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SEC Bans CEOs From Becoming Chairmen Without 3-year Break

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The Securities and Exchange Commission has issued a new directive prohibiting Chief Executive Officers and Executive Directors from immediately assuming the position of Board Chairman within the same company or group after leaving office.

A mandatory three-year “cool off period” has been introduced before such transitions can take place.

The directive is part of a wider effort to strengthen corporate governance and prevent the concentration of power in public companies and capital market operators deemed to be of significant public interest.

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This was disclosed in a circular released by the Commission and signed by the management on Thursday on its website titled “Circular to All Public Companies and Capital Market Operators on the Transmutation of Independent Non-Executive Directors and Tenure of Directors.”

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The SEC expressed concern over what it described as a “worrying trend of the transmutation/conversion of Independent Non-Executive Directors (INEDs) to Executive Directors, including to the position of the Chief Executive Officer.”

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It warned that such practices undermine board independence.

The Circular reads,”This practice clearly erodes the neutrality of the transmuting INEDs, compromises their ability going forward to provide objective judgment and is generally antithetical to the principles which underpin independent directorship as outlined in both the National Code of Corporate Governance (NCCG) as well as the SEC Corporate Governance Guidelines (SCGG).”

As a result, the Commission has directed the immediate discontinuance of the conversion of INEDs into Executive Directors within the same company or group structure.

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The new rules also introduce strict tenure limits. Directors in Capital Market Operators considered to be of significant public interest will now be limited to 10 consecutive years in the same company, and 12 years within the same group structure.

“A Chief Executive Officer or Executive Director who steps down after 10 or 12 consecutive years, as the case may be, cannot be appointed as Chairman until the expiration of a 3-year ‘cool off period’.

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“The tenure of such former Chief Executive Officer and Executive Director as Chairman shall be for a maximum of 4 years and no more.”

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The SEC said these changes are backed by its powers under Section 355(r)(iv) of the Investments and Securities Act (ISA) 2025, which authorises it to set governance standards for regulated entities.

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The foregoing directives take immediate effect and compliance is mandatory. Public Companies and Capital Market Operators are therefore required to take the directives into account in their board appointments and succession planning,” the statement added.

The Commission also clarified that years already served by current officeholders will count toward the newly established tenure caps.

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Eating Takeout Food Often May Increase Heart Disease Risk — Study

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Research suggests that higher takeout food consumption may increase a person’s risk of cardiovascular disease, like heart disease.

In a new study, published in Food Science & Nutrition, researchers said eating takeout food too often can influence systemic inflammation that underlies much cardiovascular disease.

The study of over eight thousand people in the 2009 to 2018 U.S. National Health and Nutrition Examination Survey (NHANES) found that those who eat greater amounts of takeout food are likely to have various elevated risk factors for heart disease.

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They were interviewed in their homes and also visited a mobile examination centre, where they recalled their food intake, received cardiometabolic health assessments, and had blood collected.

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Mammograms may predict heart disease risk in women — Study

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The researchers found a correlation between the amount of takeout food a person consumes and their likelihood of developing chronic low-level inflammation, a key driver of cardiovascular pathology.

Deaths from cardiovascular disease and the consumption of takeout foods are both on the rise, and while that does not prove a causal relationship, the study explores whether there is a connection between the two.

The study tracked degrees of systemic inflammation according to the Dietary Inflammatory Index (DII), a scale that quantifies the risk of inflammation related to the intake of specific dietary substances.

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The three major takeaways from the analysis included that a higher level of takeout food consumption corresponded to an unfavourable cardiometabolic profile consisting of lower HDL, as well as higher triglycerides, fasting glucose, serum insulin, and insulin resistance.

Jayne Morgan, MD, cardiologist and Vice President of Medical Affairs in a reaction, who was not involved in the study, explained that “Takeout food raises the cardiovascular risk not because of one ingredient, but because of a predictable combination of nutrients, additives, and preparation methods that adversely affect blood pressure, lipids, insulin sensitivity, inflammation, and endothelial function.”

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This includes excess sodium that increases blood volume and blood vessel stiffness, and unhealthy fats, usually saturated fats or trans fats, that increase cholesterol level and atherosclerosis, a condition that can lead to heart attack and stroke.”

Michelle Routhenstein, Preventive Cardiology Dietitian at Entirely Nourished, also not involved in this study, declared, “It is also important to recognise that frequent takeout use often reflects broader lifestyle pressures such as demanding schedules, limited access to cooking resources, irregular meals, and disrupted sleep, all of which can quietly compound cardiovascular risk.”

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How To Identify Fake Kiss Condoms In Circulation

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The National Agency for Food and Drug Administration and Control (NAFDAC) has recently warned Nigerians about the circulation of counterfeit Kiss brand condoms in major markets across the country.

Contents
Original DKT Kiss condoms
Fake Kiss condoms

In a public alert published on its website recently and referenced as Public Alert No. 042/2025, the agency said the warning followed information received from DKT International Nigeria, a non-governmental organisation involved in contraceptive social marketing and HIV/AIDS prevention.

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NAFDAC stated, “The National Agency for Food and Drug Administration and Control is notifying the public about the sale and distribution of fake Kiss condoms in various Nigerian markets.

“The information was received from the MAH-DKT International Nigeria, a leading non-governmental organisation focused on contraceptive social marketing. Its mission is to provide Nigerians with affordable and safe options for family planning and HIV/AIDS prevention.

“The fake Kiss condoms have been reported to be found in Onitsha Market, Idumota Market, Trade Fair Market, and various markets in Kano, Abuja, Uyo, Gombe, Enugu, and others.”

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Kiss condom is a brand of male latex condoms designed to offer sexual protection, including the prevention of unwanted pregnancy and sexually transmitted infections such as HIV, gonorrhoea and syphilis.

To help consumers avoid counterfeit products, NAFDAC outlined key differences between original and fake Kiss condoms.

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Original DKT Kiss condoms
The original product comes in a light red box pack with clear instructions printed on the lower part of the pack, including single-use warnings and storage and caution information. The box contains detailed medical device information, including MDSS GmbH, Germany, and a complete Nigerian address at Isolo Industrial Layout, Oshodi-Apapa Expressway.

The condom pack is light red, with the word “Kiss” closely written on six lines. The wallet outer pack is lighter red, carries the Oshodi-Apapa address, manufacturer details, and a clear product description beside the condom image. The hidden flap includes revision dates, medical device details, and caution information, while the wallet inner contains detailed instructions and eight bullet points under important notes.

READ ALSO:Lagos Names Mandy Kiss Anti-drug Abuse Ambassador

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The original condom is large, oval-shaped, well-lubricated, and has a large teat end for semen collection.

Fake Kiss condoms
In contrast, fake Kiss condoms come in darker-coloured box packs with little or no additional information. Some boxes are plain white inside and lack condom images. The address is wrongly listed as 42, Montgomery Road, Yaba, Lagos, while the manufacturer’s address is incomplete or missing. Storage and caution information is absent.

The condom pack is darker, with “Kiss” loosely written on five lines and wide spacing. The condom strip is longer than the original. The wallet outer pack is also darker red, carries incorrect or missing addresses, lacks colour wave designs, and shows inconsistencies in barcode lines. Medical device and caution information are missing, and the hidden flap contains no details.

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Inside the wallet, information is summarised with only six bullet points. The fake condom is thinner, round-shaped, less lubricated, and has a smaller teat end.
(TRIBUNE)

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Lagos: Police Arrest 14 Suspected Traffic Robbers On Lekki-Epe Expressway

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Fourteen persons suspected to be involved in traffic-related robbery have been arrested at various points along the Lekki-Epe Expressway in Lagos over the past two weeks.

The arrests were confirmed on Tuesday by the Lagos State Police Command spokesperson, SP Abimbola Adebisi, via a post on her official X handle, @AbimbolaShotayo.

According to her, operatives of the Command’s Tactical Squad based in Elemoro carried out the operations that led to the suspects’ apprehension.

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She explained that the arrests followed sustained patrols and intelligence-driven operations aimed at curbing criminal activities associated with traffic congestion and improving the safety of motorists and other road users along the busy corridor.

Adebisi noted that the development reflects the Command’s determination to strengthen security and uphold law and order on the Lekki-Epe axis, adding that the Tactical Squad has continued to proactively identify crime-prone areas and respond swiftly to threats posed by criminal elements.

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She called on residents and commuters to support police efforts by providing timely and credible information that could assist in preventing and detecting crime.

READ ALSO:VIDEO: Chaos As Last-minute Shoppers Overwhelm Lagos Balogun Market

Security is a shared responsibility. Members of the public are encouraged to stay alert and promptly report any suspicious movements or activities to the nearest police station,” she said.

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The police spokesperson further reassured residents and road users of the Command’s commitment to maintaining aggressive patrols and security operations to protect lives and property in the area.

She reiterated the Command’s community policing message, “See Something, Say Something,” stressing the importance of cooperation between the police and the public in sustaining peace and security.

 

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