News Flash

(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).

Legal Audit

The objectives of legal audit are to gather information about the company as well as evaluate and minimise the risks associated with a business transaction legally in order to make an informed decision. In addition, it is important for companies to conduct regular legal health checks/audits to ensure that their activities are in compliance with the applicable laws and regulations to avoid regulatory infractions.

The principal areas which would typically be covered in a legal audit are – share capital and shareholders; capacity of the seller; corporate structure; insurance; legal compliance; material contracts; litigation and disputes; financing; property; pension; labour and employment; tax; intellectual property rights; and data protection.

RUBYLEX LP offers legal audit services to companies for transactions involving Mergers & Acquisitions transactions in the above-mentioned areas. We also assist companies conduct regular health checks/audits to ensure compliance with the laws pertaining to their business operations.  

For your legal audit, feel free to contact us