Compliance with Codes and Applicable Regulations
Dangote Cement Plc (“DCP”) is committed to setting the trend and being the point of reference for high standards of corporate governance and global best practice, in Nigeria, in countries where it has business operations and in the international community generally. Our key focus at all times is recognition of, and compliance with, all laws regulating the business environment. This practice is in consonance with our belief that good corporate governance is a means of sustaining viability of the business in the long term and maintaining the confidence of investors. DCP believes that the attainment of business objectives is directly aligned to good corporate behavior as it provides stability and growth to the enterprise. In line with this objective and the need to meet its responsibility to its shareholders, the company strives to meet the expectations of both its operating environment, foreign investors and stakeholders in general.
Dangote Cement Plc holds firm to its guiding principles of transparency, accountability, good quality management and integrity through the adoption and monitoring of corporate strategies, processes and policies in order to comply with its legal and ethical environment. In addition to being the highest capitalized company in Nigeria and West Africa, Dangote Cement has also maintained the lead on corporate governance compliance with the Securities and Exchange Rules on Corporate Governance in Nigeria, the Investments and Securities Act, as well as the Listing Rules of the Nigerian Stock Exchange. This high level of commitment has culminated to DCP being one of the only seven Nigerian Companies to be listed on the Premium Board of the Nigerian Stock Exchange, which is limited to companies who have achieved the stringent rules and international standards prescribed by the Exchange.
Because of its global and international outlook, DCP is committed to complying with international codes of corporate governance and has established guidelines which will enable it achieve same. In particular, the Board has considered the adoption of some governance practices contained in the UKLA Listing Rules (the ‘‘Model Code’’) on a voluntary basis as the Company is not regulated by the UK Financial Conduct Authority who will have no authority to monitor the Company’s voluntary compliance or impose sanctions for breaches.