IoD Charter Bill Passes Second Reading

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By Ugo Aliogo

The Institute of Directors (IoD) charter bill has passed the second reading on the floor of the House of Representative.

Disclosing this at the 2018 Annual Directors Dinner and Awards Night organised by the institute in Lagos, the Chairman of Governing Council, Institute of Directors Nigeria, Alhaji Ahmed Mohammed, noted that the effort to get a charter status for the institute has received great momentum, adding that they are getting closer to achieving their objective.

“The Senate passed the IoD Charter Bill earlier this year and only last month, we attended a very successful Public Hearing at the House of Representatives after our Bill had passed second reading on the floor of the House,” he explained.

He expressed confidence that the bill would be passed by the House of Representatives in the coming days, while commending the Chairman, members of the Charter Committee and members of the Institute for their untiring efforts to ensure the Institute becomes chartered.

Mohammed, said another achievement worthy of note was the completion of the IoD Nigeria Landswap agreement.

The IoD chair explained that after a lull of over three years, the matter was resolved in August, with the institute taking possession of an alternative property on 8 Temple Road, Ikoyi “in place of our property on 53 Glover Road, Ikoyi, which has also been officially handed over to Transcorp Hotels Plc as agreed under the Landswap agreement.”

Mohammed further stated that since the resolution of the Landswap matter, they have swung into action and the governing council had approved a new design of a proposed 15 storey headquarter building for the institute.

He added that they have approached the Lagos State Government “regarding the statutory approval, which the state governor, Mr. Akinwunmi Ambode has promised us would be seamless.”

According to him, “This year, the Institute also reviewed and adopted a new Governance Charter. You will all recall that after the Strategic Retreat of the Governing Council and Executive Committee of the Institute held in December 2016, it was proposed and agreed that there was a need for the review of the Institute’s Governance Charter with a view to ensuring proper devolution of power between the various organs of the Institute.

“The governance charter was also expected to review the IoD committees, their statutes, roles, functions and membership.”