Education
NSE 2016 Essay Competition Gets Sponsors
By Dipo Olowookere
Business Post can report that at least three companies have thrown their weights behind the annual Nigerian Stock Exchange (NSE) essay competition.
According to the NSE, Access Bank, Rand Merchant Bank, and Dangote Foundation have indicated their interests to sponsor the top three winners of the quiz with equity investments, University scholarship funds and personal laptops/tablets.
These items would be presented to the beneficiaries at the awards ceremony which holds in November 2016.
The competition opened on Thursday, September 1, 2016 and will close on Friday, October 14, 2016.
It is opened to all students in Senior Secondary Schools in all states of the federation.
Topic for this year’s edition is “What is the biggest obstacle to saving and investing money and how can The Nigerian Stock Exchange help.”
Winners would be honoured with a Closing Gong ceremony, while the schools of the top three winners would also be presented with trophies, desktop computers and printers, the NSE promised.
According to Mr Bola Adeeko, Head, Corporate Services Division, NSE, improving financial literacy is important to the future of Nigeria.
“Through the NSE Essay Competition, we are promoting financial literacy among young Nigerians, by encouraging them to learn how good financial decisions can better their lives now and in the future, and ultimately grow the economy.
“The competition serves as an essential platform to get the perspectives of our young ones on key challenges relating to financial literacy and inclusion in Nigeria.”
Also commenting on the competition, Mr Olumide Orojimi, Head of Corporate Communications, NSE said, “At NSE, we are committed to helping people understand how to manage their financial resources.
“We take pride in investing in the lives of the next generation by empowering them with financial skills and knowledge.”
He noted that the impact of the competition is commendable as the Exchange continues to record increased number of participation and overall, high level of interest which has altogether created greater awareness of the dynamics of the stock exchange.
“Our achievements are not lost on our stakeholders, as the NSE recently received the ‘Corporate Achievement Award to a Financial Institution’ at the inaugural annual Financial Literacy Excellence (FILEX) Awards, for promoting financial literacy in Nigeria,” he said.
Since it began in year 2000, the NSE essay competition has inspired over 20,000 young people in over 2,500 secondary schools across Nigeria to showcase what they have learnt about the financial and capital markets.
It has also provided an important opportunity for youths to engage in issues of importance to the Nigerian economy.
For participants to enter for the competition, they are required to email their typewritten entries, which should not be more than 1,000 words to [email protected].
An online submission form is also available on www.nse.com.ng and the Nigerian Stock Exchange’s Facebook page.
Education
InterswitchSPAK 6.0 Winner Gets N15m Scholarship, Others
By Aduragbemi Omiyale
The winner of the sixth edition of the InterswitchSPAK, Henry Ndudu Ekong, has earned a university scholarship valued at N15 million, awarded over five years, including a monthly stipend and a new laptop to support his academic journey.
This has made the student of Pegasus School, Akwa Ibom State, as the best STEM student in Nigeria, beating the other competitors at the just-concluded of the famed national science competition.
The first runner-up was Eric Denyefa Omare from St. Gregory’s College, Lagos and received a N10 million scholarship awarded over three years along with a laptop, while the second runner-up was David Umeojiaka from Graceland International School, Rivers State, receiving a N5 million scholarship for one year and a laptop as well.
Cash prizes were also awarded to students placing fourth through ninth, while the top 18 semi-finalists and 27 dedicated teachers received special recognition awards.
Additionally, the top 200 preliminary qualifiers were granted JAMB e-PINS, enabling them to register for the Joint Admissions and Matriculation Board (JAMB) exams at no cost.
This year, Interswitch increased the total prize pool significantly, raising it to over N30 million, representing a 140 per cent increase from the previous N12.5 million, reinforcing Interswitch’s commitment to advancing education.
InterswitchSPAK 6.0 saw laudable participation, with more than 16,000 students registered nationwide at the start of the competition.
This landmark competition highlights Interswitch’s ongoing efforts to inspire, support and empower Nigeria’s next generation of thinkers and innovators.
As the competition continues to grow, Interswitch remains dedicated to driving the country’s advancement in science and technology by investing in initiatives that foster academic excellence and innovation, ensuring that Nigeria's brightest minds have every opportunity to contribute to a more prosperous and technologically driven nation.
Commenting on the competition, the Executive Vice President for Group Marketing and Communications at Interswitch, Ms Cherry Eromosele, emphasized the critical role of STEM education in Nigeria’s growth and Interswitch’s dedication to cultivating young talent and driving meaningful innovation.
“At Interswitch, we believe that Nigeria’s future lies in the hands of our youth, especially those who are passionate about science and technology.
“InterswitchSPAK 6.0 exemplifies our commitment to empowering these bright minds by providing them with the tools, skills, and resources they need to innovate and excel.
“Our investment in STEM education not only fuels individual success but also drives economic growth and societal progress, building a brighter future for Nigeria,” she said.
Education
National Assembly to Stop FG from Funding JAMB, Queries N1bn for Meals
By Adedapo Adesanya
The National Assembly comprising the Senate and the House of Representatives has resolved to remove the Joint Admissions and Matriculation Board (JAMB) from the Federal Government’s 2025 budget grant, citing concerns over the board’s financial management.
Lawmakers argued on Monday that it is unjustifiable for JAMB to remit N4 billion to the federation account while receiving N6 billion from the government in 2024.
This decision followed a presentation by JAMB Registrar, Mr Ishaq Oloyede, before the joint committee of the Senate and House of Representatives, led by Mr Sani Musa, during an interactive session on revenue projections for 2025.
Mr Oloyede revealed that JAMB remitted N4 billion to the Consolidated Revenue Fund but received N6 billion from the federal government in 2024, prompting committee members, including Mr Abiodun Faleke and Mr Adams Oshiomhole, to question the rationale behind funding a self-sustaining agency with government grants.
“You remitted N4 billion and received N6 billion from the federal government. Why not keep the N4 billion and stop the government from funding JAMB?” asked Mr Faleke, the Chairman of the House Committee on Finance.
On his part, Mr Oshiomhole criticized JAMB for spending N1.1 billion on meals and refreshments last year, querying, “Are you being freely fed by the government? This money comes from poor students, many of whom are orphans.”
He also questioned the N850 million spent on security, cleaning, and fumigation, and N600 million on local travels, challenging the justification for these expenses.
Further scrutiny was directed at the N6.5 billion allocated for local training and N1 billion for a staff housing scheme.
Mr Oshiomhole then called for a breakdown of these expenditures.
In a related development, the Senate expressed concern over the low remittances from MDAs in 2024, pointing to a significant gap between the revenue generated and amounts remitted to the federation account.
This was disclosed by Mr Sani Musa, the Chairman of the Joint Finance Committee of the Senate and House of Representatives, during an interactive session on revenue projections by MDAs for 2025.
Mr Musa highlighted the Senate’s deep concern over the significant gap between the substantial revenues accrued by these agencies and their consistently low remittances to the federation account.
He pointed out that this discrepancy hampers the government’s ability to fund critical infrastructure projects and social services, raising issues of inefficiency, mismanagement, and potential revenue leakages.
Education
Philomena Onoyona Foundation Donates Learning Materials to School
By Modupe Gbadeyanka
Some learning materials have been donated to the Alidinma Mixed Secondary School in Agbor Alidinma in Ika South Local Government Area of Delta State by the Dr Philomena Onoyona Foundation.
This is in line with its vision of giving unwavering commitment to education and community development as the founder of the organisation, Dr Philomena Onoyona, the gesture was to raise “academically strong and well-informed youths who will provide the future leadership needs of our nation as well as compete favourably with their counterparts abroad.”
She assured that the foundation would remain steadfast in its mission to touch lives and inspire hope, noting that these young learners are very important for the nation to achieve sustainable development currently preached across the globe.
“Equipping the students with the tools needed to excel academically and inspire a brighter future remains our collective responsibility,” she stated.
Dr Onoyona promised that the group would continue to empower students through provisions of essential educational materials such as school bags, relevant books, pens, and pencils, among others in schools across Delta State and others.
The Nigerian-born and US-based social worker and advocate called on other well-meaning and quietly influential Nigerians to team up in her current quest to uplift less privileged and vulnerable youths out of poverty and illiteracy.
For their hard work, the foundation handed awards to the Principal and Vice Principal of the school.
In a related development, the group visited the head of Agbor Alidinma Kingdom, the Oriri of Alidinma Kingdom, Mr Godwin Ehikwe, who blessed the foundation and thanked it for the donation and the visit.
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