NSE, Access Bank Partner on Financial Inclusion

Image

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) has partnered with Access Bank to commemorate the 2017 Global Money Week, which promotes financial inclusion and literacy.

In view of this, both bodies have agreed to organise an event next week tagged ‘Learn, Save, Earn’ and would hold across all NSE offices in Nigeria.

At the programme, employees of NSE would mentor young people on how money works, saving, investing, creating livelihood, gaining employment and entrepreneurship.

A statement issued by the NSE in Lagos on Monday disclosed that the main aim of the event is to raise awareness and improve capabilities of youths to make sound financial decisions.

The event is slated for March 27 to March 31 and would also include a closing gong ceremony of the NSE, excursions to the trading floor, interactive session with executive management of the NSE.

The Acting Head of Corporate Services Division of the NSE, Mrs Pai Gamde, was quoted by the statement as saying that Exchange was playing its part in building a financially savvy generation of future leaders.

“We believe that as a nation, children and youths are important component of building a secured future and we must train these future leaders on how to make sound financial decisions” Mrs Gamde said.

Also, the NSE Head of Corporate Communications, Mr Olumide Orojimi, was quoted as saying that “the Global Money Week initiative is fully consistent with our vision to promote a market place where investors are well educated to make sound investment decisions.”

“For the past two years, the Exchange has been able to directly reach over 3,033 students and pupils from over 54 secondary and primary schools with an indirect effect on about 10,000 young people across its operating environment”, he said.

The Global Money Week, a global movement to raise awareness on the importance of financial education and financial inclusion for children and youths, is led by Child and Youth Finance International (CYFI), a non-profit organization based in Amsterdam.

Share
Related Stories
Image
29-February-2024

Crude Oil Mixed on Undecided US Interest Rates Move, High Inventories

By Adedapo Adesanya Crude oil futures settled mixed on Wednesday after the US Federal Reserve held firm on its decision to hold off cutting interest rates soon while growing crude stockpiles in the world’s largest producer added further pressure. Brent crude futures settled 3 cents higher, or up 0.04 per cent at $83.68 a barrel while the US West Texas Intermediate futures (WTI) settled 33 cents lower, or down 0.42 per cent at $78.54. The market was unsteady over signs that interest rates in the world’s largest economy would remain elevated. US Federal Reserve Bank of New York President John

Image
28-February-2024

Senate Advocates Introduction of Food Stamps in Nigeria

By Adedapo Adesanya The Senate has urged the federal government to introduce the Nigerian version of the “food stamps programme” as an interim intervention to cushion the effects of food shortages in the country. This followed the adoption of a motion on the Introduction of Food Stamps in Nigeria as an Interim Measure to Address Imminent Food Insecurity in the country, by Mr Ali Ndume, the Senate Chief Whip at plenary on Tuesday. Presenting the motion, Mr Ndume said that in other countries, like the United States, food stamps were government-issued coupons that had been in use since 1939. “This is

Image
29-February-2024

Nigeria Needs Policies that Prioritize Economic Recovery—Peter Obi

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has raised concerns over the recent decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to increase the Monetary Policy Rate (MPR) to 22.5 per cent and the Cash Reserve Ratio (CRR) to 45 per cent. Mr Obi warned that this move is likely to worsen the ongoing economic challenges faced by many Nigerian households, and emphasized the need for policies that prioritize economic recovery. In a statement issued via X (formerly Twitter), the businessman and former

Image
28-February-2024

CBN Rate Hike Will Disrupt Economic Growth, Investment—CPPE

By Aduragbemi Omiyale The hike in the Monetary Policy Rate (MPR) by 4.00 per cent by the Central Bank of Nigeria (CBN) on Tuesday will not bring down inflation as believed, the Centre for the Promotion of Private Enterprise (CPPE) has declared. The chief executive of the organisation, Mr Muda Yusuf, said this is so because the Monetary Policy Committee (MPC) of the apex bank failed to take into consideration the country’s peculiarities before deciding to jerk the benchmark interest rate to 22.75 per cent from 18.75 per cent. The CBN, through its governor, Mr Yemi Cardoso, while briefing journalists

More Stories
Image
23-September-2019

African Great Game: Russia Playing the Catchup

By Kester Kenn Klomegah After Soviet collapse, Russia has maintained strong and time-tested relations with African countries, and of course, the Soviet Union had played an important role during the decolonisation of Africa. The African continent comprises a diverse collection of countries, each with its own set of development setbacks and challenges. The political culture and investment climate are, in fact, diverse but are important forces in the economy. According to several development reports, Africa is one of the fastest growing regions in the world: the average annual GDP growth rate reaches from 3.5% to 5% on the continent. The

Image
26-August-2017

NSE Posts N24.2b Transactions in 5 Days as Index Sheds 0.74%

By Dipo Olowookere Investors traded this week on the floor of the Nigerian Stock Exchange (NSE) a total turnover of 1.538 billion shares worth N24.218 billion executed in 19,187 deals. This is in contrast to a total of 1.394 billion shares valued at N25.037 billion that exchanged hands last week in 23,133 deals. A breakdown of this showed that the Financial Services Industry (measured by volume) led the activity chart with 1.209 billion shares valued at N14.210 billion traded in 10,692 deals; thus contributing 78.65 percent and 58.68 percent to the total equity turnover volume and value respectively. The Agriculture

Image
09-November-2020

Access Bank Invests in Technology to Boost Nigeria’s Economy

By Modupe Gbadeyanka One of the largest banks in Nigeria, Access Bank Plc, has continued to make huge investments in technology as part of its commitment to build the nation’s economy. Recently, the lender sponsored the 2020 edition of the Nigerian Fintech Week, an event put together to highlight how the sector can provide a solution to problems across different industries including health, agriculture and logistics. The Executive Director for Information Technology and Operations at Access Bank Plc, Mr Ade Bajomo, who spoke at the programme, informed participants that, “Access Bank is committed to positively impacting lives and building the

Image
10-November-2017

NNPC Vows to Back Local Firms in Oil Sector

By Modupe Gbadeyanka Indigenous companies have been promised a level playing field in the oil and gas industry in Nigeria. This assurance was given by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, while commissioning the Lagos Midstream Jetty (LMJ) at the Apapa Harbour on Tuesday. Reiterating the state-owned firm’s commitment to continued collaboration with the private sector, Dr. Baru urged private companies to develop innovative and profitable solutions that would not only aid the development of the country but also ease the way of doing business. He charged the private sector to continuously

Image
23-August-2018

Asian Stocks Close Mixed as US Slams $16b Tariffs on Chinese Goods

By Investors Hub Asian stocks turned in a mixed performance on Thursday after the U.S. imposed tariffs on $16 billion worth of Chinese goods and the Asian nation vowed to retaliate, in an escalation of their trade war. After the U.S. imposed an additional 25 percent in duties on Chinese imports ranging from motorcycles to steam turbines and railway cars, China’s Ministry of Commerce said it would lodge a complaint against the measure under the World Trade Organization’s dispute settlement mechanism. Markets were also tracking political developments in Washington after Michael Cohen, U.S. President Donald Trump’s former personal lawyer, pleaded

Image
01-September-2023

Oil Market Ends August Positive on Possible Output Cut Extension

By Adedapo Adesanya The oil market improved on Thursday, rising for a third month in a row on expectations that cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia would continue through the end of 2023. Brent was up during the last trading session of August by $1 or 1.2 per cent to $86.86 a barrel, and the US West Texas Intermediate appreciated by $2 or 2.5 per cent to $83.63 a barrel. Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million barrels per day into October,

Image
30-January-2018

Excitement as NSE Pricing Methodology Kicks Off

By Modupe Gbadeyanka The new pricing methodology and par value rules have triggered excitement among stakeholders in the Nigerian capital market. The new pricing method took effect from Monday, January 29, 2018. It was put in place to improve liquidity, narrow spreads and ensure that all price-improving transactions had material impact. Analysts say the new policies will support more efficient price discovery and liquidity improvement on the exchange. With the new price method, the price floor for stocks listed on the Nigerian Stock Exchange (NSE) now stands at N0.01 from a previous floor of N0.50 per share. In addition, the

Ad
Ad
Recent Stories
Image
29-February-2024

Navigating the Complex World of Investing: What Novices Need to Know

Have you finally decided to take the leap into the exciting arena of investing? Not only is this an excellent way to secure a lucrative nest egg for the future, but many have begun to use these opportunities as a springboard for their businesses. However, appreciating the intricacies of online trading is no easy task. A great deal of preparation will be required and mistakes can occur on occasion. This is why knowing where to begin is one of the best ways to establish strong foundations. Let us therefore cut through a fair amount of “fluff” and examine a handful

Image
29-February-2024

No Going Back on Reforms—Tinubu

By Adedapo Adesanya President Bola Tinubu has said there is no going back on the reforms embarked upon by his government that have led to the hike of essential goods and services in the country. He made this known as he inaugurated the Red Line Rail Project in Lagos on Thursday. The project, an intra-state rail service, is aimed at improving transportation within the city and spans 37 kilometres. Speaking while inaugurating the project, the President reiterated his administration’s commitment to improving the nation’s infrastructural development. He said, “But this revolution that has started, this reform that is ongoing, we

Image
29-February-2024

Senate Confirms Appointment of Four Nominees to CBN Board

By Aduragbemi Omiyale The appointment of four nominees to the board of the Central Bank of Nigeria (CBN) has been confirmed by the Senate. The nominees were confirmed for the position at the plenary on Thursday after the presentation of the report of the Senate Committee on Banking, Insurance and Other Financial Institutions. Chairman of the committee, Mr Tokunbo Abiru, informed his colleagues that only four of the five persons nominated by President Bola Tinubu appeared for screening. The nominees screened and confirmed to join the board of directors of the central bank are Robert Agbede, Ado Yakubu Wanga, Murtala

Image
29-February-2024

Africa Beyond Russia’s Grains Partnerships

By Kestér Kenn Klomegâh Until sustainable food security is established through modernizing agriculture and ensuring adequate support for local farmers, Russia’s grain supply would be a soft geostrategic bait (i) to reinforce the existing time-tested relationships with Africa and (ii) to solicit an endorsement for the unprovoked war in Ukraine. In a speech delivered on March 20, 2023, during the interparliamentary conference ‘Russia-Africa’ held in Moscow, President Vladimir Putin described six African countries as the least developed and poorest in the world that are urgently in need grains, alternatively referred to as humanitarian aid, to feed its population. The beneficiary

Image
29-February-2024

MasterCard, MTN Partner to Boost Digital Commerce, Payments

By Aduragbemi Omiyale A partnership aimed at driving acceleration of the mobile money ecosystem in Africa across 13 markets has been entered into between Mastercard and MTN Group Fintech. This is coming shortly after the payments giant completed the purchase of a minority stake in the telecommunications company. The deal will see Mastercard giving a prepaid virtual card tailored for MTN’s MoMo customers, granting them access to over 100 million acceptance points worldwide. Additionally, it will empower MoMo merchants to seamlessly accept card payments, enhancing the platform’s instant cross-border money remittance services and capabilities. Further, Mastercard will use its cutting-edge

Image
29-February-2024

Adesina to Receive Prestigious Obafemi Awolowo Prize for Leadership

By Ichie Enyi Ejike Umunnabuike Jr Come March 6, 2024, the Lagos Continental Hotel will host an unforgettable occasion when the President of the African Development Bank (AfDB), Mr Akinwumi Ayodeji Adesina, will be formally honoured and presented with the distinguished Obafemi Awolowo Prize for Leadership 2023. The Obafemi Awolowo Prize for Leadership was first announced in December 2012, with the official award ceremony held on March 6, 2013. Before Mr Adesina was announced as its fourth recipient, three other distinguished personalities had been conferred with the prestigious award – Noble Laureate, Prof. Wole Soyinka; former South African President, Thabo

Image
29-February-2024

Exploring Diverse and Evolving Sounds of Africa

Africa’s music scene is a sonic melting pot, where rhythms collide and cultures connect. It’s a universal language, a force that breaks boundaries and fuels the soul. This sonic tapestry isn’t just diverse – it’s explosive. Afrobeats and Amapiano own the spotlight right now. Those irresistible Afrobeats hooks? They’ve got the whole world dancing. And Amapiano’s hypnotic blend of South African house and street sounds? It’s straight-up addictive. Mainstream African artists are pushing the boundaries like no one else, taking Amapiano and running with it. They’re injecting their fire, creating a whole new flavour. This is proof that African music

Image
29-February-2024

Nigeria Needs Policies that Prioritize Economic Recovery—Peter Obi

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has raised concerns over the recent decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to increase the Monetary Policy Rate (MPR) to 22.5 per cent and the Cash Reserve Ratio (CRR) to 45 per cent. Mr Obi warned that this move is likely to worsen the ongoing economic challenges faced by many Nigerian households, and emphasized the need for policies that prioritize economic recovery. In a statement issued via X (formerly Twitter), the businessman and former

Image
29-February-2024

Silence Laboratories Raises $4.1m for Privacy-Preserving Computing

By Adedapo Adesanya Silence Laboratories has announced securing $4.1 million in funding to enable privacy-preserving collaborative computing led by Pi Ventures and Anurag Arjun, along with several prominent angel investors. In a statement shared with Business Post, the company said with the market for privacy-enhancing technologies (PETs) growing globally at a compound annual growth rate of 26.6 per cent, there is growing demand. In recognition of this, Silence Laboratories is offering to provide mathematical guarantees for techno-legal expectations as part of a mission to create infrastructure to enable complex data collaborations between enterprises and entities, without any sensitive information being

Image
29-February-2024

MainOne Stretches Submarine Cable to Akwa Ibom

By Modupe Gbadeyanka A submarine cable spanning 45,000km in length known as 2Africa has been landed in Akwa Ibom State by MainOne, an Equinix company. It is one of the world’s largest subsea cable projects and will interconnect Europe, Asia, and Africa, with a design capacity of up to 180Tbps. The cable is the first and only submarine cable system in Nigeria outside of Lagos, and it marks a significant milestone in enhancing broadband connectivity and driving economic development in the South-South, South-East and North-Central regions of Nigeria. The significance of 2Africa lies in its capacity to address critical internet