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NCOY: FirstBank Powering Next Generation of Innovators, Entrepreneurs
What did (the various territories that were later to be amalgamated into) Nigeria look like in 1894? How about a hundred years later in 1994? And what could Nigeria look like in the year 2094? History provides elaborate answers to the first two questions. Answers – accurate or near-accurate answers, that is – to the third, however, will rely entirely on the ability to predict/envision the future and work to invent and create the predicted future.
With a continuing shining legacy of nation building – supporting innovative financial, commercial and other developments in Nigeria and even Africa – one bank is already projecting beyond today to the year 2094 – exactly 200 years from its founding in 1894. The bank, First Bank of Nigeria Ltd, is not just predicting a bright, innovative future for Nigeria but is going all out to foster what is required to invent it. FirstBank is putting its money where its mouth is. The bank has been betting the farm on Nigeria’s young and emerging generation for decades.
Take the last two decades, for example. FirstBank has been involved with Junior Achievement Nigeria (JAN) for over twenty years as one of the many ‘fronts’ in the bank’s engagements with the next generation of Nigerians to collaboratively create the bright, innovative future that Nigerians dream of. For ten years now, FirstBank has been supporting the National Company of the Year (NCOY) competition, an extension of the JAN Company Programme, designed to help senior secondary school students better understand how businesses are organised and operated. The students will be required, during the course of the competition, to develop a business plan, establish production and sales of goods and services for their company, monitor progress toward goals at regular department and company meetings, maintain complete financial records, compile a report to stockholders, and liquidate the company at a given period with the support of a volunteer.
FirstBank’s partnership with JAN on the National Company of the Year competition has meant a decade of impact and innovation illustrated by the very nature of innovative products and services created by young minds to solve real problems facing society and the business systems they put in place in form of student companies to successfully produce and market the products and services sustainably and to impact their local communities. Consider the growing problem of fire accidents and deaths from gas explosions resulting from gas leakage in homes, offices and industries. The students from Taidob College, Abeokuta, through their student company, TC Achievers, created an innovative solution to address it.
TC Achievers produced a domestic and industrial gas leakage detector – a device which raises an alarm and sends SMS to the owner’s mobile phone once there is any gas leakage. Their innovative device fetched TC Achievers first position in the regional competition in Ogun State and at the national level in Lagos, earning them the right to represent Nigeria in Ghana at the 2019 African Company of the Year competition. Taidob College emerged from Ghana with four awards, the most by any of the participating Junior Achievement member countries, including Botswana, Eswatini (Swaziland), Gabon, Ghana, Kenya, Mauritius, South Africa, Uganda, Zambia and Zimbabwe. The Nigerian representatives won the following: Client Focus Award, Entrepreneurial Spirit Award, Facilitator of the Year Award and were second runners-up for Company of the Year Award.
The 2018 National Company of the Year competition winners who went on to emerge the grand winners at the Africa Company of the Year competition in Ghana same year, Inventive Explorers from Caro Favoured College, Ajegunle, Lagos were concerned about traffic accidents, especially in areas with school children crossing busy streets. Their innovative device, a rechargeable handheld LED traffic light, was designed to solve this real problem faced by various congested communities. Besides the grand prize at the Africa Company of the Year competition, they also brought back home the Access Award, given to the business that best exhibits the principles of global connectivity.
Guided by the same spirit of innovativeness and enterprise and a passionate desire to solve a real problem facing society that were at work when TC Achievers and Inventive Explorers devised their award-winning innovative solutions, the first runners-up in 2018, Brain Max, the student company formed by student representatives of Government Girls Secondary School, Abaji, Abuja designed a website and software application for connecting local produce farmers directly to their customers. Brain Box also won Best Corporate Social Responsibility Project Award on account of which they visited camps of Nigeria’s internally displaced persons (IDPs) to provide financial literacy and entrepreneurship education to occupants, including helping the IDPs to secure seed funding. It was the same inspiration for the second runners-up, Sharon Glory Ventures, the student company formed by students of Sharon Rose College, Saki, Oyo State who produced a water-level indicator to enable homeowners to determine the level of water in their tanks. Sharon Global Ventures also received the award for the Most Innovative Product.
In 2020, given the global COVID-19 pandemic, the FirstBank-sponsored National Company of the Year competition will be conducted virtually. The virtual format will, however, not take anything away from the allure and competitiveness that the competition has been noted for over the years. This year’s unique competition, holding on Saturday, 12 December 2020 at 3 p.m. (West/Central African time), will bring together six outstanding student companies across Nigeria to lock horns for a lifetime opportunity to carry Nigeria’s flag at the JA Africa Company of the Year competition later in the year, and possibly repeat the feat achieved by the 2018 Nigerian representatives.
The Virtual Company of the Year (VCOY) competition is the culminating point for the implementation of the Virtual Company Programme. The goal of the VCOY is to create a signature showcase for JAN and the students who benefited from the impact of the digital JA Company Programme. This pilot programme will be in two stages where the first stage will identify the top business ideas from each region and select the top five most viable business ideas and reward them with seed funding to fully develop their ideas into businesses. The second stage of this competition sees the introduction of top professionals across different sectors who would serve as the panel of judges to determine each student company’s performance against a set of established criteria. Judges look out for evidence of innovation and application of new ideas in all aspects of business and select the best team to represent Nigeria at the Africa Company of the Year competition.
Whichever student companies emerge as winners of the 2020 National Company of the Year competition, one thing is certain: All the participants, not just at the national level but also at the regional levels, will join the ever-growing and rapidly-expanding crop of young minds engaged, trained, prepped and reoriented in a FirstBank-sponsored empowerment programme to become innovative and entrepreneurial thinkers and problem solvers. The bank is supporting such programmes so the young participants will join it in the arduous task of nation building and inventing the desired future for Nigeria. FirstBank is confident that the young minds who come through the JAN Company of the Year competition will be Nigeria’s future Steve Jobs, Bill Gates, Warren Buffet, Jeff Bezos, Mark Zuckerberg, Richard Branson, Larry Page and Sergey Brin. In their time and in the envisioned future for Nigeria, the country will stand tall, unintimidated by her Western counterparts, having been catapulted to the status of a leading developed nation by the young and emerging generation FirstBank has been betting big on for years.
A Federal High Court in Port Harcourt has summoned President Bola Tinubu and Rivers State Administrator, Vice Admiral Ibok-Ete Ibas, over the emergency rule declaration in the oil-rich State.
The summons follows a lawsuit filed by the Incorporated Trustees of Peoples Life Improvement Foundation, alongside individuals Precious Elekima and Inanna Wright Harry, challenging the legality of the emergency rule imposed on the state.
Also listed as defendants in the suit are Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, the National Assembly, Attorney General of the Federation Lateef Fagbemi, the Revenue Mobilisation, Allocation and Fiscal Commission, and the Central Bank of Nigeria (CBN).
President Tinubu, on March 18, 2025, declared a state of emergency in Rivers, suspending both the executive and legislative arms of government and appointing retired naval officer Vice Admiral Ibok-Ete Ibas as administrator.
In suit number FHC/PH/CS/45/2025, the plaintiffs are seeking judicial interpretation on whether the emergency declaration aligns with constitutional provisions, arguing that it is unconstitutional, null, and void.
They contend that it violates Article 13 of the African Charter on Human and Peoples’ Rights (Ratification and Enforcement Act) and Section 305(3)(b) of the Nigerian Constitution, which outlines the conditions under which a state of emergency can be declared.
The plaintiffs have urged the court to restrain the Rivers State Administrator from appointing caretaker committees for the 23 local government councils, forming a state executive council, or making financial transactions from the state treasury.
Additionally, they are seeking an order for the immediate reinstatement of the suspended executive and legislative arms of government in the state.
Meanwhile, the court has given the defendants 30 days to respond to the summons.
The Minister of Police Affairs, Senator Ibrahim Gaidam, has celebrated President Bola Ahmed Tinubu at he clocks 73 years on Saturday.
In a statement the Minister personally signed, and made available to the National Association of Online Security News Publishers (NAOSNP), he noted that Tinubu has guided the nation with steady hands and showed commitment to Democratic ideals since he was sworn in in May 2023..
The Minister further pledged his commitment to the administration’s renewed hope Security agenda, which has seen the ministry made laudable achievements in a very short time.
The statement reads in full:
Congratulations!
I, Senator (Dr.) Ibrahim Gaidam, Honorable Minister of Police Affairs, extend heartfelt congratulations to His Excellency Bola Ahmed Tinubu, GCFR, President and Commander in Chief of the Nigerian Armed Forces, on his 73rd Birthday.
Since taking office as Nigeria’s 16th President on May 29, 2023, you have guided our nation with a steady hand and a commitment to democratic ideals, navigating challenges to envision a prosperous and united Nigeria.
We pledge our unwavering support for your leadership and urge all Nigerians to unite in building a brighter future. Under your guidance, the Ministry has achieved significant milestones, including the establishment of the National Criminal Data Fusion Centre, the Digital National Convict Database, and advancements in community policing and technological resources for the Nigeria Police Force.
We are committed to the President’s Renewed Hope Security Agenda, enhancing safety and security for all citizens. Our collaboration with regional security initiatives, like the West Africa Police Information System (WAPIS), has improved law enforcement’s ability to share critical information across West Africa.
We emphasize accountability, efficiency, and professionalism, ensuring swift responses where no one is above the law. Additionally, we are accelerating inter-agency cooperation through innovative technologies to address security challenges effectively.
Once again, congratulations to His Excellency Bola Ahmed Tinubu on this special day.
Long live the Federal Republic of Nigeria.
Senator Ibrahim Gaidam CON,
Minister of Police Affairs
Glo Foundation, the Corporate Social Responsibility (CSR) arm of Globacom, on Saturday extended its Food Drive Initiative “Giving Back Together” to more communities as thousands of families in Ikota, Ajah, Lagos, received packages of food and household items from the team.
Two Saturdays ago, the foundation was in Bariga where it shared food and other household items to thousands of other vulnerable members of the community.
In a similar vein, Glo Foundation officials and the project partners, the Lagos Food Bank Initiative, last Saturday presented packages containing Rice, Garri, Spaghetti, noodles, tomato paste, tooth brushes, sardines, salt, vegetable oil, bread and seasoning cubes to thousands of beneficiaries, the majority of whom were women, at a ceremony held within the Ikota neighborhood.
Thousands of beneficiaries had assembled at the New Generation Baptist School in Ikota as early as 7 a.m. to await the start of the distribution.
Before the gifts were distributed, Globacom’s Head of Corporate Social Responsibility (CSR), Jumobi Mofe-Damijo, welcomed the recipients and reaffirmed the company’s dedication to aiding the underprivileged in the society. She pointed out that helping the most disadvantaged members of society nationwide was one of the Foundation’s goals.
“Giving brings joy and smiles to the faces of the beneficiaries as we have seen here today. It also makes us happy that we are able to do something to touch the lives of others in a highly interdependent world,” she noted, adding that the Foundation was working on other projects that would impact various segments across the country.
At the occasion, the beneficiaries, who were mostly women, expressed their happiness and gratitude to Globacom by singing and dancing. Some of them who expressed their opinions were happy that they were able to benefit from the gesture and prayed that Globacom would continue to thrive.
The recipients were ecstatic and unable to control their excitement. After getting their food gifts, a few of them spoke up and thanked and prayed for Globacom for showing their community such love and concern.
Christina Itoro, an Akwa Ibom indigene, who operates a POS business within the community, expressed happiness at the content of the package. “When I opened the carton and saw the content, I was so excited. May God bless the company and the staff,” she said.
For Godwin Mary, who sells Kunu drink, Globacom has come to her aid at a time that her business was crumbling. The native of Benue State thanked Globacom for remembering her and other women in the Ikate neighborhood.
On her part, Sarah Oliseh, who is a housewife, said: “I am very happy and so excited getting this from Globacom. It will definitely go a long way to help me and my family”.
