Team Size: 40 – 50

What are the most significant cases or transactions that your legal team has recently been involved in?

The legal team advised the bank, prepared the requisite agreements and was actively involved in obtaining regulatory approvals concerning the transaction entered into with The African Continental Free Trade Area (AfCFTA) Secretariat to develop a Smart AfCFTA, a digital platform designed to facilitate international trade by providing information and tools to the African private and public sectors. Zenith is the first institution to enter this innovative relationship with the AfCFTA. We worked closely with our external solicitors and spearheaded the negotiation and drafting of the legal documentation for the development of bespoke software and solutions for the bank by Oracle and Calypso to revamp the bank’s entire information technology architecture by creating a pool of the most efficient software for banking operations, to re-position the bank as the numero uno in driving the adoption of modern banking and financial services technology in the Nigerian banking sector. The system is currently coming on stream in phases.

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

I spearheaded a transformative shift within the organisation by championing the internal drafting of various legal documents, encompassing fintech agreements, tech agreements, and general finance agreements. This strategic move extended to delivering comprehensive legal briefs to external legal solicitors, spanning credit and litigation matters. This is done within the limits allowed by the legal profession’s rules. This departure from the conventional practice of wholesale outsourcing has substantially improved the proficiency of our in-house counsel, reduced expenditures associated with legal briefs and provided favourable outcomes in most of our litigation cases. Additionally, in line with the bank’s operational strategies- technology, service, and people, I have introduced technological innovations aimed at automating the management of security and facility documentation and contingent liabilities within the bank. Through a streamlined workflow process, various departments can initiate requests for documentation or updates, contributing to a more seamless and efficient operational framework for delivering quality services to our customers.

As a general counsel, how do you anticipate and prepare for potential legal and regulatory challenges that may arise, particularly in light of emerging technologies and evolving business landscapes?

I remain well-informed about current industry trends and legislative and fintech advancements. I also actively participate in forums organised or facilitated by regulators and relevant professional bodies. These crucial sources provide invaluable prompts and facilitate proactive adaptation to changes in the legal and financial landscape. Accordingly, I review new regulations, advise the board and management team and follow up to ensure the implementation of applicable regulatory provisions bank-wide. I further facilitate training sessions for management staff as may be required to ensure team compliance. This has enabled the bank to avoid sanctions from regulatory authorities and to stay well ahead in the industry.

How important is choosing to work with external lawyers who align with your company’s values?

Our external counsel are our partners in meeting the bank’s legal objectives, expectations and goals. We are fully informed of the bank’s management objectives, standards, operations, and procedures. Therefore, we partner with our external counsel to ensure that the cards, processes, and operations are well-aligned and represented legally to ensure all-around, all-encompassing regulatory compliance. Against the above backdrop, our solicitors are selected through a careful and rigorous process that prioritises their ability to maintain confidentiality, professionalism, integrity, loyalty, data protection, and excellent service. We also review our retained solicitors list routinely to ensure these core values are maintained since they represent an extension of the bank’s sales partners.