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ICAN, NGX emphasise corporate reporting quality


stockThe Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Limited (NGX RegCo) have reinforced their commitment to transparency and excellence in corporate reporting with the launch of their maiden corporate reporting award.

The award, which recognized the top 30 most capitalized companies listed on the Nigerian Exchange (NGX) for the 2022 financial reporting year, underscored organizations shared commitment to fostering transparency, accountability, and international best practices within the private sector.

Dangote Cement Plc, Airtel Africa Plc, Seplat Energy Plc among others were honoured with the top prize at the event.

Dangote Cement received the Platinum award for excelling across all three reporting categories, showcasing exemplary reporting practices that comprehensively address all relevant aspects of corporate reporting.

According to the organisers, the scoring criteria involved a combination of average scoring and assessments from individual judges.

Olufemi Shobanjo, CEO of NGX Regulation Limited, highlighted the significance of the award in promoting transparency and accountability among listed companies, anticipating a positive ripple effect on both listed and private companies in Nigeria.

ICAN’s 59th President, Innocent Okwuosa, underscored the importance of corporate reporting excellence in attracting capital flows to the market. He emphasized the role of transparency in fostering investor confidence and reiterated ICAN’s commitment to promoting accountability and transparency in the private sector.

“It is generally agreed that capitals will flow to markets that foster greater transparency and this effort is aimed at this. It also re-enforces the public interest mandate of ICAN in extending accountability and transparency to the private sector,” he said.

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