Mutual Benefits Assures Public of Governance Framework, Regulatory Compliance

Ebere Nwoji

Mutual Benefits Assurance Plc, has assured the public that it has resolved every issue relating to recent media reports on purported sanction previously imposed by the Nigerian Exchange Limited (NGX) on the company over delays in the filing of certain audited and unaudited financial statements.

The underwriting firm stated that the matter has been fully resolved in accordance with NGX regulatory procedures at the time. It confirmed that all outstanding filings have since been regularised and that the company was fully compliant with NGX listing rules and reporting obligations.

According to the company, following the occurrence of the referenced delays, it undertook a comprehensive review of its governance, reporting and compliance frameworks, leading to the implementation of strengthened internal controls and oversight structures.

It said among  the measures introduced were enhanced financial reporting architecture, including stricter internal timelines, improved cross-functional coordination and strengthened review protocols to ensure timely and accurate disclosures.

Mutual Benefits also reinforced board oversight through its Audit and Risk Committees, establishing clearer accountability frameworks and structured periodic compliance reviews. In addition, it said upgraded compliance monitoring systems were deployed across finance and company secretariat functions to optimise regulatory tracking and reporting processes. The Management of Mutual Benefits further noted that investments have been made in technology, human capital and governance processes to support sustained operational transparency and regulatory adherence. It said these reforms have significantly improved reporting efficiency and compliance discipline across the organisation, positioning it for continued stability and long-term growth.