SEC blocks independent directors from becoming executive directors

[NigerianEye - Nigeria] - 21/06/2025
The Securities and Exchange Commission (SEC) has banned the conversion of Independent Non-Executive Directors (INEDs) into Executive Directors within the same company or corporate group.This is part of the SEC’s efforts to tighten corporate governance standards in Nigeria’s capital market.In a circular titled “Circular to All Public Companies and Capital Market Operators on the Transmutation of Independent Non-Executive Directors and Tenure of Directors”, the Commission stated that the practice compromises board independence and erodes the objective oversight that independent directors are (…)
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