Cutix Plc's Auditors Step Down After Six Years

Ngozi Monica Okonkwo & Co, the external auditors for Cutix Plc, have resigned after about six years of handling the company's accounts.

Cutix made this known in a regulatory notice signed by Chinwendu Nwokporo, the Company Secretary, on Wednesday. The company received the formal resignation notice from the auditors on 24 July.

Ngozi Monica Okonkwo & Co started working with Cutix in November 2020. They took over from ANOC Professional Service, who also stepped down at that time.

The resignation became official on 28 August, the same day the company held its 43rd Annual General Meeting (AGM).

Cutix, which makes electrical, automobile, and telecommunication wires and cables, said the auditors made their decision following "a strategic review of their audit portfolio."

The company explained that this review led the auditors to stop serving as Cutix’s external auditors after finishing the audit for the financial year that ends on 30 April 2026.

“The Board of Directors has acknowledged the resignation and started the process to appoint a new external auditor, pending the required regulatory and shareholder approvals,” the manufacturer said.

Cutix added that it will provide more updates to the Nigerian Exchange Group once a new external auditor is appointed and the necessary approval processes are completed.