Lagos — The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has described African companies as the hub of world economy.

Oscar made this known during the opening presentation of Forbes Africa top listed West African Companies Awards ceremony in Lagos on Tuesday night.

He said: "All too often the lists of the world have overlooked the success of African companies. Night like this shows how successful African companies are in the progress of the world economy."

Also speaking at the ceremony was vice chairman ABN 360 Group, Mr. Rakesh Wahi, parent company of CNBC Africa, Forbes Africa and ABN Productions.

Mr. Wahi said: "I am delighted to host these awards in Lagos which is the commercial capital of Africa's second largest economy. We have a five year history of analysing and reporting economic and commercial data on the continent, and now believe we are in a unique position to begin celebrating the success of African companies and business leaders who have performed exceedingly well despite the economic crisis.

"These awards will be the most sought after on the continent especially because of the brands associated with them and the high level of diligence and integrity connected with them."

He concluded the event by congratulating Mr. Aliko Dangote and Dangote Group for winning the award for the top West African company.

The Forbes Africa top listed West African Companies is a celebration of the success of risk takers and job creators. It is an important initiative that aims to encourage such organisations to strive for sustained excellence and also promote their profiles not only in their home countries but around the world.