PZ Cussons Nigeria Plc Files 2025 Corporate Governance Compliance Report

PZ Cussons Nigeria Plc has submitted its 2025 compliance report with the Nigerian Code of Corporate Governance (NCCG 2018), reaffirming its commitment to transparency, accountability, and ethical leadership. The report, dated August 25, 2025, outlines the company’s adherence to governance principles across board structure, risk management, internal audit, and stakeholder engagement.

The board, chaired by Mrs. Ifueko M. Omoigui Okauru, MFR, comprises a mix of Independent Non-Executive Directors (INEDs), Non-Executive Directors (NEDs), and Executive Directors (EDs), with a strong emphasis on diversity and professional expertise. The company confirmed that all directors declare conflicts of interest annually and that board appointments follow a structured, transparent process.

PZ Cussons reported full compliance with board committee structures, including the Governance & People Committee and the Board Audit & Risk Management Committee. The committees operate under board-approved charters and meet regularly to review internal controls, audit findings, and risk registers. However, the company noted that its IT Data Governance and Risk Management frameworks are still pending board approval, though group-wide policies are in place.

The report also highlighted the company’s remuneration practices, with sitting allowances and directors’ fees clearly defined. While executive remuneration is determined by the parent group, PZ Cussons Nigeria is developing a clawback policy and refining its performance-linked compensation structures.

On sustainability and ethics, the company confirmed quarterly reporting on environmental and social initiatives, and the existence of a whistleblowing framework reviewed in June 2023. No sanctions were imposed for non-compliance with the Code of Business Ethics during the review period.

The governance evaluation and board performance assessments were conducted internally and are scheduled for presentation at the September 2025 board meeting. The company also disclosed that it is working on policies for shareholder engagement and stakeholder communication, with updates expected in the next fiscal cycle.

This comprehensive filing underscores PZ Cussons Nigeria Plc’s dedication to good governance and positions the company as a responsible corporate citizen within Nigeria’s business landscape. You can view the full compliance report on the NGX disclosure portal.