The Institute of Chartered Accountants of Nigeria and NGX Regulation Limited recognised listed companies on NGX for excellence in financial reporting, corporate governance, and sustainability disclosures for the 2024 financial year at the 3rd edition of the Corporate Reporting Awards.
The awards, which cover companies on the NGX 30 Index, assess performance across three pillars, including Financial Reporting (35 per cent), Corporate Governance (30 per cent), and Sustainability Reporting (35 per cent).
Organisers said the 2024 assessment was conducted under strict confidentiality and objectivity, with outcomes based strictly on merit. The exercise builds on earlier editions covering the 2022 and 2023 financial years and continues to serve as a benchmark for corporate disclosure standards in the Nigerian capital market.
Speaking at the ceremony, ICAN President and Chairman of Council, Mallam Haruna Yahaya, said corporate reporting has evolved significantly beyond compliance, becoming a strategic instrument for communicating purpose, resilience, and direction.
He noted that organisations are now expected not only to report performance but also to demonstrate how they are responding to change and creating sustainable value.
“Corporate reporting has evolved beyond compliance to become a strategic tool that communicates purpose, resilience, and direction. In today’s environment, organisations are expected not only to report performance, but also to demonstrate how they are adapting to change and creating sustainable value. Transparency remains central to building trust, strengthening investor confidence, and supporting market stability,” he said.
Also speaking, the Chief Executive Officer of NGX Regulation Limited, Femi Shobanjo, said strong corporate reporting remains critical to enhancing market integrity and sustaining investor confidence.
He highlighted NGX RegCo’s continued adoption of global reporting frameworks, including the International Financial Reporting Standards, the Nigerian Code of Corporate Governance, and the IFRS Sustainability Disclosure Standards.
According to him, the growing emphasis on environmental, social, and governance disclosures reflects an important shift in market expectations, as sustainability considerations are increasingly becoming central to corporate strategy and long-term value creation.
“Strong corporate reporting is fundamental to market integrity and investor confidence. Beyond financial performance, there is now a clear expectation for companies to disclose how environmental, social, and governance considerations are embedded in their strategy. Long-term corporate success is increasingly linked to the integration of sustainability into core business decisions,” he said.
He added that the “Most Improved Company” category was introduced to encourage continuous improvement in reporting quality among listed firms.
International Breweries Plc was named Most Improved Company (Overall), while First HoldCo Plc won the Sustainability Reporting Award. Zenith Bank Plc received the Corporate Governance Award, and MTN Nigeria Communications Plc clinched the Financial Reporting Award.
In the top overall category, Access Holdings Plc won silver, and Airtel Africa Plc took gold, while Seplat Energy Plc emerged as the platinum winner.
The awards have become a benchmark for corporate reporting excellence in Nigeria’s capital market, reflecting ongoing efforts by ICAN and NGX RegCo to strengthen transparency, accountability, and sustainable value creation.
Both institutions reaffirmed their commitment to raising reporting standards and deepening investor confidence in the Nigerian capital market.
