Senate advances bill to rebrand governance institute

By Henry Umoru

ABUJA — A bill that would re-establish and rename the Institute as the Chartered Governance Institute of Nigeria has passed its second reading in the Senate. The move aims to bring Nigeria’s governance profession in line with international standards.

The proposed law, titled A Bill for an Act to Repeal the Institute of Chartered Secretaries and Administrators of Nigeria Act and Enact the Chartered Governance Institute of Nigeria to Provide for Standards of Knowledge, Skills and Professional Conduct, 2026 (SB. 89), was sponsored by Senators Sharafadeen Abiodun Alli and Osita Izunaso.

After the second‑reading vote, the Deputy President of the Senate, Senator Jibrin Barau, referred the bill to the Senate Committee on Establishment and Public Service for further scrutiny, instructing the committee to report back within four weeks.

Leading the debate, Senator Alli said the bill was essential to modernise Nigeria’s governance framework and reposition the profession in line with global developments.

He noted that good governance underpins sustainable development, institutional efficiency, transparency and economic growth, and that governance professionals now perform strategic roles beyond traditional administrative duties.

Alli explained that the Institute of Chartered Secretaries and Administrators of Nigeria has historically contributed to corporate governance, compliance and ethical standards in both the public and private sectors, but that global practice has evolved.

He added that governance roles worldwide now include board advisory services, risk management, sustainability oversight, compliance monitoring and institutional accountability.

Alli pointed out that several countries, including the United Kingdom, Canada, Australia and New Zealand, have already adopted the “Chartered Governance Institute” designation to reflect these expanded responsibilities.

He argued that Nigeria must not be left behind in this global shift, stressing that the bill seeks to reposition the institute as a modern governance body.

The bill also aims to strengthen corporate governance frameworks, enhance professional certification and training, and promote ethical standards across sectors.

Lawmakers said the reform would improve public‑sector accountability, strengthen investor confidence, enhance transparency and boost regulatory compliance.

They further contended that higher governance standards would help reduce corruption, improve service delivery and increase national competitiveness.

Senator Alli added that the transition would not impose a significant financial burden, as the institute would continue to operate using its existing infrastructure and personnel, with only minimal administrative adjustments expected.

He described the bill as a forward‑looking reform that would strengthen governance practice and contribute meaningfully to national development.

In a related development, the Senate also considered another bill that would establish the Chartered Institute of Safety Engineers. That bill also passed its second reading and was referred to committee for further legislative work.

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