational performance, sustainability, and accountability. Its efforts align with Nigeria’s broader goal of building a $1 trillion economy by 2030.
The institute’s new national secretariat, nearing completion, is expected to be completed and inaugurated before the end of her tenure in July 2027. Ukpanah noted that the secretariat’s completion would mark a significant milestone in ICSAN’s efforts to strengthen Nigeria’s governance profession.
During the conference, ICSAN also announced the induction of 40 new fellows and recognized individuals and organizations for advancing corporate governance, leadership, and institutional development. Ukpanah urged members and stakeholders to support the institute’s development projects, stating that the new secretariat would serve as a hub for professional growth and innovation. She emphasized that ICSAN’s highest membership tier, the Honorary Fellowship, was not merely an achievement but a responsibility demanding greater commitment to integrity, competence, and service.