Senate advances bill to rebrand governance institute

By Henry Umoru

ABUJA — A bill seeking to re-establish and redesignate the Institute as the Chartered Governance Institute of Nigeria has scaled second reading in the Senate, in a move aimed at aligning Nigeria’s governance profession with global standards.

The proposed legislation, 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.

Following its passage at second reading, the Deputy President of the Senate, Senator Jibrin Barau, referred the bill to the Senate Committee on Establishment and Public Service for further legislative scrutiny, with a directive to report back within four weeks.

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

He noted that good governance remains the foundation of sustainable development, institutional efficiency, transparency and economic growth, adding that governance professionals now play strategic roles beyond traditional administrative functions.

According to him, the Institute of Chartered Secretaries and Administrators of Nigeria has historically contributed to corporate governance, compliance and ethical standards across both public and private sectors, but global practice has since evolved.

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

Alli said 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 seeks to strengthen corporate governance frameworks, enhance professional certification and training, and promote ethical standards across sectors.

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

They further argued that improved governance standards would help reduce corruption, enhance service delivery and improve national competitiveness.

Senator Alli added that the transition would not impose 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 seeking to establish the Chartered Institute of Safety Engineers, which also passed second reading and was referred to committee for further legislative work.

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