Dangote Cement receives top honors from ICAN and NGX for outstanding corporate reporting

Photo shows L-R: Head, Sustainability, Dangote Cement Plc, Dr. Igazeuma Okoroba; Head, External Report, Finance, Dangote Cement Plc, Paul Masvongo; Deputy Company Secretary/General Counsel, Dangote Cement Plc, Edward Imoedemhe; President, Institute of Chartered Accountants of Nigeria (ICAN), Dr. Innocent Okwuosa; Chief Financial Officer, Dangote Sugar Refinery Plc, Dr. Isiaka Bello; Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Head, Financial Control and Reporting, Dangote Cement Plc, Ignatus Ediale at the Maiden Edition of 2024 ICAN NGX Corporate Reporting Award, where Dangote Cement won the Platinum and Corporate Governance Award, in Lagos, on Friday, May 17, 2024.

Dangote Cement was recently recognized with the prestigious top prize at the inaugural Corporate Reporting Award, a collaborative effort between the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Limited. 

The renowned cement manufacturer was awarded the platinum accolade for its exceptional performance across all three reporting categories. 

This recognition highlights Dangote Cement's exemplary reporting practices, which effectively cover all pertinent aspects of corporate reporting, setting a high standard for excellence in the industry.

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

In addition to the Platinum award, Dangote Cement also clinched the Best in Class Award for Excellence in Corporate Governance, surpassing other nominees such as Access Holdings, Airtel Africa, ETI, MTN Nigeria, SEPLAT Energy, and Stanbic IBTC Holdings Plc. Airtel Africa and Seplat Energy were recognized for Financial Reporting and Sustainability Reporting, earning Gold and Silver awards respectively in the overall category.

In a press release by the Group, Edward Imoedemhe, the Company Secretary/General Counsel of Dangote Cement Plc, expressed gratitude for the recognition, emphasizing the company's dedication to corporate reporting standards. He said that the awards will serve as motivation to continually elevate performance in this area.

“We are grateful to the organisers for this honour which is a testament to our commitment to corporate reporting and best practice. We will continue to raise the bar,” he assured.

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.

The maiden Corporate Reporting Award recognized the top 30 most capitalized companies listed on the Nigerian Exchange Limited for the 2022 financial reporting year.

Share on Google Plus

About Newsmart


Post a Comment