Veritas Kapital Assurance Plc has revealed that the emphasis it placed on anti-corruption and ethical governance in 2024 resulted in zero reported incidents of bribery, corruption, or financial misconduct.
This was indicated in the company’s Sustainability Report for the same period filed with the Nigerian Exchange Limited on Friday.
NGX encourages sustainability reporting aligned with its Sustainability Disclosure Guidelines and the Global Reporting Initiative standards, with a focus on environmental, social, and governance principles to enhance transparency and engagement between investors and listed companies.
The report details Veritas Kapital’s zero-tolerance policy towards corruption, bribery, money laundering, and abuse of office. To achieve this, the company said that it implemented several key anti-corruption measures, including a secure, confidential, and independent whistleblowing platform.
The report partly read, “At Veritas Kapital Assurance Plc, we uphold the highest standards of corporate governance, integrity, and ethical conduct in all our operations. Our zero-tolerance policy towards corruption, bribery, money laundering, and abuse of office ensures that we foster a transparent and accountable business environment. To strengthen our anti-corruption framework, we have implemented robust policies and mechanisms and also key anti-corruption measures.
“Performance & Compliance in 2024: No reported incidents of bribery, corruption, or financial misconduct between January 1 and December 31, 2024. No fines, penalties, or legal exposures related to anti-corruption violations. Strengthened collaboration with regulatory bodies, auditors, and compliance agencies to ensure strict adherence to ethical and governance standards.”
Veritas Kapital also emphasised its strengthened collaboration with regulatory bodies, auditors, and compliance agencies to ensure strict adherence to ethical and governance standards.
The insurance firm added that it fostered environmental sustainability by implementing responsible business practices that minimise its ecological footprint.
“As a financial services provider, we recognise our role in climate risk management, resource efficiency, and sustainable business operations. Our environmental strategy integrates eco-conscious product and service delivery, responsible waste management, energy efficiency, and emissions reduction to contribute to a greener and more sustainable future,” the sustainability report stated.
In this regard, Veritas Kapital revealed that over 80 per cent of customer policy renewal notices were delivered electronically, reducing reliance on printed materials. Its internal communications, leave approvals, performance appraisals, training materials, and regulatory reports were transitioned to paperless digital systems, and automated workflows and cloud-based document storage were implemented to eliminate paper dependency.
The report further read, “At Veritas Kapital Assurance Plc, we remain steadfast in our commitment to sustainable excellence and responsible growth. Our business strategy prioritises the well-being of employees, customers, stakeholders, and the communities we serve, ensuring that our operations create lasting social, economic, and environmental value. Beyond mere compliance, we strive to be a positive force for change, actively engaging in initiatives that support social development, promote financial inclusion, drive environmental sustainability, and strengthen corporate governance. We are committed to protecting the environment, empowering communities, and fostering long-term business resilience by continuously innovating and aligning with global best practices.
“As we move forward, we will remain dedicated to embedding sustainability into every aspect of our business, ensuring that Veritas Kapital Assurance Plc is not only a leader in the insurance industry but also a responsible corporate citizen contributing to a better, more sustainable world.”
