ICAN-NGX Awards Airtel Gold Honours In All Category

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Airtel Nigeria Acquires $317 Million Spectrum Ahead Of Its 5G Launch
Airtel Nigeria Acquires $317 Million Spectrum Ahead Of Its 5G Launch

A special ceremony was held on Friday, 17th May 2024, at the Nigerian Stock Exchange (NGX) headquarters in Lagos, where Airtel Africa, a telecommunications provider in Africa, with its stock trading on the NGX emerged as a major winner at the inaugural edition of the ICAN-NGX Awards. Amidst other nominations, it carted away the Most Outstanding in Financial Reporting and the overall gold across all categories.

The event where it bagged all these honour, was organized by the Institute of Chartered Accountants of Nigeria (ICAN), in collaboration with NGX Regulation Limited (NGX RegCo). The awards recognized excellence in corporate reporting among the top 30 most capitalized companies listed on the Nigerian Stock Exchange for the 2022 financial reporting year.

In the categories of financial reporting, corporate governance, and sustainability reporting, Airtel Africa distinguished themselves from the other contenders.

Furthering, over outperforming industry heavyweights like Dangote Cement Plc, Dangote Sugar Refinery Plc, MTN Nigeria Communications Plc, Seplat Energy Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Company Plc, Airtel Africa was named Most Outstanding in the fiercely competitive Financial Reporting Category.

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Speaking on the awards, Group Chief Executive Officer, Airtel Nigeria, Carl Cruz, expressed gratitude for the awards while restating the organization’s enduring commitment to promoting transparency and accountability for the benefit of all stakeholders.

He stated, “At Airtel, we strive to set the benchmark for excellence in financial reporting and corporate reporting, and these awards validate our efforts in this regard. We have been deliberate in maintaining a painstaking dedication to transparency for the sake of our shareholders, which is also how we keep our promises to our shareholders.”

Making Telecom and IT news, Airtel Africa also received the Gold Award in the Corporate Reporting Category. This award, according to Mr. Cruz, underscored Airtel’s culture of fair business practices. “Today’s recognition reminds us to keep upholding the fundamental principles of integrity, accountability, and ethical conduct across all facets of its operations,” he noted.

NGX Regulation Limited’s Chief Executive Officer, Mr. Olufemi Shobanjo, emphasized the significance of the award and the value of accountability and transparency in creating a more productive market environment in his remarks at the award ceremony.

According to him, “It is noteworthy that integrity is an important drive in ensuring a successful business. In this vein, the Corporate Reporting Award underscores our collective commitment to fostering a capital market that operates on principles of transparency, integrity, and excellence,” he said.

Innocent Okwuosa, the 59th President of the Institute of Chartered Accountants of Nigeria (ICAN), expressed hope about the future of corporate reporting in the nation, while also expressing gratitude for the honors. “As sustainability evolves and with Nigeria adopting IFRS S1 and S2 of International Sustainability Standard Board (ISSB), it is expected that the corporate reporting in Nigeria will get better and better,” he said.

Airtel Africa remains committed to promoting accountability, transparency, and sustainability in its operations.