Legal team size:   Six

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? 

Effective crisis management begins with proactive planning and preparedness. A key step in managing risks is assessing the kinds of legal risks the organization can potentially be exposed to and developing a comprehensive risk management/mitigation plan that can be easily deployed in the event that a crisis arises. Having a plan with a clear definition of roles and responsibilities ensures that the organization is ready to respond effectively when a crisis occurs.

It is also critical that the plan is dynamic, and capable of being modified to adapt to constantly evolving changes in the business environment and legal landscape.

For a legal strategy to be effective, it must be embedded within the overall corporate strategy. Whatever strategy is adopted must reflect the business goals and objectives of the organization, and its culture. To ensure this alignment, I ensure that there is active collaboration between the legal team and all business units and that I am actively engaged/involved in strategic decision making when the organization is responding to a crisis.  This helps to ensure that informed decisions are taken with a clear understanding of both their legal and business implications.

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

The main trends currently shaping Nigeria are multifaceted, spanning legal, political, economic, and business domains. Two that are particularly salient and likely to impact a business like ours are tax compliance and reforms, as well as economic diversification.

Nigeria is undergoing a significant overhaul of its tax system, necessitating a swift grasp of new regulations. The introduction of a centralized tax authority and technology-driven tax administration will make tax compliance more critical. As legal professionals, we will need to engage proactively, interpreting these laws accurately and potentially leading initiatives to ensure they foster an enabling environment for businesses.

Simultaneously, Nigeria’s ongoing economic diversification, with increasing focus on sectors like agriculture, fintech, and renewable energy, presents both opportunities and challenges. This shift calls for deeper exposure to the legal nuances of various industries and a commitment to ensuring sector-specific laws are well understood and applied. This evolving landscape opens doors for legal innovation and professional growth.

The overarching trend for Nigeria is one of change and growth. This dynamic period will make the practice of law both exciting and transformative, driving innovation in our field.