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Corporate Governance

Board Composition and Responsibilities

The Board delegates the day-to-day running of the Company’s affairs to the Managing Director/Chief Executive Officer supported in this task by an Executive Management Committee. The Board currently consists of 10 members- the Chairman, the Managing Director, 1 Executive Director and 7 Non-Executive Directors, of which 2 are Independent.

Nascon is committed to best practices and procedures in compliance with the requirements of the Nigerian corporate governance regulations, which include but are not limited to the Securities and Exchange Commission’s Code of Corporate Governance for Public Companies in Nigeria and the Companies and Allied Matters Act.

Overseen by the Board of Directors, our corporate governance practices are constantly under review, in line with the dynamics of the business environment.The Corporate Governance policies are designed to ensure that the Company’s business is conducted in a fair, honest and transparent manner, which conforms to high ethical standards and avoids potential conflicts of interest.

It is the responsibility of the Board to:

– Ensure that the Company’s operations are conducted in a fair, honest and transparent manner that conforms to high ethical standards.

– Ensure integrity of the Company’s financial and internal control policies.

– Ensure the accurate, adequate and timely rendition of statutory returns and financial reporting to the regulatory authorities (NSE, CAC, SEC) and shareholders.

– Ensure value creation for shareholders, employees and other stakeholders.

– Review and approve corporate policies, strategy, annual budget and business plan.

– Monitor implementation of policies and the strategic direction of the Company.

– Set performance objectives, monitor implementation and corporate performance.

– Review and approve all major capital expenditure of the Company.

– Ensure that the statutory rights of shareholders are protected at all times.

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