The CSCS received the prize at the BusinessDay Nigerian
Investor Value Awards (NIVA), which took place recently in Lagos.
According to the statement from the capital market
substructure saying Stakeholders in the Nigerian capital market at the forum
commended the CSCS and its leadership for resilience and continuous investment
in market-wide initiatives aimed at facilitating the growth and wellbeing of
all stakeholders.
The event, previously known as the Top CEOs and Next Bulls
Awards, has been jointly organized by BusinessDay and the then Nigerian Stock
Exchange now Nigerian Exchange Limited (NGX) since 2015. It was conceived as a
platform to celebrate the CEOs of listed companies who have delivered superior
value to investors through operating efficiencies, organizational values, and market
engagement activities.
The Awards was further expanded to include the CEOs of
carefully vetted non-listed companies that could fill a pipeline of initial
public offering (IPO) candidates, particularly companies in which active and
informed investors ready to consummate their shares when called upon by
shareholders to take them public.
While receiving the award, the Chief Executive Officer of
CSCS, Haruna Jalo-Waziri, said the award is a call for continuous improvement
and a boost to CSCS’ tenacious commitment to delivering on market-efficiency
initiatives.
“I would like to express my profound gratitude to our
regulator, the Securities and Exchange Commission as well as the Board of
Directors of CSCS for their diligent oversight and for ensuring sound
governance which I believe is essential to every corporate’s sustainability and
long-term value creation.” He added.
In his words: “As we relish this recognition of CSCS as the
“Market Choice”, we reiterate our kaizen philosophy of continuous improvement
and restate our enthusiasm in furthering our partnerships with esteemed
participants and broader stakeholders in our quest for mutual prosperity and in
our drive towards enhancing market efficiency and growth.”
In his remark, the Publisher, BusinessDay Media Limited, Mr.
Frank Aigbogun, said the awards were indeed apt given the unprecedented
challenges posed by the Covid-19 pandemic last year. According to him, the
award recognized organisations that had displayed resilience and tact in the
midst of adversity and uncertainty.
The liquidity of the shares of CSCS on the NASD-OTC platform
reinforces the strong appetite and demand of retail and institutional
shareholders to own the Depository’s shares.
For the past three years, the ordinary shares of CSCS,
though not yet listed on the floor of the NGX, actively trades on the Nigerian
Autonomous Securities Dealers Over-the-Counter (NASD-OTC) Exchange and has
emerged as the most liquid and attractive stock on the NASD-OTC.
The share of CSCS has rallied 93% over the past three years,
in addition to the company growing its dividend payment by 36% over the same
period. Remarkably, a total of 1.64 billion units of CSCS’ shares, valued at
N27.06 billion (based on current valuation of N16.50 per share) and representing
38.8% or one-third of the total shares outstanding of the company has been
traded over the past three years.
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