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:
- Every line item and indicator must be completed.
- Respond to each question with "Yes" where you have applied the principle, and
"No" where you are yet to apply the principle.
- An explanation on how you are applying the principle, or otherwise should be included as part of your response.
- 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 | ||||||||||
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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 | |
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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.