For the second consecutive year, Mobil Oil Nigeria plc. has received the Pearl Award for being the best performing Company in the Oil & Gas (petroleum) sector of the Nigeria Stock Exchange. The award is given in recognition of outstanding operational, corporate and stock market performance in the 2011 year of assessment.
Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Dr. Kingsley Moghalu, who represented the CBN Governor, Mallam Sanusi Lamido Sanusi at the award presentation ceremony, described the Pearl Awards, which has been in existence for 17 years, as an initiative that is dedicated to the promotion of excellence across companies operating in Nigeria.
“The CBN is an institution that is dedicated to excellence. We support every effort to promote excellence, accountability and good corporate governance in the private sector in this country,” Moghalu said.
He pointed out that deepening the Nigerian capital market was important, saying that the capital market needed to be strong, not just in the area of equities, but also in bonds and other types of instruments. He added that strong individual company performance was critical to the overall progress of the economy.
On his part, the Chairman, Pearl Awards Board of Governors, Alhaji U.F Abdullahi, said the Awards' purpose was to reward quoted companies that out-performed their peers despite the country’s precarious economic situation.
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