IoD Nigeria to inaugurate independent directors’ register
The Institute of Directors (IoD) Nigeria has concluded plans to inaugurate certified independent directors’ register poised at creating a database for directors in the country.
An Independent director is a non-executive director of a board who does not have a material or pecuniary relationship with the company or related persons, except sitting fees.
The concept of independent directors is gaining traction in many developed and developing economies around the world and has become a constant feature in contemporary corporate governance codes and even company law statutes.
Speaking ahead of the inauguration slated for today, Acting Director-General/Chief Executive Officer of the Institute, Mohammed Jumba, said the maiden edition of the register will feature participants of the premier IoD Master class in two streams for independent directors holding on Monday 17 July, and Tuesday 18 July, respectively.
Jumba recommends directors interested in featuring in the independent directors register to take the certification course.He said purpose of the Independent Directors Register is to create a database of independent directors in the country and to make it available to organisations looking to appoint Directors.
Jumba noted that the institute has seized the initiative to establish the register to facilitate the engagement of truly independent directors by entities operating in Nigeria. This he said, is complemented by focused training for prospective and practicing independent directors.