Mutual Benefit Assurance Reaffirms Governance Compliance

Mutual Benefit Assurance Plc, represented by Eber Nwoji, has assured the public regarding its governance framework and regulatory compliance in light of recent media reports suggesting sanctions imposed by the Nigerian Exchange (NGX). The company confirmed that it is addressing delays in filing certain audit and unaudited financial statements, stating that the matter will be fully resolved in accordance with NGX regulatory procedures.

Mutual Benefit emphasized its commitment to being compliant with NGX listing rules and reporting obligations. The company has undertaken a comprehensive review of its governance and compliance framework, which has led to the implementation of strengthened internal controls and oversight structures.

Measures introduced include enhanced financial reporting architecture, stricter internal timelines, improved cross-functional coordination, and a reinforced board oversight through its audit and risk committee. Additionally, Mutual Benefit has upgraded its compliance monitoring system and made investments in technology and human capital to support sustainable operations and regulatory adherence, significantly improving reporting efficiency and compliance discipline across the organization.