Nigerian Bank Nigeria Access Bank Plc – First Bank, Unilever, Others Named In 2010 PEARL Awards

Source: Compass, 11 Nov.2010

Set for the 15th edition of the Annual Performance Earnings and Returns Leadership (PEARL) Awards, its organizers, PEARL Awards Nigeria, has unveiled the list of 78 quoted companies that have emerged as nominees for the various categories of 2010 edition of the prestigious PEARL Awards. The awards will hold on Sunday, November 28, 2010.

Some of the nominees for the award are, Okomu Oil Palm Plc, Lafarge Cement WAPCO Nigeria Plc, GTBank, Access Bank, Berger Paints Plc, First Bank Plc, Nigerian Breweries Plc, Unilever Nigeria Plc, Fidson Healthcare Plc, Julius Berger Nig. Plc, Dangote Sugar Refinery Plc and Oando Plc among others.

Speaking on the uniqueness of the award which is reserved for companies listed on the floor of the Nigerian Stock Exchange, the President/CEO, PEARL Awards Nigeria, Mr. Tayo Orekoya, said the uniqueness of the Awards is that the methodology of the Awards is based on verifiable facts and figures.

“The awards are predicated on data sourced from financial reports of quoted companies presented at Annual General Meetings as well as stock trading performance of companies documented in the weekly trading reports of the Nigerian Stock Exchange (NSE) for the 52 weeks in each year under review and daily official lists. Only companies listed all-year round with annual reports duly filed with the NSE are included on the ranking process,” he said.

On the categories of the awards, Orekoya stated that there are three categories of award which are, Sectoral Leadership Award, Market Excellence Award and the Overall Highest Award also known as “The PEARL Award”. Sub divided into Agric/Agro Allied, Building Materials, Banking, Chemical, Breweries, Conglomerate, Healthcare, Food & Beverages, Petroleum, construction among others, the Sectoral Leadership Category is for sectors with five or more companies.

Instituted in 1995, the PEARL Awards according to its organizers among other objectives seeks to promote healthy competitiveness among quoted companies through diversification, innovation and growth, leading to improved performance on the Stock Exchange and better returns on shareholders fund.

Nigerian Bank Nigeria Access Bank Plc, First Bank of Nigeria Plc, GTB Guaranty Trust Bank Plc