Seplat Energy Gets ICAN-NGX RegCo Corporate Reporting Award

Seplat Energy Plc, leading Nigerian independent energy company, has won the Silver Category Award at the ICAN-NGX Regulation Limited (NGX RegCo) Corporate Reporting Award ceremony held on the 15^th of April 2025, at the Nigerian Exchange Group House in Lagos.

Seplat was ranked 3^rd place out of the top 10 nominated companies listed on the Nigeria Exchange Limited (NGX), while MTN Nigeria and Dangote Cement clinched the Gold (2^nd place) and Platinum (1^st place) respectively.

The assessment framework for choosing the three (3) best awardees was underpinned by the 3 core evaluation criteria with the following specific weightings:

1. Financial Reporting (35%). Assessment of the quality, accuracy, and transparency of financial disclosures, with a strong emphasis on compliance with international standards and key focus on -
   1. Adherence and compliance with relevant IFRS standards and regulatory requirements.
   2. Transparency and clarity in reporting based on the extent to which financial statements are accessible and understandable to investors and other stakeholders.
   3. Risk management and internal controls practices (i.e., assessment of the effectiveness of internal control systems in mitigating financial risks).
2. Corporate Governance (30%). Assessment of the robustness of governance structures, board oversight, and accountability frameworks, with key focus on –
   1. Board composition and independence with specific consideration on board diversity, expertise, and independence.
   2. Governance disclosures around transparency in board operations, executive remuneration, and shareholder engagement.
   3. Risk oversight and ethical practices based on the evaluation of mechanisms put in place to manage operational and strategic risks, as well as ethical conduct.
3. Sustainability Reporting (35%). Assessment of how effectively environmental, social, and governance (ESG) factors are integrated into corporate reporting with key focus on -
   1. Disclosure of material ESG risks and opportunities in alignment with internationally recognized sustainability reporting standards.
   2. ESG performance metrics and targets based on the quality and consistency of metrics used to report sustainability performance.
   3. Integration of ESG into business strategy based on the evaluation of evidence around ESG considerations influencing strategic decision-making and long-term planning.

The company was represented at the award by the General Manager Finance, Adetaiwo Osindero and the Associate General Counsel – Corporate & Compliance, Adebowale Eboda.