The Institute of Chartered Secretaries and Administrators of Nigeria has challenged Nigerian businesses to balance profitability with ethical leadership, accountability, and sustainable business practices, warning that long-term corporate success must go beyond financial returns.
The President and Chairman of the Governing Council of ICSAN, Uto Ukpanah, gave the charge at the Institute’s 2026 Annual Conference and Diamond Jubilee celebration held at the Federal Palace Hotel, Victoria Island, Lagos.
Ukpanah stated that businesses must create wealth, generate employment, and remain competitive while responding to the expectations of investors, employees, regulators, consumers, and the communities in which they operate.
Speaking on the conference theme, “Balancing Profit and Purpose: Advancing Sustainable Business Practices in Emerging Economies,” she noted that the changing business environment had made responsible corporate conduct, resilience, and accountability increasingly important.
“The fundamental question, therefore, is no longer simply how much value a business creates, but also how that value is created, for whom it is created, and whether it can be sustained over time,” she said.
She explained that businesses in emerging economies such as Nigeria must navigate economic uncertainty, technological disruption, climate-related concerns, evolving regulatory expectations, and increasing scrutiny of corporate conduct.
According to her, achieving sustainable growth requires organisations to strike a balance between commercial objectives and their broader responsibilities to society.
Ukpanah also emphasised the strategic role of company secretaries and governance professionals in promoting compliance, accountability, ethics, risk management, and effective corporate decision-making.
She noted that ICSAN must continually equip its members with the knowledge, competence, and ethical grounding required to respond to changing business and governance expectations.
She added that the Institute’s 60th anniversary was not merely a celebration of longevity but a recognition of six decades of professional development, institutional growth, and contributions to corporate governance in Nigeria.
Under its Diamond Jubilee theme, “Six Decades of Excellence: Shaping Governance, Empowering Futures,” she stated that the Institute remained committed to raising professional standards, strengthening institutions, and preparing future generations of governance professionals.
Also speaking at the gala night and awards ceremony, the dinner chairman, Dr Owen Omogiafo, stressed the importance of company secretaries to organisational efficiency and the achievement of corporate objectives.
Omogiafo, who is associated with Transcorp Group, stated that she relied heavily on company secretaries to support effective governance and ensure that organisations remained focused on their strategic priorities.
She explained that while boards provide policy direction and management implements corporate decisions, competent company secretaries help connect governance structures with organisational performance.
She said, “When you have a corporate secretary who is very, very on top of whatever he or she is doing, you help the organisation to meet its strategic objectives.”
Omogiafo described governance as an abstract concept that professionals in the field translate into practical outcomes, urging ICSAN members to apply the knowledge acquired during the conference to their respective organisations.
She also challenged professionals to consider their individual contributions to Nigeria’s development, saying the country’s prospects for greatness depended partly on the willingness of citizens to fulfil their responsibilities.
She further commended the Institute for maintaining its standards of excellence and encouraged members to embrace emerging issues, particularly artificial intelligence and sustainability.
Additionally, the dinner chairman called for continued support for women’s leadership, acknowledging the Institute’s history of female leadership and commending men who create opportunities for women to excel in professional and leadership positions.
In her goodwill message, the immediate past president of ICSAN and first female president of the Institute, Funmi Ekundayo, congratulated the organisation on reaching the milestone, describing its 60-year journey as evidence of sustained commitment to professional excellence, ethical leadership, and good governance.
Ekundayo, who also spoke in her capacity as president of the Corporate Secretaries International Association, said ICSAN had contributed to corporate governance in the private sector, governance reforms in the public sector, and the development of professionals responsible for compliance and accountability.
She noted that the anniversary theme reflected one of the major governance challenges of the time: how emerging economies could achieve economic growth that was inclusive, efficient, resilient, and sustainable.
Ekundayo also identified artificial intelligence and digital transformation as developments that would shape the future of governance, urging the Institute to continue nurturing agile, ethical, and globally competitive professionals, while reaffirming the international association’s commitment to deeper collaboration with ICSAN in advancing good governance and sustainable development.
As part of activities marking the anniversary, Ukpanah announced that the Institute was making progress on the construction of a new national secretariat, describing the project as an investment in the future of the profession.
She explained that the Institute’s existing secretariat had served it over the years but that its expanding activities and future ambitions required infrastructure commensurate with its standing.
Ukpanah appealed to Fellows, Associates, members, corporate organisations, government institutions, professional bodies, and other stakeholders to contribute towards completing the project, assuring supporters that the Institute remained committed to the responsible management of resources entrusted to it.
A major highlight of the celebration was the conferment of Fellowship on 40 candidates who had been evaluated and recommended for elevation by the Institute’s Membership and Branch Liaison Committee.
Ukpanah, in her capacity as president and chairman of the Governing Council, formally conferred the distinction on the inductees following the Council’s approval.
She noted that Fellowship represented not only recognition of professional achievement but also a call to greater responsibility, ethical leadership, and service to the Institute and society, urging the new Fellows to uphold the values of the profession and use their experience to strengthen the reputation of ICSAN and inspire future governance professionals.
The Institute also recognised four distinguished Nigerians with honorary awards: the Emir of Kano, Khalifa Sanusi Muhammad; Professor Fabian Ajogwu; Emmanuel Ikazoboh; and Dr Armstrong Ume Takang.
The anniversary celebration brought together governance professionals, captains of industry, regulators, policymakers, academics, and representatives of professional bodies to reflect on the Institute’s achievements and the future of corporate governance in Nigeria.
In his vote of thanks, ICSAN Vice-President and Chairman of the Conference Planning Committee, Francis Olawale, expressed appreciation to participants and stakeholders who contributed to the success of the conference and Diamond Jubilee celebration.
The event marked six decades since the establishment of ICSAN in 1966, with the Institute reaffirming its commitment to professional excellence, accountability, and the development of governance practices in Nigeria.
