The Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN, has expressed confidence that the current economic reforms implemented by the present government is beginning to gain traction and show results.

ICSAN says the different sectoral reforms is beginning to gain a lot of traction, because of the gestation period required the populace to feel the impact of those reforms.

L: R Registrar/CEO of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Babatunde Okuneye, ACIS, Hon. Treasurer of ICSAN, Francis Olawale, FCIS, President of ICSAN, Funmi Ekundayo, FCIS, Chairman, Publicity and Advocacy Committee of ICSAN, Nkechi Onyenso, FCIS, Past President of ICSAN, Samuel Kolawole, FCIS at the 4th Presidential Press Parley held in Lagos.

Its Outgoing President/Council Chairman, Funmi Ekundayo, said this during her valedictory media parley in Lagos, where she projected a positive economic outlook for Nigeria, saying this was due due to government’s macroeconomic reforms.

Ekundayo who is the first female president said sustaining economic growth and revenue generation in Nigeria will require concerted efforts in reform implementation and effective budget execution.

According to her, the Nigerian economy has displayed a lot of resilience, right in the face of several challenges, saying with sustained political will and strength by government, the reforms are expected to gain momentum and deliver lasting impact in the country.

Ekundayo, a Lawyer, chartered secretary and administrator, corporate governance professional, chartered stockbroker and capital market practitioner stated that Nigeria must imbibe good governance and compliance culture to drive economic stability and improve its growth outcomes.

She called for increased efforts to diversify the economy to reduce its overly huge reliance on crude oil exports, urging citizens to continue to be resilient for a positive horizon and a more prosperous Nigeria where the different reforms would have taken shape.

“Government has been doing a whole lot with regards to reforms but the room that is largest in this world is the room for improvement. We must improve the narrative as regards the country’s macroeconomic indicators and the government must address inflation figures and continue with the right reforms in place to stabilise the economy.

“In a bid to diversify away from oil exports, the government must do better in the area of mechanised agriculture and provide the necessary support, such as power and other essential infrastructure for micro, small and medium enterprises and manufacturing. We must develop the country’s human capital, spur innovation and ensure productivity is on the high side to create new economic growth opportunities,” she said.

Ekundayo acknowledged the challenges of inflation, high living costs, unemployment, and infrastructure gaps. However, she noted that there is hope for economic resilience, particularly within sectors such as finance, telecommunications, and trade.

She emphasised the importance of diversifying the economy beyond oil and expressed optimism that current policy reforms, if consistently implemented, would lead to long-term recovery.

Ekundayo stressed that governance professionals have a vital role in helping Nigeria navigate the challenges saying ICSAN has played a key role in promoting transparency, accountability, and sound corporate governance, which are essential ingredients for economic development.

The outgoing president further emphasised ICSAN’s efforts in publishing thought leadership papers, sectoral guidelines, and policy briefs to support governance reform in both corporate and public institutions.

According to her, ICSAN’s sectoral groupings have allowed for more targeted impact across industries, aligning governance with specific business realities.

She encouraged entrepreneurs and small business owners to adopt governance structures from the early stages of their ventures, stating that accountability, proper financial management, and internal controls are essential for sustainable growth and investor confidence. “Governance should be viewed not as a burden but as a strategic enabler of business success,” she remarked.

Ekundayo reaffirmed ICSAN’s commitment to upholding high standards of professionalism and its positioning as a key driver of governance in Nigeria.

She highlighted the institute’s global reach as a member of the Corporate Secretaries International Association (CSIA), its leadership role within the body, and recent international recognitions that have elevated Nigeria’s profile on the global governance stage.

Speaking on the institute’s achievements during her two years, the ICSAN president said the institute had been able to record some remarkable milestones, forging partnerships with various stakeholders.

She added that ICSAN had increased its penetration into the public sector to further entrench good public governance in the sector.

Ekundayo noted that the institute’s old secretariat had been demolished, contracts signed off and officially laid the foundation of its N3.5 billion three-storey national secretariat in Alausa, Lagos.

She called for support in achieving the projected ICSAN tower, while the institute continued to partner with relevant stakeholders, provide value to members and make its contributions to national development.

She said the building will further help ICSAN to continue to advance its campaign of corporate governance, saying the building will have three suspended floors and each of the floors is about a 1000 square meters.

It is expected, based on the architectural design, the first and second floors will be rented to corporate organisations while the third and fourth floors will be used by ICSAN.

She added that with such development, ICSAN reinforces its commitment to strengthen professionalism, integrity, and continuous advancement in good governance and administration in Nigeria.

According to her, the ICSAN also unveiled master’s in governance programme, signed several Memorandums of Understanding, got over 300 new members, collaborated with several state governments and began our penetration in the northern part of the country.

Ekundayo advised emerging entrepreneurs to embed governance principles from the early stage of their business into their operations to promote long-term survival.

She said structures such as decision making protocols, internal accountability mechanisms and good financial records would help strengthen governance within their organisation.

“Conducting regular internal reviews and observing legal and tax obligations from day one will also help them to be law-abiding and they will be able to defend themselves for regulatory breaches.

“No matter how small you are starting out, it is important to have these structures in place.

“As you continue to grow the business, you will see that investors will have confidence to put their money in your business,” she said.

Ekundayo stated that the institute, as part of its many significant contributions to national development, had championed good governance, built capacity and advocated policy reforms.

She ICSAN had helped to foster economic growth by promoting transparency, accountability and professionalism.

“In response to increasing demand for transparency across all sectors, ICSAN has actively positioned itself as a thought leader through strategic advocacy, intellectual engagement, and capacity development.

“Our approach has been to lead by example as an institute and to also serve as a critical voice in national and public governance discourse,” she said.

She called for sustained collaboration to strengthen governance in both public and private sectors.

Ekundayo described her administration as one marked by passionate service, institutional consolidation, and purposeful continuity.

She expressed satisfaction with the progress made in strengthening the institute’s structures, visibility, and relevance in Nigeria’s governance discourse.

The ICSAN boss stated that as she bowed out of service, her overarching legacies were of passionate service, institutional consolidation and purposeful continuity.

“The legacy I leave behind is anchored on the belief that good governance is not just a destination, but a journey that demands consistent efforts, courageous leadership and an unwavering commitment to ethical values.

“I believe that the president-elect will continue from where I stopped and achieve even greater feats in office.

Ekundayo expressed belief in the competence and capacity of the incoming administration to be led by President Elect, ICSAN, Uto Ukpanah and Vice President Elect, ICSAN, Francis Olawale.

She described them as capable professionals who would build on the foundation already laid. “I extend my very sincere congratulations and unflinching support to them,” she said, urging stakeholders to continue upholding ICSAN’s values of ethics, professionalism, diligence, and public service.

She announced that ICSAN’s 30th Presidential Investiture and the formal introduction of the incoming President and Vice President will take place on 23rd July, 2025, at the Oriental Hotel in Lagos.

“I urge everyone to continue to embody the ideals that define us, which are ethics, professionalism, dignity, and service to society,” Ekundayo said, emphasised the importance of the country putting its best foot forward to tackle its insecurity challenges.

Ekundayo, expressed appreciation to stakeholders and media partners for their steadfast support throughout her tenure.

She lauded the media for its worthy partnership in propagating the ethos of good corporate governance and pledged that the relationship would be deepened in the coming years.

Thanked members of the press and institutional partners for amplifying the institute’s voice and activities. “Thank you for projecting all our programs, all our activities, and for being a worthy collaborator as we continue to promote the efforts of good governance in Nigeria,” she said.