Cadbury Nigeria Plc

Status: Operating.

Ownership

Foreign-controlled · United States

Parent / controller: Mondelēz International (parent); previously Cadbury Schweppes (UK)

Acquired by Mondelēz when it bought Cadbury globally in 2010. The 2006 Cadbury Nigeria accounting scandal (overstatement of revenue) was the largest corporate-governance failure on the NGX of its era.

See United States in the Diplomatic Record →

Why it is on record

Bournvita, TomTom, and the Stanmark/Cocoa-buying integration that gave the company Nigeria's largest cocoa procurement network.

Record held

Largest single cocoa procurement network in Nigeria.

Deep dive

Cadbury Nigeria Plc, established in 1965 as a subsidiary of the UK confectioner, manufactures Bournvita (the dominant Nigerian malted chocolate drink), TomTom, and chocolate confectionery. The 2006 financial reporting scandal — under CEO Bunmi Oni, the company restated three years of accounts after admitting overstatements of approximately N15bn — was the most severe corporate-governance scandal in NSE-listed FMCG history. Mondelez (which acquired Cadbury globally in 2010) retains control of the Nigerian operation.

Accountability

2006 SEC Nigeria sanction over accounts overstatement.

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Tier 4 · tertiary, flagged

Wikipedia only where primary is pending. Always labelled.