Education
NSE Releases Second Financial Literacy Comic Book
By Dipo Olowookere
The second edition of the popular comic book published by the Nigerian Stock Exchange (NSE), StockTown, has been released.
The material is dedicated to providing financial literacy education to Nigerians. The management of the exchange came up with the book because of the proliferation of dubious investment schemes that often result in loss of money by unsuspecting members of the public.
The story picks up from the first edition, following the life of Mora Johnson as she seeks to liberate her family from their financial struggles by investing in the capital market.
This second edition highlights some major lessons for potential and existing investors including the need for vigilance in avoiding Ponzi schemes and unregulated investments, whilst advising prospective investors to seek proper guidance before making investment decisions.
Readers can look forward to a simplified explanation of the history of the capital market, its evolution over the years, and how anyone can start making investments today in the Frequently Asked Questions (FAQs) section of StockTown.
The book, available in digital format on a dedicated website at www.nse-stocktown.com, builds on the NSE’s advocacy for safe and trusted investment schemes.
According to the Head of Corporate Communications at NSE, Mr Olumide Orojimi, “Investor education is a priority for us at the exchange.”
“We have identified the need to empower individuals across all levels to make good financial decisions and better their lives now and in the future.
“As the investment landscape continues to evolve to accommodate more retail participants, we are excited to leverage new and existing platforms to present investment products and processes in ways that are both appealing and easy to understand, particularly in this new normal.
“We hope that StockTown becomes a widely-read resource for potential and existing investors, the financially excluded, millennials and the larger public,” he said.
StockTown is just one of the many ways NSE demonstrates its strong commitment to promoting financial literacy in Nigeria.
Even amidst the Coronavirus pandemic and the temporary closure of its facilities, the NSE continues to host virtual financial literacy workshops with students and young upwardly mobile professionals.
Furthermore, it has hosted several webinars on various products including Exchange Traded Funds (ETFs), Green Bonds, and Securities Lending to provide more information to the market on available securities and how to trade them.
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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