Corporate leaders in Nigeria have been admonished to prioritize trust as a fundamental component of national development, arguing that financial capital alone is no longer sufficient to guarantee an organization’s long-term sustainability. The call was made during the 2026 Fellows’ Night & Investiture ceremony of the Chartered Institute of Directors (CIoD) Nigeria, held in Lagos, where distinguished figures in the corporate sector gathered to discuss the evolving role of reputation in business.
Speaking on the theme “The Trust Economy: Why Reputation Has Become Every Board’s Greatest Asset,” Funke Opeke, Founder of MainOne, emphasized that building corporate reputation extends beyond the character of a Chief Executive Officer. Opeke noted that stakeholder trust involves suppliers, regulators, employees, and customers, urging organizations to codify the management of reputation and the engendering of trust into their core strategies, policies, and business practices.
Otunba Oyebanji, President/Chairman of the Governing Council of the Institute, charged the newly inducted Distinguished Fellows and Fellowship members to view reputation not merely as a public relations matter, but as a critical governance responsibility and strategic asset. He stated that trust directly influences whether investors commit capital, customers remain loyal, and regulators maintain confidence in an institution, ultimately determining an organization’s ability to sustain its license to operate.
“Trust influences whether investors commit capital, whether customers remain loyal, whether regulators have confidence in an institution and whether employees are proud to be associated with it. Ultimately, trust can determine an organisation’s ability to sustain its license to operate,” Oyebanji said.
Oyebanji further explained that boards play a central role in shaping organizational culture through the quality of their decisions, the integrity of their oversight, and their willingness to hold management accountable. He warned that weaknesses in governance can rapidly escalate into financial, regulatory, and reputational consequences, noting that in an era of unprecedented public scrutiny, a single governance failure can undermine value built over many years. He added that modern directors must navigate complex challenges including technological disruption, cybersecurity, sustainability, and artificial intelligence.
Alhaji Tijjani Borodo, Chairman of the Fellows & Awards Committee, cautioned that Fellowship status is not merely a title or a tribute to past achievements, but a standing entrusted by peers that carries enduring obligations. Borodo urged the new Fellows to lead by example, uphold the values of the Institute, and use their influence to promote ethical leadership and accountability. The CIoD reaffirmed its mandate to equip directors with the knowledge and tools required to lead responsibly, emphasizing that the sustainability of an institution rests on how it achieves its goals, not just what it achieves.
<small>Source: The Sun Nigeria — read the original story there.</small>
