Seplat Energy joins EITI membership ranks
Seplat Energy Plc has officially become a member of the Extractive Industries Transparency Initiative (EITI), further solidifying its commitment to transparency, accountability, and global best practices.
The energy company has been recognised as a registered EITI Supporting Company for 2024, a significant step that was acknowledged on the EITI website and across its communication platforms.
By becoming an EITI Supporting Company, Seplat Energy is reinforcing its dedication to transparency within the extractive sector while contributing to the development of international governance standards, as stated by the company in a press release on Thursday.
This affiliation not only enhances the company’s corporate credibility but also strengthens its financial standing and encourages deeper engagement with governments, industry peers, and civil society.
Through its support of the EITI, Seplat Energy is able to demonstrate leadership in the industry, improve its access to finance through transparent reporting, and keep pace with evolving investor and regulatory expectations. This partnership also builds trust and reinforces the company’s commitment to responsible business practices.
On a local level, Seplat Energy stands to benefit from the EITI framework by bolstering its social license to operate, reducing investment risks, and aiding in capacity-building efforts. The initiative promotes fairness within the industry and fosters greater collaboration with key stakeholders.
The Board of Directors of Seplat Energy has affirmed its commitment to robust corporate governance, ensuring that the company adheres to both Nigerian and UK corporate governance regulations, as well as international best practices.
The Board is fully aware of the Corporate Governance Guidelines issued by the Securities and Exchange Commission, the Nigerian Code of Corporate Governance 2018 issued by the Financial Reporting Council of Nigeria, and the UK Corporate Governance Code 2024 issued by the UK Financial Reporting Council, and it ensures the company’s compliance with all of these regulations.