PEARL Awards Project Hails NSE, Index Rises Further

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PEARL Awards Nigeria has applauded the management of the Nigerian Stock Exchange (NSE) for its focused initiatives and innovations towards revitalising the capital market.

The President/CEO of PEARL Awards Nigeria, Mr. Tayo Orekoya, gave the commendation during a recent courtesy visit of the PEARL Awards Board of the NSE in Lagos.

Orekoya specifically complimented the Chief Executive Officer (CEO) of the NSE, Mr. Oscar Onyema for his astute and visionary leadership which has culminated in recent giants strides by the exchange.

According the major achievement is the growing restoration of investors’ confidence, resulting in higher trading transactions, robust yield and returns to investors as well as growing market capitalisation.

According to a release signed by PEARL Awards Board Secretary, Olalekan Adekoya, Orekoya thanked the exchange for its support for the awards project in the past years especially on the provision of relevant data that form part of the assessment process of the awards. He also solicited for continued support of the NSE for the PEARL Awards Project.

Throwing more light on the project, Orekoya restated that the awards was instituted in 1995 to reward quoted companies for actual operational performance based on verifiable facts and figures. This, according to him, has endeared the awards to the capital market stakeholders over the years.

In his response, Onyema ascribed the level of success achieved by the NSE to team work by the management and staff of the exchange. He commended the PEARL Awards for its resilience and ability to weather the storm over the past 22 years of its existence. He congratulated the Board of Governors of the PEARL Awards Project for staying the course both in the good and bad economic climates with a pledge to continue to support the awards as one of the initiatives dedicated to promoting market development.

Onyema assured the PEARL Awards Board that the NSE would be duly represented at this year’s Awards Nite scheduled for November 26, 2017 in Lagos.

Meanwhile, the NSE Al-Share Index rose further yesterday, growing by 0.25 per cent to close at 36,622.85.

The appreciation recorded in the share prices of Seplat, UBA, Dangote Sugar, Zenith Bank, and FBN Holdings Plc was mainly responsible for the gain recorded in the index.

The total value of stocks traded on the floors of was N4.66 billion, up by 157.44 per cent from N1.81 billion posted the previous day.