Companies Income Tax in Nigeria

Two key regulators and a governance code now require Nigerian Boards to formally demonstrate that their performance is periodically evaluated. PML Professional Services delivers independent, evidence-based Board Evaluations that meet regulatory expectations and are fully prepared for statutory reporting and regulatory submission. NCCG NIGERIAN CODE OF CORPORATE GOVERNANCE Sector covered: All public companies, public-interest private companies and regulated private entities. Requirement: Annual internal board evaluation plus an independent external evaluation at least once every 3 years, with outcomes disclosed as part of the Annual Corporate Governance Report. CBN CENTRAL BANK OF NIGERIA Sector covered: Banks and other CBN-licensed financial institutions. Requirement: Annual evaluation of the board, its committees and individual directors by an independent external consultant. Submission: External consultants must submit the Annual Board Evaluation Report to the Director, FPRD, CBN by May 31 (following the financial year-end) or before the Annual General Meeting, whichever comes first. FRCN FINANCIAL REPORTING COUNCIL OF NIGERIA – CORPORATE GOVERNANCE Sector covered: Every entity subject to the NCCG, across all industries. Requirement: Annual assessment of compliance with the NCCG. Submission: Eligible entities must submit their Corporate Governance Compliance Report through FRCN's reporting portal within three months after the financial year-end. HOW PML DELIVERS YOUR EVALUATION •  Independent Board, committee & Director appraisal •  Skills matrix & Board composition review •  NCCG, CBN & FRCN compliance reporting •  Practical, board-ready improvement roadmap Book your board's evaluation before your next AGM

For More Enquiries, Please Contact: Adeola Adesanya Partner, PML Professional Services aadesanya@pml.com.ng · +234 803 849 9321