VENTURES AFRICA – Nigerian Stock Exchange (NSE) says at least 25 companies have emerged ‘early fliers’ in its Schedule one X-Compliance report for performing above the minimum listing standards, in terms of the timely disclosure of their audited financial account.
According to the NSE, which pledged to commend companies that portray high compliance levels, listed firms are required to file their financial statements on a timely basis in accordance with appendix 111 of the listing rules. And in a bid to encourage speedy compliance to regulations the bourse has identified the top 25 companies that filed their books before due date .
Drawing from different sub-sectors of the bourse, the companies that were listed as ‘Early Filers’ include: Dangote Cement, GTBank Plc, Skye Bank Plc, Unilever Plc, Nahco Plc, Forte Oil Plc, Mobil Oil Nigeria Plc and FCMB Group Plc among others.
“The exchange is extremely proud of these companies and will continue to show case quoted companies that imbibe high corporate governance practices.” The NSE said, while listing the identified companies – which first quarter ended in March, 2013.
The Nigerian Stock Exchange has recorded gains in excess of N5 trillion ($31 billion) – growing from 2012's total market capitalization of N6.7 trillion ($41.6 billion) to 2013's N11 trillion ($68.3 billion) Early this week, the bourse also signed an agreement with 12 market data vendors to enhance the distribution of data in the market, which will help in transforming it, and making it more accessible to international investors.
Ehidiamhen Okpamen is a staff writer for Ventures Africa, a Pan-African business magazine and news service company. He attained his Bachelor's Degree in Economics at the American University of Nigeria before going further to obtain a Masters Degree of Science in International Business at Coventry University, United Kingdom. He was recently inducted into the Institute of Strategic Management of Nigeria as an associate member. 
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