The Nigerian Stock Exchange has identified Capital Assets Limited, a Lagos-based capital market operator, as the best managed stockbroking firm in Nigeria.
The Exchange, at its end-of-year ceremony in Lagos awarded the “Most Compliant Dealing Member Firm” award to Capital Assets.
The Chief Executive Officer, NSE, Mr. Oscar Onyema, explained that Capital Assets emerged top on the list in all the four criteria used for selection.
He outlined that the criteria for the award included compliance with the minimum operating standards of the Exchange; adequate and timely rendition of statutory and regulatory returns; zero complaint by investors and all other stakeholders and high ethical standards and impressive customer service that left no room for any penalty.
Onyema commended Capital Assets for operating with global best practice, while also urging the company to continue to show leadership and raise the flag of Nigeria high in the international markets.
In an industry-wide review, Capital Assets scored 100 per cent in all the areas of the MOS. The NSE had introduced the MOS in April 2014 as part of efforts to develop a stronger, stable and sustainable capital market.
The MOS is a set of standards prescribed by the Exchange for dealing members to develop robust controls; strong governance framework and effective human capital that will enable them to achieve best-in-class operations in order to compete on a global level for the benefit of investors and the Nigerian capital market.
According to the Exchange, the main objective of the MOS is to ensure effective operational, technological and governance structures among the dealing members of the Exchange.
The Exchange had stated that given the dynamic nature of the capital market, the diverse mix of local and foreign investors could only invest when confident that dealing members will operate pursuant to clearly defined standards comparable to those broker dealers in developed markets in terms of size, skill, technology and organisational governance.
The Vice-Chairman and Chief Executive Officer, Capital Assets Limited, Mr. Ariyo Olushekun, was quoted to have said that winning the award within the diverse mix of foreign and indigenous operators had further confirmed the quality of human capital in the company.
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