NSE lauds Nigerian Breweries commitment to corporate governance

By Chioma Obinagwam

The Chief Executive Officer(CEO) of The Nigerian Stock Exchange, NSE, Mr. Oscar Onyema has commended Nigerian Breweries Plc for her commitment to corporate governance standards.

The NSE CEO made this commendation when he paid a retention visit to the management of Nigerian Breweries Plc last weekend.

Speaking during the visit, Mr. Onyema said Nigerian Breweries was qualified to join the Exchange’s Premium Board, the listing segment for the elite group of issuers that meet the Exchange’s most stringent corporate governance and listing standards.

The NSE CEO who led officials of the Exchange on the visit noted that part of his agenda is to consolidate his relationship with quoted companies on the Exchange.

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He said his team will strive to ensure the Exchange continues to be a more robust platform that will attract the confidence of local and foreign investors.

While welcoming the visitors earlier, the Managing Director of Nigerian Breweries, Mr. Nicolaas Vervelde congratulated Mr. Onyema for securing another five year tenure in office and praised his efforts for the improvement in the Exchange geared towards making it one of the best in the world.

Mr. Vervelde intimated the CEO and his team that Nigerian Breweries has grown from its humble beginnings as a company that started 70 years ago with one brewery to eleven breweries spread across the country. He disclosed that the company has over 4000 workers in its direct employment and is also one of the highest dividend paying entities with 120,000 shareholders.

Mr Vervelde reiterated that corporate governance remains the only tool to increase the credibility of The Exchange and urged The NSE to continue with improvements in that regard.