Cadbury Nigeria Plc has announced the resignation of Ibukun Awosika as a Director on the company’s board after over 16 years of service.
The resignation, effective from May 1, 2026, was confirmed in a statement released on Wednesday, signed by the company’s Secretary, Afolasade Olowe.
Mrs. Awosika is the Founder and Chairperson of The Chair Centre Limited, a leading player in the office furniture and banking security systems industries.
What the Cadbury statement is saying
In the statement, Cadbury Nigeria notified the Nigerian Exchange Limited and the public of her resignation.
- “This to notify Nigerian Exchange Limited and the investing public that the Board has considered and accepted the resignation of Mrs. Ibukun Awosika as Director of Cadbury Nigeria Plc (the Company) with effect from Friday, 1st May 2026,” the statement reads.
The Board expressed deep appreciation for Mrs. Awosika’s contributions since joining the company as a Non-Executive Director in October 2009.
The company also noted that a replacement for Mrs. Awosika would be announced in due course.
Get up to speed
Ibukun Awosika, a graduate of the University of Ife (now Obafemi Awolowo University), holds a BSc in Chemistry.
She later advanced her business expertise through the Chief Executive Programme at the Lagos Business School and an MBA Global Executive Programme at IESE Business School in Barcelona, Spain.
She is known for breaking barriers as the first woman appointed as Chairperson of First Bank of Nigeria.
In addition, she served on the boards of the Nigerian Sovereign Investment Authority and the National Job Creation Committee (NJCC).
What you should know
Awosika’s resignation comes at a time when Cadbury Nigeria is experiencing a strong financial recovery.
The company reported a pretax profit of N17.2 billion for the 2025 financial year, marking a significant recovery from the N28.3 billion loss in 2024.
This impressive turnaround was revealed in the company’s unaudited financial statement published on January 27, 2026. The recovery continued into Q4 2025, with a 68.6% increase in pretax profit, rising from N2.04 billion in Q4 2024 to N3.4 billion.
Cadbury Nigeria also saw a 31.49% increase in full-year revenue, reaching N169.8 billion in 2025, up from N129.1 billion in 2024. Domestic sales made up 93.1% of the revenue, totaling N158.1 billion, with the remaining N11.7 billion from export sales.
As expected, the cost of sales rose alongside higher turnover, climbing to N133.2 billion from N110.9 billion in 2024.
