By Aduragbemi Omiyale

The chief executive of the Nigerian Exchange (NGX) Regulation Limited, Mr Femi Shobanjo, has made a strong case for corporate reporting, submitting that it remains critical to enhancing market integrity and boosting investor confidence.

He gave this view at the 3rd edition of the Corporate Reporting Awards organised by his organisation and the Institute of Chartered Accountants of Nigeria (ICAN).

The event recognised listed companies on the local stock exchange for excellence in financial reporting, corporate governance, and sustainability disclosures for the 2024 financial year.

The awards, which cover companies on the NGX 30 Index, assessed performance across three pillars: Financial Reporting (35 per cent), Corporate Governance (30 per cent), and Sustainability Reporting (35 per cent).

Organisers said the 2024 assessment was conducted under strict confidentiality and objectivity, with outcomes based strictly on merit. The exercise builds on earlier editions covering the 2022 and 2023 financial years and continues to serve as a benchmark for corporate disclosure standards in the Nigerian capital market.

Mr Shobanjo highlighted NGX RegCo’s continued adoption of global reporting frameworks, including the International Financial Reporting Standards (IFRS), the Nigerian Code of Corporate Governance, and the IFRS Sustainability Disclosure Standards (IFRS S1 and S2).

According to him, the growing emphasis on environmental, social, and governance (ESG) disclosures reflects an important shift in market expectations, as sustainability considerations are increasingly becoming central to corporate strategy and long-term value creation.

“Strong corporate reporting is fundamental to market integrity and investor confidence. Beyond financial performance, there is now a clear expectation for companies to disclose how environmental, social, and governance considerations are embedded in their strategy.

“Long-term corporate success is increasingly linked to the integration of sustainability into core business decisions,” he said.

He added that the “Most Improved Company” category was introduced to encourage continuous improvement in reporting quality among listed firms.”

On his part, the president of ICAN, Mr Haruna Nma Yahaya, said corporate reporting has evolved significantly beyond compliance, becoming a strategic instrument for communicating purpose, resilience, and direction.

He noted that organisations are now expected not only to report performance but also to demonstrate how they are responding to change and creating sustainable value.

“Corporate reporting has evolved beyond compliance to become a strategic tool that communicates purpose, resilience, and direction.

“In today’s environment, organisations are expected not only to report performance, but also to demonstrate how they are adapting to change and creating sustainable value. Transparency remains central to building trust, strengthening investor confidence, and supporting market stability,” he said.

International Breweries Plc was named Most Improved Company (Overall), while First HoldCo Plc won the Sustainability Reporting Award. Zenith Bank Plc received the Corporate Governance Award, and MTN Nigeria Communications Plc clinched the Financial Reporting Award.

In the top overall category, Access Holdings Plc won Silver, Airtel Africa Plc took Gold, while Seplat Energy Plc emerged Platinum winner.

By Adedapo Adesanya

Crude oil climbed about 3 per cent on Tuesday after Iran said it had yet to decide whether to attend peace talks with the United ​States.

With one day left before the ceasefire runs out in the Iran war, US President Donald Trump said he hoped to ‌reach a deal to end the war. However, he said he did not want to extend the ceasefire, adding that the US military was “raring to go” if negotiations were not successful.

This development raised the price of Brent futures by $3 or 3.1 per cent to $98.48 a barrel, and lifted the US West Texas Intermediate (WTI) futures by $2.52 or 2.8 per cent to $92.13 per barrel.

Crude oil prices have spent most of March-April seesawing up and down, reacting to Iran’s closure of the Strait of Hormuz and President Trump’s Truth Social posts.

The lack of progress in US-Iran talks and their continuous postponement are keeping the oil market on edge, with the American President’s latest comments about no extension sending another wave of anxiety across market watchers.

Shipping traffic through the Strait ​of Hormuz, which normally handles about 20 per cent of global oil and liquefied natural gas supplies, remained broadly halted on ⁠Tuesday with only three ships passing the waterway in the past 24 hours. Over 1 billion barrels of crude have been disrupted due to the blockade.

Meanwhile, the Israeli military said Hezbollah fired rockets at Israeli troops in southern Lebanon, accusing the Iran-backed group of violating a ceasefire ahead of US-mediated talks between the government of Israel and Lebanon this week.

The European Union (EU) said it will provide guidance to airlines on how to handle issues such as airport slots, passenger rights ​and public service obligations in the event of jet fuel shortages because of the Iran war.

Countries continued to feel the effects of the war. In Germany, the biggest economy ​in Europe, investor morale declined to its ​lowest level in more than three ⁠years in April, while in the US, retail sales increased more than expected in March as the war in ​Iran boosted gasoline prices.

Ukrainian President Volodymyr Zelenskiy said the Druzhba oil ‌pipeline, which pumps ⁠Russian oil to Europe, is ready to resume operations, signalling that Ukraine now expects an over $106 billion aid package to be unblocked.

The American Petroleum Institute (API) estimated that crude oil inventories in the US fell by 4.4 million barrels in the week ending April 17. In the week prior, US crude oil inventories rose by 6.10 million barrels. Official data from the Energy Information Administration (EIA) will be released later on Wednesday.

By Adedapo Adesanya

The Nigeria Customs Service (NCS), Ibeto Seaport and Terminals Command, Port Harcourt, and the Nigeria Police Force have renewed their commitment to joint security operations at the nation’s maritime corridors, following a strategic meeting between top officials of both agencies.

According to a statement, the renewed partnership came as the Commissioner of Police, Eastern Port Police Command, CP Shuaibu Audu, paid a working visit to the Customs Area Controller, Comptroller Usman Yahaya, at the Command headquarters on April 17, 2026.

The engagement, according to a statement by the Command’s Public Relations Officer, Chief Superintendent of Customs Tangwa Emmanuel, was aimed at strengthening inter-agency cooperation and boosting operational efficiency within the port environment.

Speaking during the visit, Comptroller Yahaya described the engagement as significant, stressing that sustained collaboration among security agencies remains critical to safeguarding national assets and ensuring seamless port operations.

This visit is timely and highly appreciated. It reflects the importance of sustained cooperation among agencies entrusted with the security of our nation and the protection of critical economic assets,” he said.

He assured the police boss of Customs’ readiness to maintain strong working relations with the Eastern Port Police Command.

“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities,” Mr Yahaya added.

The Customs Area Controller noted that the synergy between both agencies has continued to play a vital role in maintaining order, facilitating legitimate trade and curbing criminal activities within the port system.

This was contained in a statement shared via the Customs official X handle.

Customs and the Police share common responsibilities in safeguarding the port environment. Synergy remains the cornerstone for achieving our collective mandate,” he stated.

He also briefed the visiting Commissioner on the operational relevance of the Ibeto Seaport and Terminals Command, reiterating the Command’s commitment to strengthening maritime security.

On his part, CP Audu said the visit was part of efforts to consolidate existing ties between the Nigeria Police Force and the Nigeria Customs Service.

“My presence here today is to reinforce the cordial relationship between the Nigeria Police Force and the Nigeria Customs Service. No organisation can function effectively in isolation,” he said.

He emphasised the importance of sustained collaboration among security agencies, particularly in securing the nation’s ports, which he described as vital to economic stability.

Synergy among security agencies is essential to addressing emerging threats. Our ports are strategic national assets, and we must work together to keep them secure,” Mr Audu stated.

The police commissioner also sought continued support from Customs officers in advancing shared security objectives.