MTN, CardinalStone, VFD Group Emerge Winners At 2023 NGX Awards

  • Contributions By Lagos Govt, DMO, CAMCAN Recognised Too

Caption: Representative of the Director=General of the DMO, Mrs. Patience Oniha receiving the Awards from Temi Popoola, while Mr. Babalola, an official of the NGX looks on.

Telecommunications giant and one of the biggest by market capitalisation MTN Nigeria Communications Plc, VFD Group Plc, CardinalStone Securities and Chapel Hill Denham were among big winners that emerged at the annual Made of Africa Awards organized by Nigerian Exchange Limited (NGX) on Wednesday in Lagos.

While MTN won the Most Compliant Listed Company award, VFD Group was recognised as Listing of the Year, and CardinalStone Securities was named Equity Trader of the Year.

Caption: Representative of Governor Babajide Sanwo-Olu receiving the award from Mr. Babalola on Wednesday in Lagos.

Chapel Hill Denham, however, emerged tops in two categories- Cross-Border Trade Facilitator of the Year and Fund Manager with the Largest Listed Fund Size. Both Cordros Capital and Kairos Capital won the award for the Issuing House with the Highest Number of Primary Market Transactions (Equity Category).

Pilot Securities Limited was named Most Compliant Trading License Holder; Vetiva Capital Management as the ETPs Trader of the Year, Regency Asset Management Limited as Fixed Income Trader of the Year; FCMB Capital Markets Limited as the Issuing House with the Highest Number of Debt Issuances (Corporate Bonds) and Banwo & Ighodalo as the Best Solicitor in terms of Value of Deals.

Caption: Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN), Mrs. Chinyere Joel-Nwokeom (middle), receiving the special recognition award, while the Chief Executive Officer of the NGX Limited, Temi Popoola (right), looks on

Specifically, for their contributions to the growth and development of the Nigerian capital market ecosystem during the period, special recognition awards were given to the Lagos State Government as the State Government with the Largest Sub-National Debt Instrument Issuance, and the Debt Management Office in the Capital Market Excellence categories.

The Capital Market Correspondents Association was also recognized for its substantial contributions to fostering capital market activities and influencing public perception of the market.

Welcoming the awardees and guests at the event, Chief Executive Officer of Nigerian Exchange Limited, Temi Popoola, said the Made of Africa Awards is ultimately aimed at encouraging more listings, transactions, better compliance and stimulating innovation in the capital market.

Specifically, the NGX MOA Awards, the organisers also noted, recognizes organizations and individuals within the Nigerian capital market ecosystem that demonstrate exceptional performance in value delivery and sustainable impact, and act as key drivers in strengthening the Nigerian and African capital markets.

According to Popoola, “these awards serve as a platform to showcase the best the capital market has to offer, inspiring more private sector organizations, states and the federal government to list shares, issue debt securities, and inject fresh capital into the market. Through NGX Made of Africa, we remain committed to encouraging and incentivizing our partners, and promoting inclusivity as we contribute to the development of the capital market.”

He added that NGX takes pride in leading the way in innovation, excellence, and corporate governance best practices, hence the importance it attaches to “Rewarding innovation, excellence, and adherence to existing rules and regulations as fundamental to stakeholder collaboration in our market.”

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