Corporate governance and strict adherence to market rules took centre stage at the 2025 Made of Africa Awards, as BUA Cement Plc emerged as the Most Compliant Listed Company on the Nigerian Exchange Ltd. (NGX). The award was presented at a ceremony hosted by the NGX Group in Lagos on Wednesday, celebrating outstanding contributions across Nigeria’s capital market ecosystem.

The recognition highlights BUA Cement’s consistent compliance with NGX listing requirements and its commitment to strong corporate governance practices—standards regarded as critical to market integrity and investor confidence. The Made of Africa Awards are designed to acknowledge excellence among brokers, issuing houses, trustees, fund managers, listed companies and other stakeholders whose activities contribute to value creation, transparency and market growth.

Several institutions and firms were also honoured for their performance across different segments of the market. First Trustees Ltd. received the award for Best Trustee by deal value, while Legend Internet Plc was recognised with the Market Debut Excellence Award. CardinalStone Securities stood out as both Equity Trader of the Year and Broker of the Year, underscoring its active role in equity market transactions.

In other categories, Capital Express Securities was named ETPs Trader of the Year, and Stanbic IBTC Stockbrokers secured the Fixed Income Trader of the Year award. Chapel Hill Denham earned dual honours as Fund Manager with the Largest Listed Fund Size and Market Operator with the Highest Value of Foreign Portfolio Investment Transactions, reflecting its influence in both asset management and cross-border investment flows.

Issuance and advisory roles were also recognised. Mainstreet Capital and APT Securities and Funds jointly won Issuing House with the Highest Number of Primary Market Equity Transactions, while Anchoria Advisory Services led in corporate bond issuances. Dangote Cement was named Best Issuer in Fixed Income Listings, and Transnational Corporation Plc received the Capital Market Excellence in Equity award.

Further accolades went to Network Capital as Most Compliant Trading Licence Holder, United Capital Securities as Best Sponsoring Trading Licence Holder, and Banwo and Ighodalo for excellence in legal advisory services in capital market transactions. Special recognition was awarded to the Debt Management Office for its contribution to fixed income market development, and to the Capital Markets Correspondents Association of Nigeria for its role in capital market reporting. Lambeth Capital and Bamboo Systems Technology were also acknowledged for onboarding the highest number of new retail investor accounts.

Speaking at the event, the Group Chairman of NGX Group, Alhaji Umaru Kwairanga, said the awards underscored the critical role market stakeholders play in strengthening investor confidence and raising standards across the capital market. He noted that the achievements of the awardees set benchmarks for performance, integrity and innovation, stressing that discipline and transparency remain essential for sustaining the trust of both domestic and international investors.

Echoing this view, the Group Managing Director of NGX Group, Mr Temi Popoola, highlighted the growing importance of collaboration and operational efficiency across the market ecosystem. He observed that as trading activities expand and investor expectations rise, cooperation among stakeholders becomes increasingly vital.

From a regulatory standpoint, the Executive Commissioner for Operations at the Securities and Exchange Commission (SEC), Mr Bola Ajomale, said the awards reinforced the importance of compliance and transparency in market development. According to him, such recognition promotes accountability and professionalism, strengthens investor confidence and supports sustainable market growth.

Also speaking, the Chief Executive Officer of Nigerian Exchange Ltd., Mr Jude Chiemeka, said recognising strong performance across the ecosystem would encourage deeper participation in the capital market and support long-term capital mobilisation.