DocuSign Envelope ID: D73C1A7A-AA0C-4851-AEF1-A5CE8437E2BA

FINANCIAL REPORTING COUNCIL OF NIGERIA

(Federal Ministry of Industry, Trade & Investment)

FRC/CG/001: TEMPLATE FOR REPORTING COMPLIANCE WITH THE NIGERIAN

CODE OF CORPORATE GOVERNANCE 2018

Section A: Introduction

Corporate Governance is a key driver of corporate accountability and business prosperity. The Nigerian Code of Corporate Governance, 2018 (NCCG 2018) seeks to institutionalize corporate governance best practices in Nigerian companies. It is also aimed at increasing entities' levels of transparency, trust and integrity, and create an environment for sustainable business operations.

The Code adopts a principle-based approach in specifying minimum standards of practice that companies should adopt. Where so required, companies are required to adopt the "Apply and Explain" approach in reporting on compliance with the Code. The 'Apply and Explain' approach assumes application of all principles and requires entities to explain how the principles are applied. This requires companies to demonstrate how the specific activities they have undertaken best achieve the outcomes intended by the corporate governance principles specified in the Code.

This will help to prevent a 'box ticking' exercise as companies deliberately consider how they have (or have not) achieved the intended outcomes. Although, the Code recommends practices to enable companies apply the principles, it recognizes that these practices can be tailored to meet industry or company needs. The Code is thus scalable to suit the type, size and growth phase of each company while still achieving the outcomes envisaged by the principles.

This form seeks to assess the company's level of compliance with the principles in the NCCG 2018. Entities should explain how these principles have been applied, specify areas of deviation from the principles and give reasons for these deviations and any alternative practice(s) adopted.

Please read the instructions below carefully before completing this form:

  1. Every line item and indicator must be completed.
  2. Respond to each question with "Yes" where you have applied the principle, and

"No" where you are yet to apply the principle.

  1. An explanation on how you are applying the principle, or otherwise should be included as part of your response.
  2. Not Applicable (N/A) is not a valid response.

DocuSign Envelope ID: D73C1A7A-AA0C-4851-AEF1-A5CE8437E2BA

Section B - General Information

S/No.

Items

Details

i.

Company Name

Africa Prudential Plc

ii.

Date of Incorporation

March 23, 2006

iii.

RC Number

649007

iv.

License Number

1280

v.

Company Physical Address

220B, Ikorodu Road, Palmgrove,

Lagos

vi.

Company Website Address

www.africaprudential.com

vii.

Financial Year End

December 31, 2022

viii.

Is the Company a part of a Group/Holding

No

Company? Yes/No

If yes, please state the name of the Group/Holding

N/A

Company

ix.

Name and Address of Company Secretary

Joseph Jibunoh

220B, Ikorodu Road, Palmgrove,

Lagos

x.

Name and Address of External Auditor(s)

Ernst & Young

10th & 13th Floors, UBA House, 57

Marina Lagos.

xi.

Name and Address of Registrar(s)

Africa Prudential Plc, 220B, Ikorodu

Road, Palmgrove, Lagos.

xii.

Investor Relations Contact Person

Anu Akindolire

(E-mail and Phone No.)

E-mail:

investorrelation@africaprudential.com

Tel: 0700 AFRIPRUD (0700 23747783)

xiii.

Name of the Governance Evaluation Consultant

Angela Aneke & Co. Ltd

xiv.

Name of the Board Evaluation Consultant

Angela Aneke & Co Ltd.

DocuSign Envelope ID: D73C1A7A-AA0C-4851-AEF1-A5CE8437E2BA

Section C - Details of Board of the Company and Attendance at Meetings

1. Board Details:

S/No.

Names of Board Members

Designation

Gender

Date First

Remark

(Chairman, MD, INED, NED, ED)

Appointed/

Elected

1

Chief Mrs Eniola Fadayomi,

Chairman - Non-Executive

Female

April 1, 2012

MFR

Director

2

Mr. Emmanuel Nnorom

Non - Executive Director

Male

July 1, 2017

3

Mr. Peter Elumelu

Non - Executive Director

Male

February 1, 2013

4

Mr. Samuel Nwanze

Non - Executive Director

Male

April 1, 2012

5

Mr. Peter Ashade

Non - Executive Director

Male

July 1, 2018.

6

Mr. Obong Idiong

Chief Executive Officer/CEO

Male

July 1, 2018.

7

Mrs Funmibi Chima

Independent Non - Executive

Female

September 2, 2020

Director

8

Mrs Zubaida Mahey Rasheed

Independent Non - Executive

Female

February 24, 2021.

Director

Attendance of Board and Board Committee Meetings

S/N

Name of

Number

Number

Membership

Designation

Number of

Number of

Board

of Board

of

Board

of

Board

(Member or

Committee

Committee

Members

Meetings

Meetings

Committees

Chairman)

Meetings

Meetings

Held

attended

Held within

attended

within the

in

the

the

in

the

Reporting

Reporting

Reporting

Reporting

Year

Year

Year

Year

1

Chief Mrs

4

4

Nil

Chairman

NA

NA

Eniola

Fadayomi,

MFR

2

Mr.

4

4

Board

Member

4

4

Emmanuel

Finance,

Nnorom

Investment

and Risk

Management

Committee

Board

4

Product and

Member

4

Projects

Committee

Board Audit

Member

4

4

and

Governance

Committee

DocuSign Envelope ID: D73C1A7A-AA0C-4851-AEF1-A5CE8437E2BA

3

Mr. Peter

4

4

Board

Member

4

4

Elumelu

Finance,

Investment

and Risk

Management

Committee

Board

Member

4

4

Product and

Projects

Committee

Board Audit

Chairman

4

4

and

Governance

Committee

4

Mr. Samuel

4

4

Board

Chairman

4

3

Nwanze

Finance,

Investment

and Risk

Management

Committee

Board

Member

4

3

Product and

Projects

Committee

Board Audit

Member

4

3

and

Governance

Committee

5

Mrs.

4

4

Board Audit

member

4

4

Zubaida

and

Rasheed

Governance

Committee

6

Mr. Peter

4

4

Board

Member

4

4

Ashade

Finance,

Investment

and Risk

Management

Committee

Board

Chairman

4

4

Product and

Projects

Committee

DocuSign Envelope ID: D73C1A7A-AA0C-4851-AEF1-A5CE8437E2BA

7

Mr. Obong

4

4

Board

Member

4

4

Idiong

Finance,

Investment

and Risk

Management

Committee

Board

Member

4

4

Product and

Projects

Committee

8

Mrs

4

4

Board

Member

4

4

Funmibi

Finance,

Chima

Investment

and Risk

Management

Committee

Board

Member

4

4

Product and

Projects

Committee

Section D - Details of Senior Management of the Company

1.

Senior Management:

S/No.

Names

Position Held

Gender

1

Obong Idiong

Managing Director/CEO

Male

2

Catherine Nwosu

Chief Operating Officer

Female

3

Anu Akindolire

Chief Finance Officer

Male

4

Joseph Jibunoh

Company Secretary & Legal Adviser

Male

5

Idris Oko - Osi

Acting Head, Internal Audit & Head, Enterprise Risk

Male

Management

6

Ivy Ikpeme - Mbakwem

Head, Customer Experience Centre

Female

7

David Ogunsola

Chief Technology Officer

Male

8

Emmanuel Chijioke

Head, Sales, and Business Development

Male

9

Ejiro Ogunbanjo

Head, Human Capital Management

Female

10

Timi Ajanlekoko

Head, Marketing and Corporate Communications

Male

11

Antoinette Edodo

Head, Business Transformation

Female

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Africa Prudential plc published this content on 14 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2023 16:45:11 UTC.