Career Biography

Benedict Oluba is a governance, risk, and compliance–focused legal executive known for building legal and regulatory frameworks that enable regulated and technology-driven businesses to scale confidently and sustainably. He partners with boards and senior leadership to shape governance, regulatory strategy, data protection, and enterprise risk management system that position compliance as a driver of growth and resilience.

His career spans banking, governance consulting, and digital payments, where he has built end-to-end legal and compliance architectures, led regulatory remediation and licensing, strengthened board governance, and supported corporate restructuring and expansion across regulated environments.

Benedict serves as Company Secretary and Head of Legal at Sidmach Technologies Nigeria Limited, advising the Board and executive management on governance, strategic partnerships, market expansion, data protection, intellectual property, and legal and regulatory risk within a technology- intensive environment. He also mentors compliance professionals and leads executive training on privacy, regulatory compliance, AML/CFT/CPF, regulatory reporting, and enterprise risk management.

He holds professional affiliations and certifications across governance, arbitration, compliance, cybersecurity, and data privacy, including Associate membership of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), membership of the Chartered Institute of Arbitrators (UK), the Designate Compliance Professional credential from the Compliance Institute, Nigeria, Certified in Cybersecurity (ISC²), and Certified Information Privacy Professional/Europe (CIPP/E) by the International Association of Privacy Professionals (IAPP).

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

The most significant matters my legal team has handled recently reflect a focus on governance, regulatory compliance, legal risk management, and dispute prevention within a complex public-sector-facing operating environment. A major area of focus has been the management of key institutional client relationships with national impact, including WAEC, NYSC, and JAMB, where legal oversight is critical to continuity, compliance, and reputational protection.

As Sidmach Technologies expands beyond Nigeria, the legal team actively advises on cross-border legal and regulatory compliance. This includes supporting an East African expansion initiative, beginning with a partnership project involving the Kenya National Examinations Council. My role has involved advising on jurisdiction-specific regulatory obligations, contracting frameworks, data privacy considerations, and governance controls to ensure compliance while enabling efficient market entry.

Internally, I supervise and lead the legal workstreams for a corporate restructuring exercise, encompassing a capital raise and board restructuring.

This includes board advisory, regulatory filings, governance framework updates, and alignment with investor and regulatory expectations.

The legal team also supported the negotiation, contracting, and implementation of the World Bank Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) Project in Nigeria, in partnership with JMTech Centre and the Ministry of Education. This required compliance with World Bank contractual standards, careful management of risk allocation, and monitoring of performance obligations.

Since I assumed leadership of the legal function, the Company has recorded no litigation, no active disputes, and no pending court matters, despite over three decades of operations, an extensive client portfolio, and delivery of nationally impactful services. This reflects a proactive, prevention-focused legal strategy embedded within business operations.

How is your legal team navigating Nigeria’s evolving regulatory compliance requirements, particularly under CAMA 2020, ISA 2025, and Central Bank directives?

Our legal team maintains an active, forward-looking compliance and legal risk management function to navigate Nigeria’s evolving regulatory landscape. We continuously monitor statutory updates and regulatory directives, conduct internal audits, and develop tailored, company-specific compliance frameworks. Under CAMA 2020, we advise on corporate structure, governance requirements, corporate practices, statutory filings, and reporting obligations.

While my current employer is not regulated by the Central Bank of Nigeria, I oversee the compliance functions of two CBN-regulated entities. In this capacity, I ensure compliance with applicable regulatory frameworks, including BOFIA, the CBN AML/CFT/CPF Regulations 2022, licensing requirements, the FRCN Act, the NFIU Act 2018, the Nigeria Data Protection Act, various CBN directives, and relevant codes of corporate governance. I design, update and implement comprehensive compliance programmes, including compliance matrices incorporating risk assessments and structured compliance schedules, adopting a preventive, risk-avoidance approach that prioritises mitigation over reactive impact management.

My extensive exposure to regulatory compliance audits and compliance consultancy for regulated entities enables me to advise effectively on commercial engagements and transactions with regulatory implications. This expertise is actively applied to strategic initiatives such as the ongoing corporate restructuring of Sidmach Technologies and the facilitation of investment by a foreign entity, ensuring regulatory alignment while supporting commercial objectives. By embedding compliance within business operations and delivering targeted training and advisory support across functions, we enable informed, efficient decision-making across key projects.

What strategies has your legal team adopted to manage disputes and

mitigate risks in Nigeria’s dynamic business environment?

Our dispute management strategy is anchored on risk avoidance, proactive engagement, and relationship management, with litigation treated strictly as a last resort. We maintain active engagement with clients, service providers, third-party partners, and regulators to identify and address issues early, before they escalate into disputes.

We ensure that contractual arrangements clearly reflect the company’s risk- avoidance posture through robust due diligence, balanced risk allocation, and continuous contract monitoring. Equally important is close collaboration with internal process owners to align legal obligations with operational delivery, promote service excellence, and reduce dispute triggers.

Where issues arise, we deploy structured escalation mechanisms and prioritise commercial dialogue, negotiation, and alternative dispute resolution. Through periodic legal and compliance audits and the integration of preventive legal controls into business operations, we have maintained minimal dispute exposure and no active litigation. This prevention-focused approach supports business continuity, protects relationships, and safeguards the company’s reputation in Nigeria’s dynamic business environment.

How do you advise on cross-border transactions and foreign investment, given Nigeria’s complex regulatory and dispute resolution landscape?

In advising on cross-border transactions and foreign investment, I adopt an enhanced due diligence and risk-mapping approach. Each transaction begins with a comprehensive regulatory and compliance audit to identify applicable regulatory, licensing, approval, certification, and data protection requirements. This is followed by an extensive due diligence on counterparty, including their AML/CFT/CPF frameworks, services and products, key partners, sanctions of exposure, regulatory history, prior violations, and the background of key officers and beneficial owners. This assessment extends to the counterparty’s operational and reputational risk profile and its alignment with applicable international and local regulatory standards.

Beyond counterparty risk, I analyse jurisdiction-specific legal and institutional frameworks, cross-border data transfer and privacy obligations, geopolitical considerations, and potential regulatory or enforcement sensitivities. Risks are categorised and mitigation strategies developed to protect the company’s interests while supporting commercial objectives. This approach allows me to structure transactions that are strategically sound.