NSE Recognises Market Operators for Performance, Compliance

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Goddy Egene

The Nigerian Stock Exchange (NSE) has announced winners of the 2018 NSE CEO Awards. The awards were designed to reward and motivate listed companies, dealing member firms, fund managers and issuing houses to attain higher levels of corporate governance, compliance and performance that reinforce investor confidence in the Nigerian capital market.

This year, NSE increased the award categories from three to 10 to reflect the dynamic nature of the market.

Pilot Securities Limited was named the ‘Most compliant dealing member firm’ for 2018, having demonstrated the highest degree of compliance with the rules and regulations governing dealing members of the exchange in 2018.

Stanbic IBTC Stockbrokers Limited won two awards for dealing member firm with the highest volume and dealing member firm with the highest value of trades.

Stanbic IBTC Capital Limited, Vetiva Capital Management Limited and Cordros Capital Limited were joint winners of the award for issuing houses with the highest number of primary market transactions (equity). FBNQuest Merchant Bank Limited, ARM Securities Limited and Stanbic IBTC Capital Limited were adjudged winners of the award for issuing houses with the highest number of debt issuance (corporate bonds).

The award for issuing houses with the largest value in a single deal went to Stanbic IBTC Capital Limited and Union Capital Market Limited, for facilitating the highest value of deals on the exchange. First City Asset Management Limited won the award for fund manager with the largest listed fund size. According to the exchange, this award takes into cognisance the cumulative size of new funds listed on the exchange in 2018.

Seplat Development Company Plc emerged winner of the award for issuer with the highest number of disclosures, for issuing the highest number of non-structured disclosures during the year under review. Nigerian Breweries Plc was named the most compliant listed company, for being an early filer of financial statements, complying with the Securities and Exchange Commission (SEC) Code of Corporate Governance with zero sanctions received during the year under review.

Speaking on the awards, the Chief Executive Officer of NSE, Mr. Oscar Onyema, said: “I congratulate and honour all the winners of The NSE CEO Awards. These companies have demonstrated capabilities and commitment towards quality development and exceptional performance; high ethical standards; compliance with the Rules and Regulations of the exchange, and other applicable laws and regulations that leave no room for any penalties; while acting as key drivers in strengthening the Nigerian capital market.”

According to him, the awards offer winners a year-round marketing opportunity and a big morale-booster for companies who have made extraordinary contributions to the Nigerian capital market and exemplify the highest standards.