Legal team size:   Three

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 organisation’s resilience? 

During periods of instability or crises, the legal function must ensure that management is aware of the Business Continuity Plan and implements it as required. The legal function may need to insource sensitive legal work and not rely wholly or substantially on external counsel. This will save cost and time. It is a time to test and retest legal/ contractual knowledge and assumptions. Nothing can be taken for granted. Also, clear and timely communication with internal and external stakeholders is very important. Documentation should be accurate and detailed. The legal strategy must support the business’s overall strategy and initiatives. It should seek to minimize legal, contractual, stakeholder and reputational risks based on geography, industry, and other relevant factors. The legal function should lead regulatory gap analysis on the business and where relevant “vendor due-diligence” type assessments on foreign subsidiaries. Management should also receive specific, relevant, and time-bound assessments on how changes in law and industry standards affect the business.

In your opinion, what are the main trends that are salient in your country currently?

The main trends that are salient in Nigeria are reforms (whether tax, economic, or energy), sustainability, and energy transition.  Nigerian companies are paying more attention to sustainability, driven by legal, regulatory, and investor requirements. The Companies and Allied Act requires a director to consider “the impact of the company’s operations on the environment in the community where it carries on business operations”. Recently, Nigeria passed the Climate Change Act which provides a framework “for achieving low greenhouse gas emission (GHG), inclusive green growth and sustainable economic development”. Nigeria is also an early adopter of IFRS S1 & S2 Sustainability Disclosure Standards. Corporate attention to sustainability will likely continue to gain momentum and remain the status quo as against a passing trend. Further, an estimated 86 million Nigerians have no access to electricity. Paradoxically, Nigeria has good renewable energy resources, sits on vast natural gas reserves, and consistently flares huge volumes of gas. Questions on energy security in the context of energy transition will continue to be relevant in Nigeria.

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

I am passionate about advancing sustainability and ESG considerations in infrastructure. By extension, this passion applies to causes that are advanced by sustainability including fighting climate change. Last year I wrote the article: “Mainstreaming ESG Considerations in Nigerian Companies – Legal and Policy Drivers”. I have also delivered various presentations on governance and sustainability. I hold a GARP Sustainability and Climate Risk certificate and I am a Fellow of the Chartered Governance Institute UK & Ireland.

Also, I am the Chair of CCLS Nigeria Chapter, the alumni body for postgraduate law students of the Queen Mary University of London. In this role, I have organised alumni events including reunions in Lagos and London, various panels/ roundtables, and a joint event with the Indonesian and Swiss chapters. Recently, the CCLS Nigeria Chapter was nominated for the “Chapter of the Year Award” at the inaugural CCLS Alumni Awards. In addition, I am a mentor in Queen Mary University of London’s Mentoring Programme, where I mentor a current postgraduate law student, from time to time.