PEARLS AWARDS Boss: Strive Towards Capital Market Stability, Growth
The President, PEARL Awards, Mr. Tayo Orekoya has said all stakeholders in the nation’s capital market must strive towards its stability, sustainability and growth.
The PEARL Awards, has since 23 years been rewarding outstanding and excellent performance by market players and companies quoted on the Nigerian Stock Exchange(NSE).
Speaking on the state of the market ahead of the 2018 awards ceremony slated for November 25, 2018 in Lagos, Orekoya said they are aware of the huge responsibility placed on their shoulders as a result of the reliability on their sense of judgment by investors and shareholders alike.
“But we are determined to continue to play our part with every sense of fairness, objectivity and equity. The Nigerian capital market, particularly investments in the Stock Exchange has recently been undergoing a most harrowing experience with sustained losses in share values, resulting in huge depletion of wealth to equity stakeholders. These losses have been caused by variety of factors. Regardless of these developments, market stakeholders including players, regulators and indeed government must continue to strive towards market stability, sustainability and growth,” he said. According to him, this year’s award is themed: “Sustaining the Winning Edge” in recognition of companies that, in spite of the challenges in the operating environment, local and international, have continued on the winning edge and outperforming others.
He explained that the awards has three main categories, which are: The Main Competitive Category Awards under which companies would be rewarded for sectorial leadership, market excellence and The PEARL of the Nigerian Stock Market.
“In Agriculture Livestock Feeds Plc, Okomu Oil Palm Plc and Presco Plc. Transnational Corporation Plc, UACN Plc and conglomerates Nigeria and Consumer Vitafoam Chellarams Plc, Unilever Goods while Nigeria Plc ( P.Z. Household Nigeria leads Plc Cusson leads the Plc Products) Bank Plc, Zenith category. Bank Plc Fidelity and GTBank Plc leads the financial services (banking), among other nominees,” he said. He noted that Honourary Awards is the second category which has PEARL CEO of the year, Outstanding Honorary Award for the capital market development, Capital Market Journalist of the year and Media Award for Capital Market Reporting.
The last is the Special Recognition Award, which has Issuing House of the year Award, Stockbrocking firm of the year Award and Good Corporate Governance Award.
Orekoya stressed that “Since inception and to date, we have been guided by the principles of fairness, transparency and objectivity in our selection process while our scientific approach in determining nominee companies remains unassailable.”