Seplat Energy Plc has clinched the Best in Sustainability Reporting Award at the maiden Corporate Reporting Award, organized by the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Ltd (NGX RegCo).
The accolade was announced during a ceremony held in Lagos, aimed at recognizing the top 30 most capitalized companies listed on the Nigerian Exchange Ltd (NGX) for the 2022 financial reporting year.
The awards highlight ICAN and NGX RegCo’s dedication to fostering transparency, accountability, and adherence to international best practices within the private sector. Evaluation criteria for the awards encompassed financial reporting, corporate governance, and sustainability reporting.
In his address at the ceremony, ICAN President Dr. Innocent Okwuosa commended NGX RegCo for enhancing disclosure and reporting standards among listed companies. Okwuosa noted that corporate reporting has evolved, shifting from a primary focus on financial reporting to increasingly incorporating social and environmental disclosures. He explained that good corporate reporting must reflect the best elements of corporate governance, financial reporting, and sustainability reporting. The ICAN president added that while the inaugural edition of the award was limited to 30 companies for ease of administration, future editions would extend to all listed companies.
NGX RegCo CEO, Mr. Olufemi Shobanjo, emphasized that transparency is a key driver of any economy, ensuring full disclosure of information by entities and making such information easily accessible for informed public decision-making.
The award was received by Mrs. Eleanor Adaralegbe, CFO-Designate of Seplat Energy Plc, and Mrs. Chioma Afe, Director of External Affairs & Social Performance.
In 2021, Seplat Energy unveiled a new corporate strategy with two ambitions: to build a sustainable business and deliver energy transition. Each ambition is supported by three pillars, integrating sustainability into the company’s business strategy through specific initiatives that promote sustainable practices across its operations. “Now, for Seplat Energy, sustainability is embedded at all levels and across all operations,” Adaralegbe stated, commending ICAN and NGX RegCo for the recognition and their professionalism.
