Regulatory Alerts2026-03-30
Added · Updated
NAMFIBA Governance Standard FM.S.3.10
NAMFIBA issued Standard FM.S.3.10 to establish comprehensive governance requirements for all regulated entities under the Financial Institutions and Markets Act, 2021. The standard mandates balanced board composition with independent directors, strict conflict of interest protocols, mandatory internal audit functions, and robust risk management frameworks. It further enforces director tenure limits, regular performance evaluations, and clear separation of oversight and operational duties to ensure ethical leadership and stakeholder protection.
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