The Board approved the constitution of four Board Committees - namely the Risk Management Committee, Audit Committee, Investment Committee and the Governance & Remuneration Committee - with their respective responsibilities and roles clearly defined. Furthermore, a Statutory Audit Committee (SAC) has been established in compliance with section 404 (3) of the Companies and Allied Matters Act 2020, which requires every public company to establish a SAC composed of two Non-executive directors and three representatives of the shareholders.

The effectiveness of the Board is evaluated by KPMG Advisory Services on an annual basis with the report presented at the AGM and a copy also sent to the Central Bank of Nigeria (CBN). This evaluation involves a review of the Board's structure, composition, responsibilities, processes and relationships, as well as individual members' competencies and respective roles in the Board's performance.

  1. Details of New Board Committees

The primary purpose of the Investment Committee is to assist the Board in fulfilling its oversight responsibility as it relates to Investment implementation, capital and portfolio management, liquidity planning and ensuring that the overall Investments align with the Group’s goals.

S/N

NAME

ROLE IN COMMITTEE

1.

MRS. TOKUNBOH ISHMAEL

CHAIRPERSON

2.

MS. MUIBAT IJAIYA

MEMBER

3.

MRS. OLAPEJU SOFOWORA

MEMBER

4.

MR. LADI BALOGUN

MEMBER

5.

MR. FEMI BADEJI

MEMBER

6

MR. GBOLAHAN JOSHUA

MEMBER

 

The primary purpose of the Risk Management Committee is to assist the Board in fulfilling its oversight responsibility as it relates to risk management, strategy, and compliance, as well as overseeing the establishment of policies, standards and guidelines for monitoring and managing risks, compliance, and strategy. As part of its risk management oversight functions, the Committee will also ensure corporate oversight and guidance for compliance activities and strategic initiatives.

S/N

NAMES

ROLE IN COMMITTEE

1.

MRS. MUIBAT IJAIYA

CHAIRPERSON

2.

MRS. OLAPEJU SOFOWORA

MEMBER

3.

MRS. TOKUNBOH ISHMAEL

MEMBER

4.

MR. LADI BALOGUN

MEMBER

5.

MR. GBOLAHAN JOSHUA

MEMBER

 

The primary purpose of the Audit Committee is to assist the Board in fulfilling its oversight responsibility as it relates to audit, finance and budget matters as well as ascertaining the integrity of the financial statements and financial reporting process of the Group, independence and the performance of external and internal audit functions.

S/N

NAMES

ROLE IN COMMITTEE

1.

MRS. OLAPEJU SOFOWORA

CHAIRPERSON

2.

DR. GREGORY ERO

MEMBER

3.

MRS. TOKUNBOH ISHMAEL

MEMBER

4.

MS. MUIBAT IJAIYA

MEMBER

  

Its functions include nominating new directors to the Board; recommending remuneration policy for the Group; overseeing Board performance and evaluation within the Group as well as succession planning for key positions on the Boards of the Group and subsidiaries.

Membership: the committee is made up of only non-executive directors. The Group Chief Executive and the Chief Operating Officer shall be in attendance when required

S/N

NAMES

 ROLE IN COMMITTEE

1.

PROF OLUWATOYIN ASHIRU

CHAIRPERSON

2.

ALHAJI MUSTAPHA DAMCIDA

MEMBER

3.

MRS. TOKUNBOH ISHMAEL

MEMBER

4.

MRS. OLAPEJU SOFOWORA

MEMBER

[back to top]

We use cookies to provide you with the best experience on our website, to improve usability and performance and thereby improve what we offer to you. By clicking on the “Accept All” button you agree to the storing of cookies on your device

Our website is protected by DMC Firewall!