Nigerian Breweries Lauds NSE Capital Market Development Initiatives

By Dipo Olowookere

Managing Director of Nigerian Breweries Plc, Mr Jordi Borrut Bel, has commended the management of the Nigerian Stock Exchange (NSE) for its various programmes put in place to improve the nation’s capital market.

Mr Bel, who was recently appointed into the position, led his team to the stock market regulatory agency in Lagos.

The Nigerian Breweries team was welcomed by the Chief Executive Officer of the NSE, Mr Oscar Onyeama.

Mr Bel acknowledged the pivotal role the Exchange has been playing in the sustained growth and development of the capital market and the Nigerian economy in general, over the years.

While restating the commitment of Nigerian Breweries to sustaining its relationship with the NSE, Mr Borrut Bel added that the company has over the years excelled in compliance and corporate governance matters.

“I am aware that we have over the years received awards and recognition from the NSE including The NSE President’s Merit Award in the Brewery Sector, The NSE Quoted Company of the Year Award and The NSE CEO’s Distinguished Award for Compliance, and The NSE CEO’s award as the Most Compliant Listed Company on The Nigerian Stock Exchange.”

He pledged the commitment of the company to sustain its high performance in matters of corporate governance and compliance.

Mr Borrut Bel also congratulated The Exchange for the recent historic high equity market capitalization of N15 trillion and for being the best performing Stock Exchange in Africa and No 3 in the World in 2017.

In his remarks, Mr Onyeama commended the Nigerian Breweries Plc for its commitment to corporate governance standards.

Mr Onyeama, who was represented by Ms Tinuade Awe, Executive Director in charge of Regulation of the NSE, described the brewer as an exemplary corporate citizen.

Ms Awe explained that part of the NSE’s core mandate is to ensure that it continues to provide a robust platform that will attract the confidence of local and foreign investors.

The Nigerian Breweries team was later invited to the trading floor where Mr Borrut Bel performed the traditional ringing of the bell to close the market for the day.

At the brief closing ceremony, the Doyen of Stockbrokers, Mr Sam Ndata, commended Mr Borrut Bel and his team for the visit and lauded Nigerian Breweries for its sustained good return on investment for the company’s shareholders.