FMDQ, Dangote Cement, Tanscorp, Zenith Bank, Others Win Capital Market Awards

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Goddy Egene

Six companies listed on the Nigerian Stock Exchange (NSE) were recognised for their outstanding performances in the 2018 financial year despite the challenging operating environment. The companies were recognised with the Capital Market Correspondents Association of Nigeria (CAMCAN) Capital Market awards, for coming out tops in their respective sectors. Also, FMDQ Securities Exchange won an award for sustaining the debt capital market development.

The companies are: Dangote Cement Plc, Zenith Bank Plc, Access Bank Plc, Nestle Nigeria Plc, Seplat Petroleum Development Company Plc,and Transnational Corporation of Nigeria(Transcorp Plc). The awards, which were based on empirical data, saw Dangote Cement Plc emerge as the most profitable company on the NSE in 2018.

Zenith Bank Plc won the award for the most profitable bank while Nestle Nigeria Plc was recognised as the most profitable company in the consumer goods sector.

Seplat Petroleum Development Company emerged as the most profitable company in the oil and gas sector. Access Bank Plc went home with the award of the lowest non-performing loans, while Transnational Corporation of Nigeria Plc emerged the most improved company in the conglomerates sector.

Presenting the awards to the winners, one the Patrons of CAMCAN and Managing Director, APT Securities and Funds Limited, , Mallam Garba Kurfi, lauded the listed firms and the FMDQ Securities Exchange Plc for their outstanding performances in development of Nigeria’s economy.

According to him, the companies deserved the awards considering their commitments and resilience despite the tough operating environment. The awardees expressed their gratitude to the association and promised to continue to strive to sustain their performance.

According to CAMCAN, the companies were rewarded using various measurable criteria based on empirical data.

“In spite of the challenging operating environment, these companies among others companies have shown resilience and delivered impressive performance, while rewarding investors with significant returns. They therefore deserve to be celebrated,” the association said.