Mutual Benefits reaffirms strengthened governance framework, full regulatory compliance
Mutual Benefits Assurance Plc
Nike Popoola
Mutual Benefits Assurance Plc has allayed concerns arising from recent media reports referencing a sanction previously imposed by the Nigerian Exchange Limited (NGX) over delays in the filing of certain audited and unaudited financial statements.
The leading insurance company clarified that the matter relates to prior reporting periods and was 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 is 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.
Among the measures introduced are 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, upgraded compliance monitoring systems were deployed across finance and company secretariat functions to optimise regulatory tracking and reporting processes.
The Management of Mutual Benefits Assurance Plc further noted that investments have been made in technology, human capital and governance processes to support sustained operational transparency and regulatory adherence.
These reforms, the company stated, have significantly improved reporting efficiency and compliance discipline across the organisation, positioning it for continued stability and long-term growth.
Reaffirming its commitment to transparency and stakeholder confidence, Mutual Benefits Assurance Plc stated that it remains dedicated to the highest standards of corporate governance, accountability and regulatory compliance. The company added that it continues to operate from a position of financial and operational stability, focused on delivering sustainable value to shareholders, policyholders, business partners and the investing public.
The company also expressed appreciation to stakeholders for their continued confidence, while reiterating its unwavering commitment to sound corporate governance practices and full compliance with all regulatory requirements.
