Oando PLC was recently awarded the Nigerian Stock Exchange (NSE) Presidential Merit Award for the Best Quoted Company in the Downstream Petroleum Marketing Sector.
This brings to five the number of times Oando has won the award. It won in 2001, 2003, 2004, 2006 and 2008. In 2003 and 2004 it also won the coveted Best Quoted Company on the NSE.
Oando CEO Wale Tinubu said: “This award underpins the degree of professionalism and seriousness Oando has devoted to corporate governance, which has been reflected in our high level dealings with the NSE. Oando is a stickler for excellence and we appreciate the efforts of all the stakeholders that have made this award possible.”
The NSE based Oando’s qualification on the company’s adherence to post-listing requirements and other indices of Corporate Governance, financial performance and return on investment to its shareholders.
In being named winners Oando fulfilled the following selection criteria:
- Satisfactory compliance with statutory requirements
- Compliance and adherence to listing and post-listing requirements of the NSE
- Readability and creativity and comprehensiveness of Annual Reports and Accounts
- Financial Performance/Return on Investment
- Proper conduct of Annual General Meeting
