These honours were announced at a special ceremony held on Friday, 17^th May 2024, at the NGX headquarters in Lagos.

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.

Airtel Africa stood out among other nominees in the areas of Financial Reporting, Corporate Governance, and Sustainability Reporting.

In the highly competitive Financial Reporting Category, Airtel Africa was recognized as Most Outstanding, edging out industry giants such as Dangote Cement Plc, Dangote Sugar Refinery Plc, MTN Nigeria Communications Plc, Seplat Energy Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Company Plc.

Speaking on the awards, Carl Cruz, the group chief executive officer, Airtel Nigeria, expressed gratitude for the awards while restating the organization’s enduring commitment to promoting transparency and accountability for the benefit of all stakeholders.

“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,” he said.

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.

In his remarks at the award ceremony, Mr. Olufemi Shobanjo, the chief executive officer, NGX Regulation Limited, stressed the significance of the award, highlighted the importance of transparency and accountability in building a more productive market environment.

“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.

While sharing this positive sentiment regarding the awards, Innocent Okwuosa, the 59th president of the Institute of Chartered Accountants of Nigeria (ICAN), expressed optimism about the future of corporate reporting in the country.

“As sustainability evolves and with Nigeria adopting IFRS S1 and S2 of International Sustainability Standard Board (ISSB),” he said, “it is expected that the corporate reporting in Nigeria will get better and better.”

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

Olufemi Shobanjo brings a wealth of experience to the role at NGX, having worked in corporate and commercial law, compliance and regulation, as well as banking and financial markets for over 18 years. He previously served as the Head of Broker-Dealer Regulation at the company.

The NGX Group Plc board noted confidence in Shobanjo’s ability to lead NGX RegCo and maintain the integrity of the Nigerian capital markets. His experience and qualifications place him in a good position to scale through the complexities of the financial industry.

Before he was appointed CEO, Shobanjo was highly involved in developing and implementing regulatory strategies, policies, and procedures at NGX RegCo. His deep understanding of the regulatory sector will be very useful in his new role.

The board also acknowledged and appreciated Ms. Awe’s contributions to NGX RegCo during her tenure as CEO. They wished her success in her future endeavors.

The appointment of Shobanjo ensures a smooth transition in leadership at NGX RegCo. His expertise within the organization makes him well-suited to continue the company’s success.

Shobanjo’s expertise in finance, management, and strategy makes him the perfect fit to continue the company’s resilient success journey.

His leadership style is characterized by fairness, transparency, and collaboration, which will help facilitate a positive work culture and encourage employees to their highest level of capabilities. 

Shobanjo, with NGX RegCo, is focused on maintaining the integrity and stability of the Nigerian capital markets. His leadership will help in promoting a transparent and efficient market environment, supporting the organization well to continue its important role in regulating the Nigerian capital market.