The Institute of Chartered Secretaries and Administrators of Nigeria has called for targeted and sustained investments in Nigeria’s media and creative sectors, stating that the industries hold significant potential to drive long-term economic development if properly structured.

Speaking at the ICSAN Public Lecture held in Lagos recently with the theme, ‘Driving Sustainable Development in Nigeria’s Creative and Media Industry’, ICSAN President, Funmi Ekundayo, emphasised the urgent need for corporate governance, accountability, and risk management to strengthen institutions in the creative space.

According to Ekundayo, the failure of many organisations within the industry stems from weak internal structures, poor transparency, and the absence of clear control systems. “Corporate governance is the instrument to save your company. If a company fails, it is due to a lack of accountability and transparency, and weak risk management,” she said.

She urged industry players to set up boards comprising individuals with experience and integrity, develop strong policies, establish internal audit functions, and define risk management frameworks. “No corporate governance system will work if it doesn’t have control systems,” she added.

Also speaking, the Chairman of Channels Media Group, John Momoh, noted that Nigeria’s creative economy is not only a vibrant cultural force but also a powerful engine of economic growth.

He stressed that transitioning from mere potential to sustainable impact would require deliberate investments from both the public and private sectors.

Momoh said, “We need to move from inspiration to institution and from momentary impact to sustainable growth. That means policies that protect intellectual property, incentivise innovation, and provide access to financing for startups and creatives.”

In his remarks, the Chairman of the Creative and Media Sectoral Group, Waheed Olagunju, highlighted the importance of education and talent development in building a resilient creative economy.

He maintained that strategic investments must go hand in hand with the training and empowerment of young Nigerians in media, design, animation, fashion, and related fields.

He said, “Without education and infrastructure—digital, legal, and educational—our creative ecosystem cannot thrive. We need to invest in the next generation of creators.”

The PUNCH reported that the Institute of Chartered Secretaries and Administrators of Nigeria has reaffirmed its commitment to integrating artificial intelligence into corporate governance frameworks as it prepares to host the 2025 Company Secretaries and Registrars Forum.