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(1) CBN orders closure of bank accounts of unregistered associations, churches, clubs, town unions, or foundations. These associations or societies must register with the Corporate Affairs Commission and provide their registration documents to the Banks to enable them run their account.    (2) SEC now requires Issuers to provide “No-Objection” letter from their primary regulators as a prerequisite for the Commission’s approval of proposed transactions.   (3) All CMOs are now required to submit their Audited Financial Statements electronically to, a dedicated email created by SEC, in a selectable and searchable PDF format (not exceeding 15MB).


We believe that one of the driver for a successful corporate governance implementation is the Board’s desire to conform, improve, and perform, which is best achieved through a thorough Board Evaluation process.

Board assessments are a critical part of driving continuous improvement in board performance. A well-executed assessment can help provide real insights into how a board operates and how directors work with one another

Our Board evaluation service would entail and ensure alignment with global best practices.

  1. Compliance with legal requirements – the Nigerian Code of Corporate Governance 2018 and the SEC Corporate Governance Guideline and sector-specific codes of corporate governance
  2. Aid in improvement of leadership and performance through accountability, improved decision making etc. by having the right-minded people on the Board


At Rubylex LP, we would assist in the evaluation process, providing guidance for an approach that is efficient, constructive, confidential and implemented fairly, as planned.

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