Economy
Eva Adelaja Girls’ at 60: Family Unveils Ben and Eva Adelaja Prize
By Adedapo Adesanya
The week-long 60th Anniversary of Eva Adelaja Girls’ Secondary Grammar School, Bariga, commenced on Saturday, February 17 with the Praise Day and Community Hymn Singing held at Chapel of Christ the Light in Alausa, Ikeja, Lagos.
The event witnessed personalities from different sets of the six-decade-old school grace the chapel at the heart of Lagos to sing hymns to honour God and extol the virtues of the late founder, Mrs Eva Adebayo Adelaja.
Eva Adelaja Girls’ Secondary Grammar School, Bariga was founded in 1964 by Mrs Evangeline Adebayo Adelaja. The school was formerly known as Girls Secondary School. It was privately owned until 1969 when it became grant-aided by the Lagos State Government. In 1974, it was completely taken over by the government.
Speaking during the service, Revd Oladele Ajayi, the Presiding Chaplain, lauded the life of the educator and appreciated her contribution to the education of the girl child.
He called on those present, including family members, alumni, present students, and other well-wishers to emulate her.
On her part, the president of the Eva Adelaja Girls’ Secondary Grammar School Old Girls’ Association, Mrs Rhoda Ayinde, said the milestone provided an opportunity to thank God for using Mrs Adelaja as a vessel to raise a generation of girls on the right path.
“It’s an opportunity for us to thank God for the impact of the last six decades, for the journey of raising role models that Mama started 60 years ago and that’s why we decided to start our celebration with thanksgiving.
“It is of great impact that the mighty tree that Mama planted is providing shade and is being felt by everyone. By the Bariga community, by the state, and the nation at large,” she said.
The highlight of the event was the announcement of the establishment of the N1 million Prize known as the Ben and Eva Adelaja Prize, which will be awarded to the best-graduating student moving forward.
This was announced by the representative of the family of the founder, Mrs Kehinde Kamson, the daughter of the late founder in memory of their mother and father.
“To commemorate this milestone anniversary, the Adelaja family has decided to commit in perpetuity, to providing an annual prize to be called the Ben and Eva Adelaja Prize.
She said the prize would be given at the end of each school year to a graduating student across the board with criteria including the best performance in academic excellence, leadership, commitment to community, and vision.
She added that the family wished this would be the top prize at the school in honour of the founder’s legacy starting in 2024, noting that a fund will be established to also recognise other exemplary students at the school.
On her part, the Chairman of the Organising Committee, Mrs Folashade Laja, lauded the foot at which the celebrations commenced and said the next set of activities would impact others.
The next event will be a Fun Day scheduled for Tuesday, February 20, at the school compound located at 1, Adepeju Street, Bariga, Lagos from 8 a.m. onwards. This will feature a novelty match, charity visit, rally, health talk, and a raffle draw.
On Thursday, February 22, there will be an anniversary lecture and documentary from 10 a.m. at 10 Degrees Event Centre Plot A2, along Billings Way in Oregun.
The celebration will culminate with a dual event starting with a thanksgiving at Chapel of Christ the Light scheduled to start by 9 a.m. This is followed by a reception and awards ceremony by 12 noon.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited witnessed Santa Claus rally on Wednesday after it closed higher by 0.12 per cent.
Strong demand for Nigerian stocks lifted the All-Share Index (ASI) by 185.70 points during the pre-Christmas trading session to 153,539.83 points from 153,354.13 points.
In the same vein, the market capitalisation expanded at midweek by N118 billion to N97.890 trillion from the preceding day’s N97.772 trillion.
Investor sentiment on Customs Street remained bullish after closing with 36 appreciating equities and 22 depreciating equities, indicating a positive market breadth index.
Guinness Nigeria chalked up 9.98 per cent to trade at N318.60, Austin Laz improved by 9.97 per cent to N3.20, International Breweries expanded by 9.85 per cent to N14.50, Transcorp Hotels rose by 9.83 per cent to N170.90, and Aluminium Extrusion grew by 9.73 per cent to N16.35.
On the flip side, Legend Internet lost 9.26 per cent to close at N4.90, AXA Mansard shrank by 7.14 per cent to N13.00, Jaiz Bank declined by 5.45 per cent to N4.51, MTN Nigeria weakened by 5.21 per cent to N504.00, and NEM Insurance crashed by 4.74 per cent to N24.10.
Yesterday, a total of 1.8 billion shares valued at N30.1 billion exchanged hands in 19,372 deals versus the 677.4 billion shares worth N20.8 billion traded in 27,589 deals in the previous session, implying a slump in the number of deals by 29.78 per cent, and a surge in the trading volume and value by 165.72 per cent and 44.71 per cent apiece.
Abbey Mortgage Bank was the most active equity for the day after it sold 1.1 billion units worth N7.1 billion, Sterling Holdings traded 127.1 million units valued at N895.9 million, Custodian Investment exchanged 115.0 million units for N4.5 billion, First Holdco transacted 40.9 million units valued at N2.2 billion, and Access Holdings traded 38.2 million units worth N783.3 million.
By Adedapo Adesanya
Nigerian food and beverage company, Rite Foods Limited, has extended warm Yuletide greetings to Nigerians as families and communities worldwide come together to celebrate the Christmas season and usher in a new year filled with hope and renewed possibilities.
In a statement, Rite Foods encouraged consumers to savour these special occasions with its wide range of quality brands, including the 13 variants of Bigi Carbonated Soft Drinks, premium Bigi Table Water, Sosa Fruit Drink in its refreshing flavours, the Fearless Energy Drink, and its tasty sausage rolls — all produced in a world-class facility with modern technology and global best practices.
Speaking on the season, the Managing Director of Rite Foods Limited, Mr Seleem Adegunwa, said the company remains deeply committed to enriching the lives of consumers beyond refreshment. According to him, the Yuletide period underscores the values of generosity, unity, and gratitude, which resonate strongly with the company’s philosophy.
“Christmas is a season that reminds us of the importance of giving, togetherness, and gratitude. At Rite Foods, we are thankful for the continued trust of Nigerians in our brands. This season strengthens our resolve to consistently deliver quality products that bring joy to everyday moments while contributing positively to society,” Mr Adegunwa stated.
He noted that the company’s steady progress in brand acceptance, operational excellence, and responsible business practices reflects a culture of continuous improvement, innovation, and responsiveness to consumer needs. These efforts, he said, have further strengthened Rite Foods’ position as a proudly Nigerian brand with growing relevance and impact across the country.
Mr Adegunwa reaffirmed that Rite Foods will continue to invest in research and development, efficient production processes, and initiatives that support communities, while maintaining quality standards across its product portfolio.
“As the year comes to a close, Rite Foods Limited wishes Nigerians a joyful Christmas celebration and a prosperous New Year filled with peace, progress, and shared success.”
By Adedapo Adesanya
The Naira closed the pre-Christmas trading day positive after it gained N6.61 or 0.46 per cent against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, December 24, trading at N1,443.38/$1 compared with the previous day’s N1,449.99/$1.
Equally, the Naira appreciated against the Pound Sterling in the same market segment by N1.30 to close at N1,949.57/£1 versus Tuesday’s closing price of N1,956.03/£1 and gained N2.94 on the Euro to finish at N1,701.31/€1 compared with the preceding day’s N1,707.65/€1.
At the parallel market, the local currency maintained stability against the greenback yesterday at N1,485/$1 and also traded flat at the GTBank forex counter at N1,465/$1.
Further support came as the Central Bank of Nigeria (CBN) funded international payments with additional $150 million sales to banks and authorised dealers at the official window.
This helped eased pressure on the local currency, reflecting a steep increase in imports. Market participants saw a sequence of exchange rate swings amidst limited FX inflows.
Last week, the apex bank led the pack in terms of FX supply into the market as total inflows fell by about 50 per cent week on week from $1.46 billion in the previous week.
Foreign portfolio investors’ inflows ranked behind exporters and the CBN supply, but there was support from non-bank corporate Dollar volume.
As for the cryptocurrency market, it witnessed a slight recovery as tokens struggled to attract either risk-on enthusiasm or defensive flows.
The inertia follows a sharp reversal earlier in the quarter. A heavy selloff in October pulled Bitcoin and other coins down from record levels, leaving BTC roughly down by 30 per cent since that period and on track for its weakest quarterly performance since the second quarter of 2022. But on Wednesday, its value went up by 0.9 per cent to $87,727.35.
Further, Ripple (XRP) appreciated by 1.7 per cent to $1.87, Cardano (ADA) expanded by 1.2 per cent to $0.3602, Dogecoin (DOGE) grew by 1.1 per cent to $0.1282, Litecoin (LTC) also increased by 1.1 per cent to $76.57, Solana (SOL) soared by 1.0 per cent to $122.31, Binance Coin (BNB) rose by 0.6 per cent to $842.37, and Ethereum (ETH) added 0.3 per cent to finish at $2,938.83, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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