The Pearl Of Nigerian Award Is Here

Awards
initiatives around the world have become of deep interest, basically
because of what they represent. Awards given in recognition of sterling
performance are known to make clear statements about specific
achievements of outstanding people or organizations that stand out based
on predetermined parameters. 
Our
world may have become more innovative and glamorous, but the desire to
continually recognize achievement and appreciate such honours underscore
an integral part of being human.

Going
back in time, Awards or Trophies for victories or achievements in
ancient times often took the form of magnificent statues, columns and
arches. Following a successful battle, Greek troops often constructed
trophies from the arms and armour of captured opponents. Whatever their
form, such ancient trophies were generally dedicated to gods. At the
original Olympic Games in Greece, victors were crowned with twisted
olive branches. Simple as it was then, this was symbolic and highly
valued because such awards were only for winners as runners-up do not
receive awards at all.
Great achievements are accompanied by great results. Sometimes
they are accompanied by rewards too. Prizes are given to the top
achievers in fields ranging from sports to politics, to science, to
writing. Though they take different forms, all of these prizes are meant
to highlight and celebrate those individuals or institutions that have
ascended to the top of their game. Currently, awards categories can be
classified globally into the following areas: 
Business
and Management, Entertainment and Arts, Fashion, Food, Games and
Sports, Humanitarianism, international relations, and service; Hobby and
special interest, Humanities, Military and patriotic honours, Science
and Technology.
 
There are top 10 global awards categories worth noting and they include the following:

1. The Nobel Prize

This
prestigious award is named for Alfred Nobel, who created dynamite. The
first Nobel Prize was presented in 1901, and the number of fields in
which it is presented has since increased to six. Prizes are awarded in
chemistry, physics, literature, medicine, economics and peace. In
addition to receiving a diploma and a gold medal, winners in each
category also receive a monetary prize.
2. The Booker Prize
Now
known as The Man Booker Prize for Fiction, this is Britain’s most
prestigious literary award. It’s handed out every year to one author
whose outstanding novel was published during the previous 12 months.
Being shortlisted to receive a Man Booker Prize is considered an honour
in its own right.
 

3. The Academy Awards

Perhaps
the most well-known award in American cinema, the Oscars are handed out
every year to actors, directors, producers and film professionals who
worked on the previous year’s best films. The Academy Awards ceremony
was inaugurated in 1929, and the event’s broadcast now draws more than a
billion viewers worldwide.

4. The BAFTA Awards

These
awards, handed out by the British Academy of Film and
Television (BAFTA), are the U.K. equivalent of the Emmys. The annual
awards honour achievements in both film and television. Many popular
actors have won both BAFTA Awards and Academy Awards.

5. The Palme d’Or

Among
film festivals, Cannes is the giant. The Palme d’Or is its most
prestigious prize, and it’s the most widely coveted on the festival
circuit too. The award was created in 1955 and is given to the
outstanding film’s director. Among the dozens of notable films that have
received the award are Taxi Driver, Apocalypse Now, Pulp Fiction and
The Pianist.

6. The Pulitzer Prize

America’s
premier prize in journalism, literature and musical composition,
Pulitzer Prizes are awarded yearly in 21 categories. In addition to
receiving a certificate and medal, winners also receive a $10,000 prize.
These prizes have been awarded since 1917. In recent years, categories
have been expanded to include online journalism.

7. The Golden Globes

Honouring achievements
in film, the Golden Globes are considered the party girl sister of the
more reserved Academy Awards. Actors, directors and other film
professionals gather to recognize each other. Dinner and drinks are
standard at these awards.

8. The BRIT Awards

Launched
in 1977, the BRIT Awards honour achievements in popular music. They’re
similar to the Grammys, and many of the artists who win awards are
top-sellers on both sides of the pond.

9. The Grammys

Awarded
in a variety of classical, jazz, country and popular music categories,
the Grammy Awards were launched in 1959. Stevie Wonder is among the most
notable winners with a total of 22 Grammys as of 2015.

10. The MTV Video Music Awards

It
might be hard to believe, but the MTV VMAs have been handed out since
1984. They honour the very best in music videos in a variety of
categories. Madonna has won the most VMAs to date with a total of 69
nominations and 19 wins.
Coming
back to the home front, the idea of conferring of Awards and honours in
Nigeria can be traced back to the National Honours Act No. 5 of 1964
passed into law during Nigeria’s first republic to honour Nigerians and
her friends every year who have rendered service to the benefit of the
nation.
The national honours in descending order are:
Grand Commander of the Order of the Federal Republic (GCFR)
Grand Commander of the Order of the Niger (GCON)
Commander of the Order of the Federal Republic (CFR)
Commander of the Order of the Niger (CON)
Officer of the Order of the Federal Republic (OFR)
Officer of the Order of the Niger (OON)
Member of the Order of the Federal Republic (MFR)
Member of the Order of the Niger (MON)
The
GCFR and GCON are bestowed on former occupants of the office of the
President of Nigeria and the Vice President of Nigeria including former
military heads of state of Nigeria and chiefs of general staff. The GCON
is also bestowed on the chief justice of Nigeria and the president of
the Nigerian senate during their first year in office, while CON is
customarily bestowed on justices of the supreme court of Nigeria.
Others
such as the CFR, MON, OFR etc. are awarded to members of the public for
great achievements, these include public servants, political leaders,
traditional leaders, and distinguished persons in various fields of
work.
Although this national Awards and Honours ceremony followed
the British example in form and structure of the Order, other events
ceremonies have been instituted to recognize and celebrate outstanding
performance in other categories. The following awards ceremonies are
landmark events that catch the attention of stakeholders in the
respective industry:
Nigeria Prize for Literature is
a Nigerian literary award given annually since 2004 to honour literary
erudition by Nigerian authors. The award rotates among four genres;
fiction, poetry, drama, and children’s literature, repeating the cycle
every four years. Th
e
process and judging are administered by Nigerian Academy of
Science with an advisory board made up of members from Nigeria Academy
of Letters and Association of Nigerian Authors.
The Headies are
awards established in 2006 by the Hip Hop Magazine of Nigeria to
recognize outstanding achievement in the country’s music industry. Hip
Hop Magazine is a weekly Nigerian music magazine established in 1995.It
has sponsored The Headies award since the award’s inception in 2006. The
magazine’s publisher is Nigerian journalist and music promoter Ayo
Animashaun.
The Nigeria Prize for Science is
a Nigerian science award given annually since 2004 for excellence
achieved in scientific breakthroughs. It is the country’s highest
scientific award. The award is sponsored by the Nigeria Liquefied
Natural Gas company. The prize describes itself as “bringing Nigerian
scientists to public attention and celebrating excellence in scientific
breakthroughs”.
The Nigerian National Order of Merit Award (NNOM)
is an academic award instituted in 1979 and conferred on distinguished
academicians and intellectuals who have made outstanding contributions
to the academic, growth and development of Nigeria. The award is often
conferred on its recipient by the government following a nomination and
approval of the Governing Board of the Award. It is the highest academic
award in Nigeria.
The PEARL Awards Nigeria,
an acronym of the “Performance, Earnings And Returns Leadership
Awards”, was instituted in 1995, followed by an endorsement by the
nation’s apex capital market regulatory authority, the Securities and
Exchange Commission (SEC) eight years later in 2003, to annually reward
outstanding performance of companies listed on the Nigerian Stock
Exchange and stakeholders that have contributed towards the development
of the Nigerian capital market.
The Nigeria Entertainment Awardsestablished
in New York City in 2006 to serve the growing African population in
North America. It recognizes the contributions of African entertainers
to the entertainment industry. The event aims to promote the image and
culture of Nigeria. This has increased the awareness of a new style of
African entertainment that has helped promote Nigerian acts in the
world.
The Nigeria Media Merit Awardestablished
in 1990, a foremost and most prestigious annual celebration of the best
in the media industry in Nigeria.  The objective is to recognize,
encourage and reward excellence in media practice in Nigeria while
fostering the mutual symbolic relationship between the media industry
and the larger society.Over the years, NMMA has evolved to become
Nigeria’s most powerful and influential platform for an Annual re-union
of Media Veterans and Practitioners with the crème de la crème of the
society and other eminent stakeholders nationally and internally.
The City People Awards has
come up with various Awards over the years that cut across different
sectors and stakeholders of the Nigerian economy. These include City
People Music Awards, City People Movie Awards, City People Entertainment
Awards and City People Award for Excellence. The set objectives of
these Awards are to stimulate high performance within the
targetedsectors and ultimately add value to the national economy.
The Future Awards Africa:
is a set of awards given to celebrate young people between the ages of
18 and 31, who have made outstanding achievement in the year under
consideration. The award ceremony is a brainchild of the Future Project,
a social enterprise communications firm. The awards are given to
winners in ten categories and this was trimmed down from the initial 21
categories when the awards ceremony started in 2006.
Nigeria Pitch Awards:
These awards are presented to Nigerian former and present sports
people, administrators and journalist in recognition of their positive
role and contribution to sports development in Nigeria. Initiated in
2013 by Matchmakers Consult International and endorsed by the Nigerian
Football Federation. The awards were started with 16 categories and by
2016 6 more categories were subsequently added.
The Africa Movie Academy Awards:
Been a subsidiary of the Africa Film Academy which was founded on the
best film tradition and geared towards research, training and
propagating filmmaking in Africa. AMAA was established in 2005 with the
aim of providing a reward and recognition platform for filmmakers on the
continent.
Nigeria Health Care Awards is
an annual event instituted to celebrate and recognize distinguished
personalities and organizations who have contributed immensely to the
growth of the Nigerian Health sector. The awards ceremony is an
initiative of Global Health Project and Resources in partnership with
Anadach group. The awards started in 2014 and have become a high profile
event in the healthcare industry gaining widespread acceptance from
other stakeholders in the healthcare community.
Nigerian Broadcasters Merit Awards:
These awards are presented annually to recognize excellence of
professionals in the African/Nigerian broadcast industry who have
distinguished themselves as role models, mentors, and propagators of
social change in the society. The maiden edition was held in October
2010 and is an initiative of the Reality Entertainment, a
showbiz/entertainment firm established in 2005.
Nigerian CFO Awards:  Now in its 4th year,
Nigeria CFO Awards is an annual event recognizing and celebrating the
accomplishments of both financial executives and organization for their
leadership contributions to their companies’ growth. 
The
annual awards, which is the first of its kind in Nigeria, recognizes
success, growth and innovation the CFO and their team bring towards
organizational development.
It
is worth mentioning that quite a number of the awards ceremonies
initiated and instituted in the country have either gone extinct or are
being absorbed by other more vibrant initiatives. However, some have
stood the test of time and are still weathering the storm in spite of
variousnational socio-economic challenges.Benchmarking global standards
for adopting criteria meant to nominate and select awards recipients, it
is observed that the following are widely used:
·        Online or offline voting by fans or clients
·        Selection by designated judges on a review of performances
·        Nomination or selection of award recipients through technical committee
·        Nomination from stakeholders or the general public to an awards committee
·        Distinguished or landmark achievement in a specialized field of endeavour
The
history of awards ceremonies in Nigeria willcertainly not be complete
without giving a most deservedrecognition of one of the most
prestigious, credible and respected recognition initiatives in the
country that has stood the test of time, for more than two decades
now.  ThePEARL Awards Nigeria, is a recognition initiative that
stands out havingbeen rewarding excellence in the corporate world for
well over the past two decades.
Following the Nigerian National Honours and the Nigerian National Order of Merit Award no
other recognition event has flourished sustainably like the PEARL
Awards and for this reason, we shall be paying attention to the
activities of thislandmark initiative recognizing and rewarding
corporate excellence with finesse and credibility.
Going the memory lane, the Performance, Earnings And Returns Leadership (PEARL)
Awards was instituted in 1995 to reward companies quoted on the
Nigerian Stock Exchange for outstanding operational performance and
excellence; thereby enhancing the vibrancy, growth and development of
the capital market.
The
maiden edition of the Awards Nite was held on May 27, 1995 at Eko Hotel
& Suites, Victoria Island, LagoswhereNigerian Breweries Plc carted
away the Overall Highest Award (PEARL of the Nigerian Stock Market)
among other laurels won by this company at this edition.
Instructively,
Dangote Cement Plc,remains the only quoted company to have won same
most prestigious Award (PEARL of the Nigerian Stock Market) back to back
in 2012 and 2013.
Since
inception over two decades ago, the PEARL Awards has recognized and
rewarded over eighty (80) companies in different categories of the
Awards basedon their sterling performance.
Awards Categories:  The PEARL Awards are in three categories. These are 
Main Competitive Awards Category
a.      Sectorial Leadership Awards
b.      Market Excellence Awards
c.       Overall Highest (The PEARL) Award
Special Recognition Awards Category
a.      Non-Listed Securities Award
b.      Stockbroking Firm of the Year Award
c.       Issuing House of the Year Award
d.      Good Corporate Governance Award
Honorary Awards Category
a.      CEO of the Year Award
b.      Capital Market Development Award
c.       Capital market Correspondent Award of the Year
d.      Media Award for Capital Market Development
Methodology of the Awards: The
winning companies in the main competitive category emerge through
rigorous data analysis and evaluation. The Sectoral Leadership Awards
rewards a company for out-performing other companies within the same
sector, based on aggregate points garnered from all the ten indices
utilized for ranking. 
The
Market Excellence Awards is based on consideration of the entire market
leadership in respect of each of the ranking indices. For each of the
indices, points are awarded in order of performance to the top ten
companies ranging from 10 points to 1 point. Companies with 10 points
win each of the Awards.
The
Overall Highest Award considers companies that have emerged as Sectoral
Leaders of their sectors and have performed most outstandingly in the
market excellence category. The Sectoral Leader with the highest points
in the market excellence is therefore awarded the PEARL of the Nigerian
Stock Market.
The uniqueness of the PEARL Awards is in theAwards process being based on verifiable facts and figuresobtained
from the companies’ financial reports, NSE daily listing, and NSE
52-week trading reports. The parameters utilizedare credible and
globally acceptable parameters for data evaluation. These parameters
include Turnover Growth, Earnings Yield, Dividend Yield, Return on
Equity, Profit Margin Ratio, Net Asset Ratio, Share Price Appreciation
etc. It is worthy of note that PEARL Awards remains the only Awards in
this part of the world that is based on objective criteria and empirical
data.
One
of the factors that stand the Awards out is the composition of the
Awards Board of Governors over the years. Since inception, the Board has
been peopled by time-tested and first class professionals as well as
highly respected capital market experts with unquestionable integrity.
The Board gives broad based policy guidelines on the activities of the
Awards.
The
integrity of the Awards has remained impeccable over the decades.The
PEARL Awards does not charge any fee from companies nominated for the
purpose of winning the Awards as part of efforts to maintain its
impartiality and ensure objectivity in its assessment of quoted
companies and other stakeholders’ institutions at its yearly Awards.
The
Securities & Exchange Commission, the apex regulatory body in the
capital marketin appreciation of the shared value of corporate
excellence promotion in Nigeria,which PEARL Awards exemplifies, endorsed
the PEARL Awards Project in 2003. The Commission also supports the
institutionalization of PEARL Awards Africa, a continental version of
the Awards in Nigeria.
In
terms of innovation, the PEARL Awards in its 23 years of existence has
come up with various initiatives aimed at deepening and enhancing
capital market development in Nigeria.  These include:
PEARL Awards Annual Public Lecture for Capital Market Developmentinstituted
in 2005 to provide a forum for seasoned experts and technocrats
(national & international) from the public and private sectors to
brainstorm annually on germane, contemporary and emergent issues in
capital market development with the view to enhancing investors’
protection, strengthen shareholders’ confidence and ensuring market
integrity and stability. 
Publication of theNigerian Stock Market Annual (NSMA), a
research compendium which covers contemporary issues in the Nigerian
Capital Market, the Nigerian economy and the global economy. Published
since 1995, the publication has helped to impact knowledge on numerous
readers that cut across the private and public sectors of the nation’s
economy.
The
main objective of the publication is to strengthen the knowledge base
of shareholders and investors alike on the salient issues concerning the
capital market, the Nigerian economy and the global economy among
others.
The
comprehensive analysis of the PEARL Awards Report culminating to the
emergence of winning companies is usually published in this annual
publication, and publicly presented at each year’s Awards nite.
Another
publication of the Awards Project is the book, “Winning Strategies of
Nigeria’s Corporate Giants”, designed to positively project quoted
companies in Nigeria who have demonstrated consistent outstanding
performance, leadership, resilience and sustainable growth and by so
doing have emerged consistent winners in their different categories of
the PEARL Awards over the years.
A
prominent feature in the book is the incisive interviews where CEOs of
market leaders share their wealth of experiences and give insight into
the various strategies that have kept their companies on the winning
edge in terms of policies, people, products and services.
The PEARL
Awards over the years has no doubt remained a reference point for
investment decisions by shareholders and investors alike.
The
direct consequence of the Awards on the quoted companies is the upward
trend in the share price of winning companies at the stock market which
positively impact the investors’ values.
Similarly,
the resolutions and recommendations from the annual PEARL Awards Public
Lecture are forwarded to capital market regulatory authoritites for
consideration and possible implementation. It is gratifying to note that
both the Securities & Exchange Commission and the Nigerian Stock 
Exchange have intensified efforts on investors’ sensitization, which the
PEARL Awards hadhitherto canvassed for at different fora.
Conclusion
Generally, Awards
ceremonies are a celebration of talent, success and achievement while
carrying a connotation of reputation and expertise. Beyond that, they
are employed by all sorts of sectors as showcased earlier to celebrate
the success of an individual, a team, or an entire organization. From
educational awards right through to the Grammies and Oscars, it is
usually an endorsement of people’s abilities and rewarding those
achievements. The PEARL Awards can aptly be described as the PEARL of
Nigerian Awards in recognition of its invaluable positive contributions
to the nation’s economy and sustained long years of rewarding corporate
excellence thereby promoting value enhancement to shareholders’ wealth.

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