As the proliferation of Internet of Things (IoT) devices grows, challenges in security, privacy, and interoperability become increasingly significant. IoT devices often have resource constraints, such as limited computational power, energy efficiency, bandwidth, and storage, making it difficult to implement advanced security measures. Additionally, the diversity of IoT devices creates vulnerabilities and threats that attackers can exploit, including spoofing, routing, man-in-the-middle, and denial-of-service. To address these evolving threats, Intrusion Detection Systems (IDSs) have become a vital solution. IDS actively monitors network traffic, analyzing incoming and outgoing data to detect potential security breaches, ensuring IoT systems remain safeguarded against malicious activity. This study introduces an IDS framework that integrates ensemble learning with rule induction for enhanced model explainability. We study the performance of five ensemble algorithms (Random Forest, AdaBoost, XGBoost, LightGBM, and CatBoost) for developing effective IDS for IoT. The results show that XGBoost outperformed the other ensemble algorithms on two publicly available datasets for intrusion detection. XGBoost achieved 99.91% accuracy and 99.88% AUC-ROC on the CIC-IDS2017 dataset, as well as 98.54% accuracy and 93.06% AUC-ROC on the CICIoT2023 dataset, respectively. We integrate model explainability to provide transparent IDS system using a rule induction method. The experimental results confirm the efficacy of the proposed approach for providing a lightweight, transparent, and trustworthy IDS system that supports security analysts, end-users, and different stakeholders when making decisions regarding intrusion and non-intrusion events.