The Nigerian Stock Exchange (NSE), won the “Best Corporate Social Responsibility Award” at the 2015 African Business Awards which held in New York, USA on September 23. The award recognizes NSE’s efforts in promoting sustainability and corporate social responsibility in the capital market. On receiving the award, Mr. Oscar Onyema, the Chief Execuctive Officer of the NSE stated the company’s commitment to provide a platform for sustainable growth and development in the African economy.
NSE’s achievement at the awards further proves its achievements in ‘adopting the highest levels of international standards’ this past year, as it is also part of its corporate policies. The NSE is the biggest Exchange in West Africa which champions sustainability along four key impact areas; Marketplace, Community, Workplace, and the Environment.
In 2015 alone, the NSE has been the recipient of a total of four awards, including the “African Regulator of the year award” at the 6th African Business Leadership Awards in London, the Lagos Chamber of Commerce and Industry “Award for promoting best practice reporting and corporate disclosure”, and the ‘Financial Institution of the year award’ at the Oil & Gas Year Award, Nigeria.
Throughout the year, the NSE has affirmed its core value of transparency. In July, it released its first Sustainability Report titled ‘Connecting Nigeria to the world through a Sustainable Capital Market’. According to a stakeholder, the report demonstrates the Exchange’s commitment to increased disclosure.
Although the panic following JP Morgan and Chase Co’s announcement concerning Nigeria’s bond index caused transactions in the NSE to dip earlier this month, the second quarter renditions for the period due on 17 August 2015 went on to record a 100 percent compliance rate with the dealing member regulatory filings. In the midst of its troubles, this result counts as a milestone for the corporation, and bodes well with its zero tolerance policy implementation for infractions on submission of returns within required timelines.
Mr. Onyema also stated in New York that the NSE will continue to leverage its CSR platforms to share how it is transforming lives and communities, through efficient utilization of resources, and the support of committed employees and partners.
Mr Onyema was also nominated in the Business Leader of the Year award category, for the NSE, however Aliko Dangote, the owner of Africa’s largest industrial conglomerate, Dangote Group emerged winner.
The African Business Awards was launched in 2008 by the African Business Magazine as a platform to celebrate excellence in African business. It recognizes the individuals and companies that are driving Africa’s rapidly transforming economy, while creating new economic opportunities for citizens and communities throughout the continent.
Entries for the awards are assessed by a panel of judges who are renowned individuals chosen for their expertise on the African Business Industry. The scores are based on a set of qualitative and quantitative criteria.