Omobola Johnson, former Minister of Communication Technology, has looked at the future of governance in the digital era and tasked company boards to ensure that AI is deployed in a way that aligns with the organisation’s values, mitigates risks, and complies with relevant regulations and ethical standards.
Johnson, a Senior Partner with TLcom Capital, made the call Wednesday in Lagos at the Investiture of Uto Ukpanah, the company Secretary of MTN Nigeria Communications Plc, as the 30th President of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).
She said corporate boards must ensure the ethical use of AI and ensure appropriate safeguards are in place. “ It is clear that if AI is going to play a central role in our future, then how we manage it must be just as sophisticated as the technology itself”
While noting that Artificial intelligence is, regardless of concept, research, or science fiction, it is now reshaping how we work, live, Johnson said organisations must have more vigilant boards and an appropriate AI governance structure to identify and mitigate possible risks during use.
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According to her, AI is transforming industries, sectors, and organisations at an unprecedented pace.
Quoting research by Goldman Sachs, she said in 2023, the advances in AI alone could lead to a 7% increase in global GDP over a decade, and a 1.5% increase in productivity over the same period of time. She also noted McKinsey’s 2025 Global AI Survey reports that 78% of organisations are now using AI in at least one business function.
However, she said, while AI has shown increased efficiency, productivity, and innovation, it also raises serious concerns around ethics, legal compliance, and workforce integration. “Globally, hundreds of millions of jobs are at risk of automation, and in 2023, Goldman Sachs again reported this to be about 300 billion full-time jobs. AI presents numerous challenges beyond the loss of jobs”.
She urged boards to educate themselves about AI, update their practices, and proactively manage the risks associated with AI. “AI can only fulfil its promise of efficiency and effectiveness if it is paired with strong governance”, she said
Funmi Ekundayo, in her valedictory speech as immediate past President of ICSAN, said the tremendous privilege to serve as president had been humbling and uplifting, challenging and transformative.
She listed some of her administration’s achievements to include the promotion of corporate governance in the public and private sectors and the strengthening of partnerships with regulatory authorities.
She added that the institute began the building of its national secretariat during her tenure, secured linkage agreements with reputable institutions, enhanced publicity projections and a host of others.
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In her acceptance speech, Ukpanah, a legal practitioner and chartered secretary, said that her tenure will amplify existing initiatives while exploring new terrains that challenge comfort zones and awaken the latent potentials of the community.
“We will prioritise continuity, but we will also innovate, preserve heritage, yet remain receptive to disruption.
“With a deep feeling of humility and a remarkable sense of purpose, I hereby formally accept the mantle of leadership as the 30th President and Chairman of the Governing Council of ICSAN for the next two years,” she said.
Representatives of Lagos and Akwa Ibom state governors, captains of industry, including Ernest Ndukwe, Chairman of MTN; Mohammed Sanusi, Emir of Kano; Hakeem Belo Osagie, a prominent figure in the Nigerian business landscape; Francis Olawale, ICSAN Vice President, and other top stakeholders of the business community graced the occasion.
