Regulatory Alerts2026-03-30
Added · Updated
CIS.S. 4.19 – Governance Standard for Collective Investment Schemes
NAMFISA issued Standard No. CIS.S.4.19 to mandate comprehensive governance frameworks for all regulated entities under the Financial Institutions and Markets Act, 2021. The standard requires boards to uphold ethical leadership, maintain balanced composition with independent directors and strict tenure limits, and implement robust conflict of interest, internal audit, and risk management protocols. It further obligates regulated entities to conduct annual performance evaluations, establish comprehensive governance policies, and exercise rigorous oversight of outsourced services to ensure prudent operations.
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