Team size: Six; 

Career Biography

Ayokunle is an HR expert, lawyer, chartered secretary, chartered tax professional, certified management consultant, certified compliance analyst, certified independent non-executive director, and notary public.

He worked with FirstBank and FBN Holdco PLC, where he served as Company Secretary for FBN Insurance Limited (now SanlamAllianz Insurance Limited), FBN General Insurance Limited (now SanlamAllianz General Insurance Limited), and FBN Insurance Brokers Limited, all subsidiaries of FBN Holdco PLC. He also served as Company Secretary/Legal Adviser to Berger Paints Plc and Company Secretary/General Counsel for International Breweries Plc (AB InBev) between 2018 and 2023. He is currently the Group Company Secretary/Head of Legal and Chief Compliance Officer at the CFAO Nigeria Group – a French multinational.

He is also co-founder and Non-Executive Director of Kaizen Academy (Nigeria) Limited, a leading multinational consulting firm.

Ayokunle holds a 2nd Class Upper L.L.B (Hons) degree from the University of Ibadan, an MBA from Liverpool John Moores University (UK), and an LLM from the University of South Wales (UK). He also holds an Executive Diploma in International Law & Diplomacy from Kingsland Foundation, and a Certificate in Global Governance & Diplomacy from the European School for Leadership Development.

His work has earned global recognition, including the Fast-Rising Star Award by ESQ Magazine, the Modern Governance 100 Global Ethics Leader Award (2019–2022, Diligent Corporation, New York), and listings in the Legal 500 General Counsel Powerlist Nigeria for 2024 and 2025. He was recently honoured as ‘Finest General Counsel – West Africa’ by Legal Era Awards and won the 2025 Corporate Governance Award by the Society for Corporate Governance Nigeria.

Ayokunle holds fellowships from the Institute of Management Consultants, Nigeria (FIMC), and the Global Academy of Finance and Management, USA. He is a member of the Nigerian Bar Association (NBA), International Bar Association, Institute of Chartered Secretaries and Administrators (ICSAN), Society for Corporate Governance Nigeria (SCGN), and the Chartered Institute of Directors (CIoD), Nigeria.

What are the most significant cases or transactions that your legal team has recently been involved in?

Recently, Ayokunle led the legal team to successfully challenge a case of regulatory overreach, resulting in a landmark judgment. Massilia Motors, a subsidiary of CFAO Nigeria Limited, successfully challenged the regulatory authority of the Advertising Regulatory Council of Nigeria (ARCON) over outdoor advertising.

The Case: Massilia Motors Ltd. v. ARCON:

The Federal High Court in Lagos delivered a judgment on 7 November 2025, declaring several sections of the ARCON Act 2022 unconstitutional. Massilia Motors, the sole distributor of Mitsubishi vehicles in Nigeria, challenged ARCON’s authority. ARCON is the body responsible for regulating Nigeria’s advertising industry.

Key Points of the Court Ruling:

Massilia Motors challenged a violation notice and criminal summons from ARCON regarding an outdoor signage installed without ARCON’s approval, arguing that it had been approved by the Lagos State Signage and Advertising Agency (LASAA). The court ruled that the power to regulate outdoor advertising and hoardings belongs exclusively to Local Government Councils under the Nigerian Constitution. Sections 8(a), S(f), P, Q, and 54 of the ARCON Act 2022, which granted ARCON regulatory power over outdoor advertising, were deemed invalid. ARCON’s notice of violation and summons against Massilia Motors were declared unlawful.

Significance:

This judgment clarifies ARCON’s limited regulatory scope, confirming that it cannot regulate outdoor media, which falls under the authority of local government councils.

er local government jurisdiction. ARCON has expressed disagreement with the ruling. 

What role does corporate counsel play in strengthening corporate governance in light of Nigeria’s recent reforms and stakeholder expectations? 

The role of the modern general counsel in Nigeria is pivotal, acting as the key architect of corporate resilience and turning complex reforms into strategic advantages. They start off as the go-to expert for navigating a constantly changing regulatory landscape, going beyond just the text of CAMA 2020 and the NCCG 2018’s “apply and explain” doctrine. They breathe life into these regulations, embedding their essence into the corporate culture. This involves transforming legal statutes into practical governance frameworks that ensure compliance is more than just a box to tick. Their guidance elevates them to a vital strategic partner at the highest levels, advising the board on the intricate execution of fiduciary duties while crafting a comprehensive risk management approach that addresses legal, reputational and ESG risks. They take the lead in building a strong integrity framework—creating effective ethics programmes, whistleblower systems and managing sensitive investigations—to protect the corporation’s ethical foundation.

Moreover, they serve as the crucial link between shareholder value and the accountability owed to a wider range of stakeholders. They develop sophisticated methods for engaging stakeholders and weave credible ESG principles into the business strategy, ensuring the company navigates the landscape of sustainable finance with genuine intent, steering clear of greenwashing. As champions of transparency, they ensure that all disclosures are accurate and act as neutral mediators in governance disputes. Ultimately, their most significant contribution lies in fostering a culture of compliance, setting the “tone from the top” through ongoing education and clear communication. In a world of overlapping regulations and strict enforcement, this role requires a delicate balance: being both a facilitator of business and an independent gatekeeper. The ideal general counsel thus becomes the linchpin, transforming governance from a mere obligation into a cornerstone of institutional trust, market credibility and lasting value.

How is your legal team navigating Nigeria’s evolving regulatory compliance requirements, 

particularly under CAMA 2020, ISA 2025, and Central Bank directives? 

My legal and compliance team takes on Nigeria’s ever-changing regulatory landscape with a proactive and integrated approach. We ensure that intricate corporate, tax and commercial reforms are woven seamlessly into our daily operations. Our goal is to turn compliance from merely a legal requirement into a cornerstone of our business integrity and operational strength. We begin with a structured interpretation and impact analysis. For every major reform—such as the Companies and Allied Matters Act (CAMA) 2020, annual Finance Acts, new tax laws, and the latest Corporate Affairs Commission (CAC) regulations—we conduct a thorough review. This is not just about reading the law; it is about understanding how it practically impacts our automotive business, from our corporate structure and supply chain contracts to our treasury and retail finance operations. This forward-thinking analysis helps us identify risks, prepare for necessary changes, and provide clear, confident advice to our leadership. We believe that effective compliance should be woven into the fabric of our operations, rather than confined to administrative silos. We take legal requirements and translate them into straightforward business processes.

The governance improvements under CAMA 2020 are integrated into our Board charters and committee workflows. New tax responsibilities arising from the Finance Acts are directly incorporated into our accounting and procurement systems. This way, compliance becomes a shared responsibility, owned by the business units that handle these processes every day, while my team provides central oversight and guidance.

To navigate this complex landscape, we have strong monitoring and communication systems in place. We maintain a compliance calendar and dashboard that tracks all filing deadlines, reporting requirements, and policy review cycles. We also provide regular, concise updates to the Board and Executive Management regarding regulatory changes and our compliance status. In addition, we implement targeted training programmes for relevant staff, ensuring that our finance, procurement, and administrative teams are well versed in the latest requirements.

To fully understand how things work, it is essential to comprehend the rules that guide their functions. When we encounter regulatory provisions that are unclear or overly complicated, we take a thoughtful approach to advocacy. We collaborate with industry groups such as the Manufacturers Association of Nigeria (MAN) and the Nigerian Employers Consultative Association (NECA) to present a united and practical viewpoint to policymakers. This collaboration enables us to play a role in shaping sensible regulations while keeping our internal stance cautious and fully protective of the company. Ultimately, our goal is to be strategic enablers.

By ensuring meticulous compliance with corporate, tax, and commercial laws, we do more than merely avoid penalties. We enhance CFAO Nigeria’s reputation as a transparent, stable, and ethically governed partner. This not only strengthens our relationships with regulators but also builds trust with our customers and joint-venture partners, paving the way for sustainable growth in the Nigerian market.