Lagos: Governance must evolve into a dynamic framework that adapts and leads, shifting from compliance checklists to strategic guidance, experts have said. They spoke at the ICSAN Lagos Chapter 2025 Annual Summit held on Thursday in Lagos.
According to News Agency of Nigeria, the summit was centered on the theme: ‘Governance Redefined in a Business Environment: A Continuum or New Paradigms.’ Prof. Yinka Omoregbe, Founder of Etin Power Ltd., emphasized that governance should transition from a compliance culture to one that prioritizes ethical foresight, accountability, and strategic decision-making. She highlighted the multidimensional nature of modern governance, which encompasses financial accountability, environmental responsibility, digital ethics, and social impact.
Omoregbe noted the necessity for modern governance to balance core values with adaptation to emerging realities. She pointed out that in Nigeria, governance has shifted from compliance to strategic discipline, reflecting global trends. She explained that the persistence of values such as integrity and accountability ensures that governance is a continuum, even as practices evolve.
Omoregbe urged boards to extend their accountability beyond profit, integrating principles such as ESG (Environmental, Social, and Governance) and ethics into their decisions. She encouraged ICSAN to maintain its efforts in training governance professionals through ongoing educational programs. According to her, governance is both a legacy and a living practice, built on responsible use of power and constant adaptation.
ICSAN President, Mrs. Uto Ukpanah, discussed whether the changes in governance signify continuity or a paradigm shift. Ukpanah noted that technological disruption and regulatory changes have altered the perception of governance, which can no longer be viewed through a static lens. She stated that while core principles remain constant, their application is being reshaped by new realities. Governance professionals must now strategically apply these principles to enhance resilience, trust, and sustainable growth.
ICSAN Lagos Chair, Ms. Efosa Ewere, urged professionals to maintain ethical leadership by blending traditional values with technology and ESG priorities. She emphasized the need to redefine governance as a pillar of accountability, transparency, and long-term development. Ewere stated that governance has evolved from merely filing policies to becoming a living and responsive tool for strategic direction.
NIMASA Director-General, Dr. Dayo Mobereola, remarked on the evolution of corporate governance in light of digital transformation and ESG priorities. Mobereola asserted that governance must be transparent, technology-driven, and aligned with stakeholder expectations and regulatory changes.