Author Topic: Iod?s Income Hits N252.6m  (Read 119 times)

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Iod?s Income Hits N252.6m
« on: August 02, 2017, 04:26:07 AM »
The Institute of Directors Nigeria (IoD Nigeria) has  recorded N252.6 million as income in 2016.This was six per cent lower than N268.4 million in the previous year.

According to the Institute, current assets increased to N864.9 million, 13 per cent higher than N727 .6 million in 2015.

However, liabilities increased 13 per cent at N335.0 million from N331.9million in 2015.

Last year, its total assets increased to N1.09 billion from N994 million in 2015.

Its President/Chairman of Governing Council, Mr Samuel Yemi Akeju, described last year as the toughest the nation has had in over the quarter of the century.

According to him, the spike in inflation put a squeeze on productivity and the economic uncertainty had an effect on businesses.

Tthe International Monetary Fund (IMF) projected that the economy would contract last year.

Akeju  explained how the institute had grown in leaps, highlighting some its achievements, including the partnership with the Office of the Head of Civil Service of the Federation to train permanent secretaries, who served the country for over 30 years.

He said the institute partnered some organisations to promote best practices in corporate governance among businesses and institutions.

He explained that the institute sought to engage with stakeholders in implementation of corporate governance and recommendations of measures for strengthening the same.

According to him, the organisation is committed to the professional practice of corporate directorship and to raise the governance standards with private and public sectors.

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Iod?s Income Hits N252.6m
« on: August 02, 2017, 04:26:07 AM »

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