From: Amadi Vincent Uzoma
Dangote Cement was recently awarded the top prize at the first-ever Corporate Reporting Award, a collaboration between the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Limited.
The renowned cement producer was presented with the Platinum award for its exceptional performance in all three reporting categories, demonstrating exemplary reporting practices that cover all relevant aspects of corporate reporting comprehensively. The assessment criteria included an average score and evaluations from individual judges.
Apart from the Platinum award, Dangote Cement also secured the Best in Class Award for Excellence in Corporate Governance, outshining competitors such as Access Holdings, Airtel Africa, ETI, MTN Nigeria, SEPLAT Energy, and Stanbic IBTC Holdings Plc. Airtel Africa and Seplat Energy were acknowledged for their Financial Reporting and Sustainability Reporting, earning Gold and Silver awards, respectively, in the overall category.
Edward Imoedemhe, the Company Secretary/General Counsel of Dangote Cement Plc, expressed appreciation for the recognition, highlighting the company’s commitment to maintaining high corporate reporting standards. He stated that the awards would inspire them to continuously enhance their performance in this area.
“We appreciate the recognition from the organizers, which confirms our dedication to corporate reporting and best practices. We will strive to set higher standards,” he affirmed.
Olufemi Shobanjo, CEO of NGX Regulation Limited, emphasized the award’s importance in promoting transparency and accountability among listed companies, foreseeing a positive impact on both listed and private firms in Nigeria.
Innocent Okwuosa, the 59th President of ICAN, stressed the significance of corporate reporting excellence in attracting capital investment to the market. He highlighted the role of transparency in building investor confidence, reiterating ICAN’s commitment to promoting accountability and transparency within the private sector.
“It is widely recognized that capital tends to flow towards markets that prioritize transparency, and this initiative aims at achieving precisely that. It also supports ICAN’s mandate of promoting accountability and transparency in the private sector,” he noted.
The inaugural Corporate Reporting Award honored the top 30 most capitalized companies listed on the Nigerian Exchange Limited.
