Legal team size : 10
Major legal advisers/external counsel: G Elias

How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organization’s resilience?

Our approach is preemptive, as we have a risk champion in the legal department who assesses, on a monthly basis, the legal risks that could materialize across all business units of the group. The Legal Risk Champion is also a member of the Business Continuity Plan Committee. All conceivable business-related risks are regularly evaluated, and the necessary legal mitigation strategies are outlined, ready to be activated when needed. This approach and structure are particularly useful during contract negotiations and reviews, as adequate protective clauses are incorporated into our contracts.

Secondly, the legal team monitors compliance with all applicable laws and regulations during crises. We also review and manage contracts to ensure that the organization’s contractual obligations are fulfilled. This process typically involves negotiating amendments, addressing breaches, and effectively managing disputes involving suppliers, customers, and other stakeholders. Notably, I always ensure that all company agreements include an expansive force majeure clause with clearly defined actions in the event of such occurrences. These actions include notification to or from the counterparty, sufficient timelines to remedy the situation, and opportunities to source alternative products or services from third parties.

It is imperative to state that the legal strategy is an integral part of the broader business strategy of the group. All business strategies and decisions must pass through the legal lens to ensure the company’s continued viability within allowable legal requirements. To further align legal and business strategies, I establish regular communication channels between the legal team, crisis management teams, and all other affected units. This ensures that legal considerations are factored into decision-making processes and that the organisation is fully prepared to address legal challenges as they arise.

In your opinion, what are the main trends that are salient in your country currently (these can be legal, political, economic, or business-based)?

The major issues include the liberalization of the FX market and the resulting FX volatility, the economic impact of the continuous increase in fuel prices, spiraling food inflation, and the ongoing insecurity challenges in the northern part of the country. Also noteworthy is the ever-increasing cost of sales and operations for manufacturers and business owners.

Are there any causes, business or otherwise, you are passionate about?

I am particularly passionate about humanitarian causes in Nigeria and across the African continent. These include:

Combating violence against women and girls, who remain at high risk in Africa.
Addressing food insecurity across the continent.
Fostering climate change efforts within Africa.
Ensuring accessible and equitable education for underprivileged communities.