Lagos Business School (LBS) and the Chartered Institute of Directors (CIoD) Nigeria formalised a landmark Memorandum of Understanding (MoU) on Friday, January 16, 2026, marking a significant step toward transforming corporate governance and enhancing board effectiveness across Africa. The partnership aims to elevate the standards of director preparation by ensuring it is robust, rigorous, and capable of supporting sustainable macroeconomic growth through exemplary leadership.
A Vision for Competence and Character
The collaboration is anchored on the shared conviction that the quality of leadership at the board level is central to public trust, organisational performance, and national development. Emphasising the weight of this responsibility, the President of CIoD Nigeria, Otunba Adetunji A. Oyebanji, F.CIoD, stated:
“Today marks an important moment in our collective effort to strengthen leadership practice, board effectiveness, and ethical conduct within Nigeria’s corporate space. This Memorandum of Understanding is a deliberate commitment to cooperation in director education, research, and advocacy, representing a clear milestone under our ICE Agenda of Innovation, Collaboration, and Engagement. Through this partnership, we will address the changing demands placed on boards, from Artificial Intelligence to ESG matters, while reinforcing that competence without character is insufficient for effective directorship. Ultimately, we are making a deliberate contribution to preparing directors to meet their responsibilities with confidence, ensuring they provide the sound oversight and ethical tone required for national development.”
Bridging Theory and Practice
A key focus of the signing ceremony was the need to close the gap between academic training and real boardroom experience. Mrs Amina Oyagbola, F.CIoD, First Vice President of the CIoD, underscored the importance of developing locally relevant case studies while upholding global teaching standards. She highlighted the necessity of materials that reflect Africa’s unique business landscape, noting that: “The growth of Africa will be led by the private sector, making it imperative that its leaders are equipped to lead effectively.”
Supporting this view, Professor Okechukwu Amah, Director of Research at LBS, emphasised that the MoU will be firmly grounded in rigorous research. By championing evidence-based decision-making, the partnership aims to ensure that board appointments and boardroom practices are intellectually sound and well-informed.
Inclusivity and the Public Sector
The Dean of LBS, Professor Olayinka David‑West, broadened the discussion by calling for greater diversity in directorship. She stressed the need to move beyond traditional board structures and embrace gender, ethnic, and intergenerational diversity as drivers of stronger governance outcomes.
She further noted that the collaboration will extend beyond the private sector to build capacity within public institutions, recognising that national development depends on strong leadership across all spheres.
A Mandate for Execution
The event concluded with a call to action. The CIoD President urged the steering committee to identify “immediate wins” to sustain momentum, emphasising that the true measure of the MoU’s success will lie in its implementation. With a framework for periodic reviews already in place, both institutions reaffirmed their commitment to ensuring that the partnership delivers lasting value.
As this collaboration takes hold, LBS and CIoD Nigeria are setting a new benchmark for how academic excellence and professional discipline can come together to shape the future of African enterprise.
