Yinka Kolawole
10 November 2008
Two of Nigeria's foremost primary mortgage institutions (PMIs), Union Homes Savings & Loans Plc and Aso Savings & Loans Plc, are among the 45 quoted companies short-listed by the National Council of the Nigerian Stock Exchange (NSE) for its 31st Annual President's Award for the 2007 financial year.
A statement from the NSE said the nominees were short-listed on the strength of their adherence to NSE's post-listing requirements.
The statement said that over 300 companies had won the prestigious awards over the years, noting that this year's winner in each category would be announced on Thursday November 13, 2008.
The award was instituted by the Exchange in 1972 to promote healthy competition and culture of corporate governance among quoted companies.
Union Homes and Aso Savings along with United African Company Property Development Plc, were short-listed from the real estate sector, for adhering to the post-listing requirements of the stock exchange.
According to the statement, companies were short-listed from various sectors of the economy, with two companies from the agriculture/agro allied sub-sector, five from the banking sub-sector, two from the brewing industry, three companies each from the conglomerates, construction and downstream petroleum sub-sectors while two companies were nominated from the emerging market.
In addition, two companies were chosen from the engineering technology sub-sector, while three companies each were short-listed from the food and beverages, healthcare, insurance, printing, chemical and real estate sub-sectors.
Access bank Plc, First Bank of Nigeria Plc, First City Monument Bank Plc, Guarantee Trust Bank Plc and Oceanic Bank Plc were nominated from the banking sub-sector. Intercontinental WAPIC Insurance Plc, Standard Alliance Plc and Sovereign Trust Plc were short- listed from the insurance sub-sector.
African Petroleum Plc, Mobil Oil Nigeria Plc and Oando Plc were the nominees from the downstream petroleum sub-sector, while Dangote Sugar Refinery Plc, Flour Mills Nigeria Plc and Nestle Plc emerged from the food and beverages sub-sector.
The short-listed companies also included GlaxoSmithKline Nigeria Plc, May and Baker Nigeria Plc and Neimeth International Pharmaceuticals Plc from the healthcare sub-sector.
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