In accordance with Section 275(1) of the Companies and Allied Matters Act (CAMA) 2020, what is the minimum statutory requirement for the number of independent directors in a public company?

Section 275(1) of CAMA 2020 introduces a mandatory requirement that every public company must have at least three independent directors. An independent director is defined as one who, among other criteria, has not been an employee of the company within the preceding five years.