BUA Cement Plc has been named the Nigerian Exchange’s Most Compliant Listed Company for 2025, an award that highlights adherence to market rules and corporate governance standards at a time when regulators and investors are pressing for stronger discipline across Nigeria’s capital markets.
The recognition was announced on Wednesday in Lagos at the Made of Africa Awards, an annual event hosted by NGX Group to honour brokers, fund managers, issuers and other market participants for performance, compliance and market impact.
BUA Cement’s award places it at the centre of a broader push by the exchange to reward transparency and rule-based conduct among listed companies, as Nigeria seeks to deepen investor confidence and attract long-term capital.
The Made of Africa Awards span multiple segments of the market, recognising excellence in trading, asset management, capital raising and advisory services. This year’s recipients reflected the diversity of participants shaping activity on the exchange.
First Trustees Ltd. won Best Trustee by deal value, while Legend Internet Plc received the Market Debut Excellence Award for its entry into the public market. CardinalStone Securities emerged both Equity Trader of the Year and Broker of the Year, underscoring its dominance in equity market activity. Capital Express Securities was named ETPs Trader of the Year, and Stanbic IBTC Stockbrokers took the Fixed Income Trader of the Year award.
In asset management and investment banking, Chapel Hill Denham was recognised as Fund Manager with the Largest Listed Fund Size and as the Market Operator with the Highest Value of Foreign Portfolio Investment Transactions. Mainstreet Capital and APT Securities and Funds jointly won Issuing House with the Highest Number of Primary Market Equity Transactions, while Anchoria Advisory Services was honoured for leadership in corporate bond issuances.
Dangote Cement received the award for Best Issuer in Fixed Income Listings, reflecting its continued presence in the debt capital market. Transnational Corporation Plc was recognised for Capital Market Excellence in Equity, while Network Capital emerged Most Compliant Trading Licence Holder. United Capital Securities won Best Sponsoring Trading Licence Holder, and Banwo and Ighodalo was acknowledged for legal advisory value in capital market transactions.
Special recognition awards were given to the Debt Management Office for its role in the development of Nigeria’s fixed income market, and to the Capital Markets Correspondents Association of Nigeria for contributions to capital market reporting. Lambeth Capital and Bamboo Systems Technology were recognised for onboarding the highest number of new retail investor accounts, highlighting efforts to broaden participation in the market.
Speaking at the event, the chairman of NGX Group, Umaru Kwairanga, said the awards reflected the role of market participants in strengthening investor confidence and raising standards across the ecosystem. He said the achievements of the awardees set benchmarks for integrity, performance and innovation, adding that sustained transparency and discipline were critical to maintaining the trust of both domestic and international investors.
The group managing director of NGX Group, Temi Popoola, emphasised the need for collaboration and operational efficiency as the market evolves. He said cooperation among stakeholders was becoming increasingly important as trading products expand and investor expectations grow more complex.
From a regulatory standpoint, Bola Ajomale, executive commissioner for operations at the Securities and Exchange Commission, said the awards reinforced the importance of compliance and transparency in market development. He added that accountability and professionalism were essential to preserving market integrity and supporting sustainable growth.
Jude Chiemeka, chief executive of Nigerian Exchange Ltd., said recognising strong performance across the ecosystem would encourage deeper market participation and support long-term capital mobilisation.