Tony O. Elumelu Recognised For His Outstanding Contribution to the Capital Market

5th October 2018

Chairman Heirs Holdings, and Chairman, United Bank for Africa, Mr Tony O. Elumelu was recognised by the Capital Market Association of Nigeria (CAMCAN) for his outstanding contribution to the Nigerian capital markets. This recognition was announced at the CAMCAN awards ceremony held on September 25, 2018

The award ceremony organised by Capital Market Correspondents Association of Nigeria (CAMCAN), is to reward profitability, resilience, efficiency of company management, stocks with the best value offerings (Price/Book ratio), Return On Investment and shareholder-friendliness, among others.

For the banking sector, there were additional categories such as the best in risk management, measured by the ratio of Non-Performing to total Loans (NPL) and Asset Base.

The awards, according to a statement by the association were based on‎ verifiable data derived from audited financial reports of quoted companies for the year ended December 31, 2017 and March 31, 2018. The data was collated with the support of analysts at Investdata Consulting Limited.

“Although the Nigerian economy was in recession for major parts of the period under review, majority of the quoted companies distinguished themselves, hence the need to celebrate them,” the statement added.

The awards, according to CAMCAN, will be an annual event in her calendar, as a way of encouraging companies to perform optimally in the interest of their investors, whether wholesale or retail.