Stock Market

PEARL Awards seeks improved confidence in stock market

The President of the premium Capital Market Awards project, PEARL Awards Nigeria, Mr Tayo Orekoya has urged regulators, stakeholders, and other stakeholders in the financial sector to facilitate innovation that will engender the restoration of investors’ confidence in the Nigerian capital market.

Orekoya spoke during a press conference in Lagos, ahead of its upcoming 25th edition of the Awards.

“To assure the depth, growth, and sustainability of our markets, PEARL Awards Nigeria hereby implores major stakeholders including government, regulatory authorities, market players, and indeed all stakeholders of our capital market in collaboration with the government to continue to strive towards achieving market growth, stability, and innovativeness,” he said.

Commending the efforts of corporate companies over their resilience during the COVID-19 pandemic, he said more companies had tapped into the opportunities availed by the pandemic.

He said, “Conversely, some other corporations have seized the initiatives provided by the economic challenges to latch onto opportunities availed by the situation.

“Regulators in particular must intensify efforts towards utilising innovative approaches towards engendering restoration of investors’ confidence in the market and deepening the market for enhanced development.

“As a partner in progress with capital market regulators, our focus is to continue to promote healthy competitiveness, and reward outstanding performance, thereby enhancing the vibrancy of the market.

“We are convinced that this will go a long way to compliment the efforts of the regulatory authorities in delivering the market that we all desire, thereby maximising stakeholder wealth and contributing to national economic development.”

Speaking on the 25th edition of the awards scheduled to hold in November in Lagos, he assured the stakeholders that the Pearl Awards would continue to be fair and objective in its selections.

He said, “We will continue to be guided by the principles of fairness, transparency, and objectivity in our selection process while our scientific approach in determining nominees and ultimate winning companies remain unwavering.

“We are not unaware of the huge responsibility placed on us as a result of the reliability of our sense of judgment by investors and shareholders alike but are determined to continue to play our part with every sense of responsibility towards achieving the objectives for which PEARL Awards was instituted.”

He added, “This year’s edition of the aqwards will be in three main categories consisting of the main competitive awards category, and the honorary awards category.

“The PEARL of the Nigerian Stock Market award which remains the overall highest award will be announced at the awards night.”

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