Dangote, First Bank, Others Win Pearl Awards

27 Nov 2012

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Aliko Dangote

Dangote Cement Plc at the weekend emerged ‘Winner of the Overall Highest Award’ at the 2012 edition of the Pearl awards.

The cement company was adjudged overall winner after it emerged winner under the Industrial Goods (Building Materials) category and the ‘Market Excellence Award’ as the stock with the highest ‘Profit Margin Ratio.’

First Bank of Nigeria Plc also won the ‘Financial Services (Banking)’ award under the ‘Sectoral Leadership’ category, while NEM Insurance Plc emerged winner of the ‘Financial Services (Insurance)’ award.
Other winners were GlaxoSmithKline, as the HealthCare (Pharmaceutical) Sectoral award winner; UAC Plc, as the Conglomerates Sectoral award winner; Nigerian Breweries as the Consumer Goods (Breweries) Sectoral award winner, amongst others.

President, Dangote Group, Alhaji Aliko Dangote, was honoured with the ‘Pearl Special Recognition Awards for Capital Market Development,’ while the Managing Director/Chief Executive Officer, Fidson
Healthcare Plc, Mr. Fidelis Ayebae, was also honoured with the ‘Pearl Most Outstanding CEO of the Year Award.’

Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Dr. Kingsley Moghalu, who represented the CBN Governor, Mallam Sanusi Lamido Sanusi, described the Pearl Awards which had been in existence for 17 years, as an initiative that is dedicated to the promotion of excellence.

“The CBN is an institution that is dedicated to excellence. We support every effort to promote excellence, accountability and good corporate governance in the private sector in this country,” Moghalu said.

He pointed out that deepening the Nigerian capital market was important, saying that the capital market needed to be strong, not just in the area of equities, but also in bonds and other types of instruments.

“We think the listing of companies in the capital market should become broader, we think a lot more telecoms companies should list and a lot more companies. But let me be clear, the CBN does not regulate the capital market; the capital market is regulated by the Securities and Exchange Commission”

President of  Pearl Awards, Mr. Tayo Orekoya, said the 2012 Sectoral Leaders’ awards were restructured in line with the sectoral categorisation released last year by the Nigerian Stock Exchange.

On his part, the Chairman, Pearl Awards Board of Governors, Alhaji U.F Abdullahi, said the event was to reward quoted companies that out-performed their peers despite the country’s precarious economic situation.

Tags: Business, Featured, Nigeria, Aliko Dangote, Building Materials

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