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THE
NIGERIAN STOCK EXCHANGE FACTBOOK 2008 Published
Under the Authority of the Council
of: THE NIGERIAN STOCK EXCHANGESTOCK EXCHANGE HOUSE Telephone: 234-01-2660287, 2660305,
2660335, 2669978, 2661293 Telex 23567 STEX.NG Fax: 234-01-2668281, 2668724 E-mail: nse@nigerianstockexchange.biz Website:www.nigerianstockexchange.com BRANCHES: Yola Uyo EDITORIAL BOARD Prof. Ndi Okereke-Onyiuke, PhD, OON (Chairman) Mr. Kene Okafor (Editor) Mr. Farooq Oreagba (Editor) Mr. Arize Nwobu (Deputy Editor) Copyright: The Nigerian Stock
Exchange ISBN 978 0262 - 1 - 6 Design/Typesetting by: Management Information Technology Department of
The Nigerian Stock Exchange, Produced by: Pathway Communications
Ltd., 5/6, Next to AfriBank
Estate, Ilupeju - Tel: 01-7911733 |
FACTBOOK 2008 |
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PRESIDENT’S
MERIT AWARD ... rewarding excellence ... encouraging
full disclosure |
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The President’s Merit Award was inaugurated
in 1972 by The Nigerian Stock Exchange in the course of discharging its
mandate as a Self-Regulatory Organisation (SRO). The Award is aimed at
promoting corporate governance and creating healthy competition among quoted
companies. It is an annual event conceived as a follow-up to a series of
guidelines aimed at encouraging greater disclosure of information to
shareholders by the management of quoted companies. Essentially, the award is given to quoted
companies which excel in the comprehensiveness of their annual reports and
accounts and the orderly conduct of their annual general meetings. And as companies
strive to meet the conditions for this award, It is envisaged that it will
promote and sustain investors’ confidence in the management of
companies and the capital market as a whole. This is because, invariably, the
market is made more transparent as companies seek to satisfy the conditions
for selection as winners of the award. There is no gainsaying that companies
will readily subject themselves to the rigours of qualifying for the award,
seeing that ultimately their satisfaction of the elaborate selection criteria
will impact positively on the relationship between management and
shareholders, prospective investors, consumer public, etc. Winners of the award are selected on the basis of
a set of criteria made available to all quoted companies and other interest
groups like the financial press. These criteria are: · Satisfaction of statutory
requirements · Compliance with listing and
post-listing requirements · Readability of annual report
and accounts · Comprehensiveness/Innovativeness
of annual report and accounts, and · Financial Performance/Return
on Investment · Conduct of annual general
meeting Award winners are selected from a list of
industrial categories drawn from The Nigerian Stock Exchange Official List.
Categorisation is informed by the principle of comparing like with like.
Since the Award was inaugurated, there has been a growth in the number of
categories from which award winners are selected. This has arisen from the
growth in the number of companies whose shares are traded on The Nigerian
Stock Exchange. Only companies listed in the Equities Sector are considered
for the Presidential Merit Award. Over the years, The Nigerian Stock Exchange
President’s Merit Award ceremony has emerged as a distinguished forum
for interaction among stakeholders in the Nigerian capital market. It has
been graced by senior government officials who have on a number of occasions
used the forum to make policy statements on issues affecting not only the
capital market but also the larger economy. |
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Important Note: While every effort is made to ensure accuracy, no responsibility is accepted for any error, which may occur in this book. Home | The Stock Exchange| Quoted Companies | Issuing Houses | The Registrars © Nigerian Stock Exchange All Rights Reserved |
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