LAGOS, Nigeria — The Financial Reporting Council of Nigeria (FRC), the Securities and Exchange Commission (SEC), and leading corporate governance advocates have called for stronger ethical leadership at the board level amid growing global and domestic disruptions.

The call was made on Thursday at the 20th anniversary corporate governance conference of the Society for Corporate Governance Nigeria (SCGN), themed “Strengthening Ethical Governance in a Disrupted World: Reflection on Governance’s Journey for a Sustainable Future.”

The milestone conference, held in Lagos, brought together regulators, business leaders, and governance professionals to reflect on two decades of promoting integrity, transparency, and responsible leadership in Nigeria’s corporate landscape.

Speaking at the event, the Executive Secretary and CEO of the FRC, represented by Titus Osawe, Coordinating Director of the Directorate of Corporate Governance and Inspections & Monitoring, highlighted a series of challenges threatening ethical governance in Nigeria.

He listed issues such as knowledge gaps, digital disruption, greenwashing, data manipulation, artificial intelligence, and the rise of digital assets as emerging risks that demand stronger ethical frameworks.

“Strengthening ethical governance is a collective responsibility,” Osawe said. “We must prioritise ethics and integrity. The FRC remains committed to setting standards, monitoring compliance, and enforcing sanctions where necessary. Together, we can create a culture of transparency, accountability, and integrity that benefits all.”

In his address, the Director-General of the SEC, Dr. Emomotimi Agama, represented by John Briggs, Head of SEC’s Lagos Zonal Office, emphasised that good governance and sustainability have become central to national development.

“In this era of climate change, social inequality, and technological disruption, corporate governance is no longer about compliance alone. It is the foundation for long-term value creation and competitive resilience,” Agama said.

“For emerging economies like Nigeria, sound governance is crucial for driving inclusive, responsible, and sustainable growth.”

Agama commended the SCGN for its “unwavering commitment to advocacy, capacity building, and research,” saying its work has elevated governance standards and enabled Nigerian businesses to compete confidently on the global stage.

Delivering the keynote address, Dr. Omobola Johnson, Board Chair of Guinness Nigeria Plc, underscored the importance of diversity in boardrooms, noting that a wide range of perspectives enhances decision-making and strengthens integrity.

“No single demographic has a monopoly on the knowledge needed for effective governance. Diverse boards promote richer discussions and better ethical outcomes,” she said.

“Integrity must not be viewed as a top-down command but as a shared value that guides decision-making in times of uncertainty.”

SCGN President, Muhammed Ahmad, in his opening speech, said that in an increasingly disrupted world shaped by artificial intelligence and evolving market realities, ethics must remain the anchor of organisational behaviour.

“Ethics is not about ticking boxes; it’s about choosing the right path even when it’s not easy,” Ahmad said. “Governance means leading with transparency, fairness, and accountability.”

Professor Pat Utomi, one of SCGN’s founding directors, offered a philosophical reflection, urging Nigerian leaders to develop conscience and moral courage in governance.

“Sometimes emotion overtakes reason,” he said. “We must nurture conscience and always speak truth to power to guide those who might otherwise lose their way.”

The conference also featured a high-level panel session with Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms; Kim Anderson, CEO of LeadRight Consultant (South Africa); Mrs. Yeside Kazeem, Director at NCGC; and Mrs. Suzanne Iroche, Chairperson of Coronation Life Assurance Limited. The session was moderated by Mr. Adedayo Amzat, Group Managing Director of Zedcrest Group.

To commemorate the anniversary, SCGN unveiled three new publications Corporate Governance and Sustainability Reporting in Nigeria, Governance in Motion: 20 Years of Corporate Governance Influence and Impact, and the 28th Edition of the Journal of Corporate Governance.

The event reaffirmed the collective call for a future where ethics, transparency, and accountability form the foundation of Nigeria’s corporate growth and sustainability.