Not compliant
FTN Cocoa Processors does not pass Shariah screening under the AAOIFI Standard.
NGX: FTNCOCOA · Consumer goods · Screened 3 Sept 2026
FTN Cocoa Processors Plc processes and exports cocoa and palm kernel products from its factory in Ibadan, Oyo State. Incorporated as a private limited liability company in 1991, it became a public company and has been listed on the Nigerian Stock Exchange since 2009. It processes cocoa beans and palm kernel into cocoa cake, cocoa liquor, cocoa butter, cocoa powder, palm kernel oil and palm kernel cake. Cocoa cake, liquor and butter are shipped to international markets, while cocoa powder, palm kernel oil and palm kernel cake are supplied locally to manufacturing companies.
For 2024 the company reported revenue of N1.38 billion and a loss of N9.53 billion, operating at below 5% of production capacity due to working capital constraints. However, the company has since staged a recovery. In FY2025, revenue surged more than fourfold to N5.65 billion, and the loss was sharply reduced to N252.65 million, supported by a foreign exchange gain and improved export volumes. The company reported its first quarterly profit in nine years for the three months ended 31 March 2026, posting a profit after tax of N954.37 million.
This turnaround follows investment from OH Origins Global Commodities, Inc and OH Ecosystems, LLC, which secured a majority stake and received backing from the Norwegian Investment Fund (Norfund) to upgrade operations and expand production
Cocoa processing products (cake, liquor, butter, powder) largely for export, and palm kernel products (oil, cake) largely for the domestic market.
No. As of 3 September 2026, FTN Cocoa Processors (FTNCOCOA) does not pass Shariah screening under the AAOIFI Standard.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.