Corporate Governace

RCF is committed to high standards of corporate governance. It is a fundamental part of the company’s business practice. The corporate governance statement defines the rights and responsibilities of the board of directors, institutional investors, private shareholders and other stakeholders. RCF and its directors and employees are committed to high standards of business conduct and compliance with the law. These standards and principles are set out in the RCF code of Business Conduct.

Auditors : Ernst & Young, Nigeria

The appointment of external auditors (Ernst & Young, Nigeria) is a function of the full board on the recommendation of the Audit & Risk Committee and is subject to approval by shareholders. Any work to be conducted by the external auditors outside the agreed scope of the Audit is to be approved by the Audit & Risk Committee.

Policy for the rotation of external Audit engagement partners

RCF shall select and appoint external auditors and rotate external audit engagement partners every five years.

Risk Management, Internal Compliance & Control Systems

RCF recognises that all aspects of our business involve significant risk, including both threats (downside risk) and opportunities (upside risk). We are committed to managing all sources of risk in a proactive and effective manner through competent risk management. This requires high quality risk analysis to allow appropriate management decision to be taken at all levels in the company. A number of systems are in place to identify and manage risk, these include: The identification and regular review of all significant business risk facing the company. The provision of information by management to the board, on a periodic basis, as to the status of any plans, controls, policies and/or procedures to manage the significant business risks. Guidelines for ensuring that capital expenditures and revenue commitments exceeding certain approved limits are placed before the board for approval. Limits and controls for all financial exposures, including the uses of derivatives

Health, Safety & Environment

The company has established a Health, safety and Environment committee to provide oversight of RCF’s health, safety and environment risks and responsibilities. Such oversight includes monitoring the following RCF’s business: The effectiveness of risk management processes employed in the areas of HSE Compliance with applicable laws, rules and regulations Promotion of continuous improvement and company culture in the areas of HSE and, The effectiveness of the company HSE processes, policies and standards, programs and initiatives (See RCF HSE Committee Charter)

Others include:
• Continuous disclosure Shares trading policy
• Board performance and appraisal process in accordance with the requirement of its charter, the board perform annual evaluation of its performance and sets out the goals and objective of the Board for the upcoming year.
• Board charter
• Audit & risk committee charter
• Remuneration committee charter
• Compliance sub-committee charter
• Schedule of board reserved matter
• Director’s conflict policy
• HSE committee charter