Manny Ita –
Cadbury Nigeria Plc has announced the resignation of Ibukun Awosika as a director on its board, bringing to an end a 16-year tenure marked by significant contributions to the company’s governance and strategic direction.
The resignation, which takes effect from May 1, 2026, was disclosed in an official statement signed by the company secretary, Afolasade Olowe, and communicated to the Nigerian Exchange Limited as well as the investing public. The board confirmed it had formally accepted her decision to step down.
Awosika joined the board in October 2009 as a non-executive director and has since played a key role in shaping the company’s corporate governance framework. In its statement, the board expressed deep appreciation for her service, noting her impact over the years and wishing her success in her future endeavours. A replacement is expected to be announced in due course.
Beyond her role at Cadbury, Awosika is widely recognized as the founder and chairperson of The Chair Centre Limited, a leading firm in office furniture and security systems. She also holds a distinguished place in Nigeria’s corporate landscape as the first female chairperson of First Bank of Nigeria and has served on several high-level boards, including the Nigerian Sovereign Investment Authority and the National Job Creation Committee.
Her departure comes at a time when Cadbury Nigeria is experiencing a notable financial turnaround. The company reported a pre-tax profit of N17.2 billion for the 2025 financial year, a sharp recovery from the N28.3 billion loss recorded in 2024. The improvement was driven by stronger sales and reduced costs, with revenue rising by over 31 percent to N169.8 billion.
The company’s performance also showed sustained momentum into the final quarter of 2025, with pre-tax profit increasing significantly year-on-year. Domestic sales accounted for the bulk of revenue, reflecting strong demand within the Nigerian market, while export sales contributed a smaller share.
Awosika’s exit marks the end of a significant chapter for the company, coinciding with a period of renewed financial stability and growth.
