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Airtel wins big at maiden ICAN-NGX awards

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Airtel Africa, the leading telecommunications provider in Africa with its stock trading on the Nigerian Stock Exchange (NGX), emerged as a major winner at the inaugural edition of the ICAN-NGX Awards, carting away the Most Outstanding in Financial Reporting and the overall gold across all categories, amidst other nominations.

These honors were announced at a special ceremony held on Friday, 17th 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, 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.

“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, the Chief Executive Officer, NGX Regulation Limited, Mr. Olufemi Shobanjo, 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.

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Adeleke bags fellowship award on infrastructure devt

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Gov. Ademola Adeleke of Osun has bagged the fellowship award of a socio-cultural group, Ede Unique Club of Nigeria, in recognition of the various infrastructural development projects embarked upon since his assumption of office.

Spokesperson for the organisation, Prince Wale Ojetimi, said in a statement on Tuesday in Osogbo that the investiture of the fellowship award would hold in Ede on Thursday, as part of the organisation’s 40th anniversary celebrations.

Ojetimi said that the award was a testimonial to Adeleke’s personal achievements and his progeny’s remarkable contributions to the socio-economic and political development of Osun and Nigeria at large.

He said that the governor would also perform the inauguration of the N5.5 million solar-powered facility donated by the club to the State Hospital in Ede.

The spokesperson said that the solar-powered facility was part of the organisation’s corporate social responsibility component of its 40th anniversary.

He said that the event, to be presided over by the Timi of Ede, Oba Munirudeen Lawal, will feature an anniversary lecture to be delivered by a former Speaker of the state House of Assembly, Prof. Mojeed Alabi.

According to him, among the prominent individuals to receive special recognition awards at the event is a retired Assistant Inspector-General of Police (AIG), Wale Abass.

 Abass recently retired from Nigeria Police Force (NPF) as AIG after 35 years of service to the country.

The club is a non-partisan, socio-cultural organisation of leaders in business, academia, the professions and public service who have excelled in their various chosen fields and are contributing positively to the society, both in Nigeria and the Diaspora.

The organisation, established in 1983, engages in human capital and social development, focusing particularly on development of young people.

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Sallah: No security breaches in Ebonyi — NSCDC

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The Nigeria Security and Civil Defence Corps (NSCDC) on Tuesday, said so far there has not been any security breach as Ebonyi residents join other Nigerians to celebrate Eid-el Fitri.

The State Commandant of the corps, Dr Elijah Willie, said in Abakalikii that the celebration in the state has been peaceful.

Willie said he was monitoring operations of his personnel deployed across the state especially at security flashpoints.

“We deployed over 700 personnel across the state to ensure maximum security during the celebration.

“We are maintaining the same security deployment used during the sit-at-home directive of an outlawed group in the south east zone, on May 30.

“We are working in synergy with relevant security agencies  to ensure that there are no security breaches across the state,” he said.

He urged the citizens to continue being law-abiding and provide security agencies with relevant information to combat crime.

“I advise criminals to repent or leave the state as the NSCDC and other security agencies would make life very uncomfortable for them.

“The citizens should see security agencies as their friends because protecting their lives and properties is our business,” he said.

He thanked Gov. Francis Nwifuru for his support to security agencies in the state which, he said had made their work easier and more efficient.

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Enugu residents turn to charcoal stove as kerosene price soars

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Some Enugu residents have jettisoned their kerosene stoves, opting for charcoal stoves instead due to the high cost of kerosene which currently sells for between N1,350 and N1,600 per litre.

A market survey on charcoal on Tuesday in Enugu, revealedthat many people now prefer charcoal for cooking due to its affordable price.

A charcoal seller in Garki Market, Grace Umeh, said that although the price of charcoal had risen from N5, 000 to N8,000 per sack; the patronage had continued to soar.

Umeh said the increase in patronage was because an average family of five could use up to 20 litres of kerosene in a month for their cooking.

“So, the family spends over N20, 000 on kerosene in a month.

“On the other hand, a bag of charcoal will last for two months, no matter the pressure of use, for the same size of family,’’ she said.

Another seller at Mayor Market, ObyOkafor, said that most families were buying the commodity in large quantities due to the high cost of kerosene and other energy sources.

“We have continued to experience good and profitable business for some time now in this charcoal business,” Okafor said.

Mrs Christiana Ozor, a charcoal dealer at Achara Layout, said that due to increase in patronage, she now sells more than two bags a day.

Some buyers said that using the charcoal for cooking had saved them a lot of money.

Mr Gilbert Nnamdi, a father of four, said the new charcoal stove introduced to him by his friend had helped him to reduce the amount he spent on kerosene.

“With only N200 charcoal my wife can cook a pot of soup and a pot of rice for the family no matter the quantity of the food.

“This new charcoal stove does not take time to catch fire and does not bring out smoke while cooking with it,” he said.

Another charcoal user, who spoke on condition of anonymity, said that she had been using charcoal since the increase in the price of kerosene.

“I stopped using kerosene when the price increased to N900 and because I am afraid of using cooking gas, I quickly opted for charcoal as a means of energy cooking source,” she said.

Food vendors are not left out in the rush for charcoal because they can no longer afford the prices of kerosene and cooking gas.

A restaurant owner, MsIjeoma Dim, explained that the high costs of kerosene and cooking gas had given charcoal a sudden prominence.

MrOforAnyawu, added that charcoal sellers now made brisk business due to the price increase of other cooking energy sources.

Anyawu called on the government to make all cooking energy sources affordable and available for the masses, especially in the face of economic challenges in the country.

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