PZ Cussons Nigeria Convenes Emergency Board Meeting to Address Negative Shareholder Funds

PZ Cussons Nigeria Plc has announced that its Board of Directors held an emergency meeting on June 3, 2025, to evaluate measures for resolving the company’s negative shareholder funds. The disclosure, filed with the Nigerian Exchange on June 5, follows months of financial strain exacerbated by foreign exchange losses and declining profitability.

The company, a major player in Nigeria’s fast-moving consumer goods sector, slipped into negative equity in its most recent audited financials. Analysts attribute the development to significant devaluation-related impairments on foreign currency-denominated liabilities, coupled with mounting cost pressures and shrinking margins in a volatile macroeconomic environment.

In response, the board considered several options to restore the company’s capital base and improve its financial position. However, specific decisions or actions from the meeting were not disclosed in the regulatory filing.

In line with regulatory requirements, PZ Cussons Nigeria has reiterated that its closed trading period—initiated on June 1—remains in effect until 24 hours after it files its unaudited financial statements for the fourth quarter ended May 31, 2025.

Investors are encouraged to consult the company’s investor portal at https://www.pzcussons.com/investors/nigeria-investors or contact its Investor Relations Officer, Bukola Olonade-Agaga, for further updates.

The board, chaired by Ifueko M. Omoigui Okauru MFR, includes international executives such as Greek CEO Dimitris Kostianis and directors from Nigeria, the UK, and Australia—reflecting the multinational heritage of the PZ Cussons brand in Nigeria.