Union bank MD tasks directors on sustainable organisational growth

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By Rukayat Moisemhe

Mrs Yetunde Oni, Managing Director, Union Bank of Nigeria Plc, says directors play a pivotal role in driving sustainable organisational growth and creating value beyond profits.

Oni said this on Thursday in Lagos, at the Chartered Institute of Directors (CIoD) New Members Induction Dinner.

She said that the true worth of an organisation was both in what it takes and what it gives back.

She said that at the heart of profitability was a sound structure of governance, ethics and risks.

Oni suggested continuous learning and charged organisations on the devotion of a percentage of company’s earnings to Corporate Social Responsibility (CSR) initiatives.

“Directors are no longer just custodians of financial success but architects of sustainable growth which translates to looking beyond profit.

“Sustainable growth requires solid structures and policies that can stand the test of time.

“Investment in continuous learning and corporate social responsibility activities are not expenses but seeds for sustainable growth,” she said.

In his remarks, Alhaji Tijjani Borodo, President, CIoD, said that the event celebrated the induction of exceptional individuals that shared the institute’s passion for promoting excellence in leadership and corporate governance.

Borodo said that 2025 was going to be a significant year for the institute as it continues to implement the various changes stipulated in CIoD Nigeria Establishment Act of 2023.

According to him, since the signing into law of the Act in May, 2023 by former President Muhammad Buhari, CIoD has been implementing governance, structural and administrative changes.

He said that in an era marked with shifting societal expectations, the role of directors had become even more critical.

The CIoD president said that as custodians of organisational strategy and governance, directors must navigate complex trade-offs and balance competing interests.

He urged them to always make informed decisions that prioritise both economic viability and social responsibility.

“Directors play a pivotal role in driving sustainable organisational growth by actively integrating Environmental, Social, and Governance (ESG) considerations into strategic decision-making.

“This goes beyond solely maximising profit to creating long-term value for all stakeholders, including employees, customers, communities, and the planet,” he said.

The News Agency of Nigeria (NAN) reports that CIoD inducted 210 new members at the event.(NAN)(www.nannews.ng)

Edited by Kadiri Abdulrahman

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