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Suspense as Corporate Giants Battles For 2017 Pearl Awards

Proshare

Thursday, November 23, 2017 05:43PM /NSE 

As indicators from the office of National Bureau of Statistic (NBS) continues to suggest that Nigeria’s recovery from recession is a reality, companies listed on the floor of Nigerian Stock Exchange (NSE) are set for the 2017 PEARL Awards slated for November 26, 2017 at the prestigious Eko Hotel & Suite Lagos. Judging from what happened in the last edition, there is high level of suspense’s among competing organization based on their respective performance in 2016 financial year. 

However, despite the unfriendly business environment, some organizations were able to lift their heads and shoulders above the turbulent economic situation. These companies that have been found worthy among their peers will be battling for different categories of awards, including the ultimate coveted overall highest award, The Pearl of the Nigerian Stock Market. 

Commenting ahead of the awards on Sunday, President Pearl Awards, Tayo Orekoya explained that the awards will be in three main categories. According to him, these include “the Main Competitive Awards Category, which are Sectoral Leadership Awards, Market Excellence Awards and Overall highest Award, The Pearl of the Nigerian Stock Market. 

The second Awards is the Honorary Awards Category, which comprises, PEARL Chief Executive Officer (CEO) of the Year Award. Special Recognition Award for Capital Market Development, Capital Market Journalist for the year and Media Award for Capital Market Reporting. The third category is Special Recognition Award Category, where we have, the Issuing House of the Year Award, Stock Broking Firm of the Year Award and Good Corporate Governance Award. 

Lekan Adekoya, Secretary to the Board of Governors of PEARL Awards, explained that the methodology for selecting and determining winning companies are done in a way that stimulates healthy competition among the corporate entities. He pointed out that these are done by using data sourced from audited financial reports of quoted companies, weekly trading reports and daily official lists of the Nigerian Stock Exchange for the period under consideration, which are assessed utilizing credible parameters and tools of data evaluation that meet international standards. 

On the objectivity of the Pearl Awards Toyin Fajana, Chairman of the Central Working Committee (CWC) stressed that in determining the company that will clinch the coveted PEARL of the Nigerian Stock Market Award, the organizers assesses and identifies the Sectoral Leader with the highest aggregate scores on the Market Excellence category. While the next two companies with higher points would be nominated as first and second runners-up in this Overall Highest Category. 

The PEARL Awards, which simply means, “Performance, Earnings And Returns Leadership Awards”, was instituted in 1995, with an endorsement by the Securities and Exchange Commission (SEC), to reward the annual efforts of quoted companies listed on the floor of the Nigerian Stock Exchange and stakeholders that have contributed towards the development of the Nigerian capital market. 

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