The Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN has called for the adoption of artificial intelligence to enhance corporate governance and sustainability in Nigeria.

L-R: Registrar/CEO of Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Babatunde Oladipo Okuneye ACIS, Chairman of Lagos State Chapter of ICSAN, Efosa Ewere, FCIS, Hon. Treasurer of ICSAN, Francis Olawale, FCIS, President of ICSAN, Funmi Ekundayo, FCIS, Keynote speaker, Associate Director & Data Engineering Lead (Africa), KPMG, Christopher Ogirri, Vice Chairman of ICSAN Corporate Members and Training Committee, Olufunlola Salami, FCIS, Discussant, Group General Counsel/Company Secretary, United Capital Plc, Dr. Leo Okafor, FCIS, and Discussant, Head, Communications and Partnership, NGX Group, Clifford Akpolo, at the ICSAN 2025, Company Secretaries and Registrars’ Forum

ICSAN says with the advancement of technology, company secretaries can spend less time on data processing, as the introduction of Artificial Intelligence shall allow secretaries to spend effective time on problem-solving.

It believes artificial intelligence is no longer just an emerging trend but a critical tool for strengthening governance frameworks, improving compliance, and ensuring sustainable business practices.

Its President and Council Chairman, Funmi Ekundayo, said this at the ICSAN 2025 Company Secretaries and Registrars’ Forum in Lagos, themed “Enhancing the AI Mindset in Delivering Sustainability Principles on Data Management and Governance.

Ekundayo who is the First Female President said the intersection of artificial intelligence, environmental, social, and governance principles, and data management is now central to corporate sustainability.

According to her, as governance professionals, they must not only understand the concepts but also lead their adoption in their organisations.

She said the forum revolved around discreet application of Artificial Intelligence to deliver cutting-edge result in data management and governance.

Ekundayo noted that data management referred to the practices of collecting, organising, protecting, and storing data to enable its analysis for informed business decisions.

She added that it involved various aspects such as data governance, quality management, security, and integration.

Ekundayo noted that AI offered undeniable benefits such as faster performance, reduced human errors, elimination of injury in hazardous environment among others.

She, however, stressed that there was currently increasing awareness on the imperative of safe and environmentally-corporate business practices inclusive of AI adoption and usage.

Hence, the need to find ways AI can be employed as a technical accelerator and incubator mechanism for delivering innovations and products in consonance with sustainability principles on data management and governance.

Developing the appropriate mindset is a sine qua non for achieving success in any endeavour, and our focus at this forum is to enhance AI mindset for optimal delivery,” she said.

Delivering the keynote address, Associate Director & Data Engineering Lead, Africa Tech Platforms AI & Data Services, Christopher Ogirri, emphasised the need for businesses to embrace AI-driven solutions for efficient governance.

He highlighted AI’s role in automating compliance reporting, reducing errors, improving risk assessment, and streamlining governance processes.

He further noted that ESG reporting would become mandatory in Nigeria by 2028, with large public interest entities expected to comply by 2027, while small and medium-sized enterprises must follow by 2030.

Ogirri urged company secretaries and registrars to prepare for the shift, as regulators such as the Financial Reporting Council, Securities and Exchange Commission, and Nigerian Exchange Group are tightening compliance requirements.

He said as governance professionals, secretaries and registrars played a crucial role in ensuring compliance, transparency, and efficient corporate decision-making.

Ogirri said ESG reporting would become mandatory in Nigeria by 2028, following the Financial Reporting Council Adoption Readiness Roadmap.

He noted that large Public Interest Entities (PIEs) must comply by 2027, with others following in 2028, and Small and Medium Enterprises required to report from 2030.

Ogirri stressed that as organisations adopt AI to enhance ESG data management and governance, secretaries and registrars must be aware of key concerns related to data privacy, security, and reliability.

He added that regulatory and governance concerns must be carefully addressed to ensure compliance, transparency, and ethical decision-making

“Managing vast amounts of ESG related data presented significant challenges, including accuracy, consistency, and regulatory compliance.

“While AI enhances ESG reporting by automating data collection and analysis, improving transparency and compliance, governance professionals must ensure its responsible and ethical use.

“As organisations integrate AI into governance and ESG processes, secretaries and registrars must collaborate with technology teams to ensure that AI tools align with compliance, and ethical standards,” he said.

Company Secretary, United Capital Plc, Dr Leo Okafor, emphasised the need for an ethical AI committee, chaired by independent committee board members to identify gaps in the system to drive accountability.

Okafor also called for the awareness and implementation of the laws on responsible AI use, saying organisations must have a framework that protects data, correct breaches.

Managing Partner, Caleb Consulting Uganda Ltd., Bamidele Oseni, said secretaries and administrators must take advantage of compliance software, block chain technology to drive organisational efficiency.

Oseni said for everyone using AI, there are obligations such as risk management system, data system, human oversight, robust cyber security framework for accountable AI use.

Head, Group Communications and Partnership, Nigerian Exchange Group (NGX), Clifford Akpolo said AI facilitated ESG reporting, data analytics and optimised operation and energy costs.

Akpolo, however, noted that AI was as good as the person administering it, revealing that the NGX was exploring how to enhance operations via AI seeing the peculiarities of the stock market.