Nigerian Stock Exchange Honours Nestlé for Early Filing of 2012 Full Year Results

Nov 16, 2018
The company thus became the fastest filer ever since the introduction of the X-level compliance requirement by the NSE.

Chief Executive of NSE, Oscar Onyeama, commended Nestlé for setting the pace which the remaining companies would have to emulate when he received the Managing Director of Nestlé Nigeria, Martin Woolnough, on the floor of the Stock Exchange on Monday, March 11, 2013. 

He also lauded Nestlé for the recent inauguration of its N 5.4 billion state-of-the-art Distribution Centre in Agbara, Ogun State, on the strength of capacity increases, following massive infrastructural upgrades at the Agbara Factory in the last five years for volume increase. 

In commemoration of the opening of the new Distribution facility, Nestlé was honoured with a plaque and the ringing of the NSE closing bell, which was performed by Martin Woolnough.

The Nestlé Nigeria CEO was unequivocal about the company’s commitment to comply with existing regulations in all aspects of its operations, an approach, he explains, aligns with Nestlé’s culture of earning its corporate citizenship by meeting legal, financial, ethical and economic responsibilities in the communities in which the company operates.

“Good compliance helps the company to earn trust with employees, investors, governments, NGOs, as well as our customers and our consumers”, Martin added.

These compliance principles are spelt out in a number of codes, namely Nestlé Corporate Business Principles; Nestlé Management and Leadership Principles; Nestlé Code of Business Conduct; Nestlé Supplier Code and the Nestlé Corporate Compliance Programme.

The Nigerian bourse currently lists 200 equities, as well as 258 securities.

The new compliance levels, according to the NSE CEO, were geared towards promoting fairness and transparency in the bourse and, by so doing, serve as the hub for the best performing African industries and the global investor community. Ultimately, these efforts will help accelerate Africa’s economic development.