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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.
The Independent National Electoral Commission (INEC) has declared the candidate of the All Progressives Congress (APC), Mr. Lucky Aiyedatiwa, as the winner of the just concluded Ondo State governorship election, held on Saturday, November 16, 2024.
The Returning Officer for the election Olayemi Akinwumi, who is also the Vice-Chancellor of the Federal University, Lokoja, Kogi State declared Aiyedatiwa winner of the election on Sunday, extending the governor’s stay at the Government House in Alagbaka, Akure.
Governor Aiyedatiwa polled 366,781 votes to defeat his closest rival and a former deputy governor of the state Ajayi Agboola who flew the Peoples Democratic Party (PDP) flag. He scored 117,845 votes, more than twice lower than the APC candidate.
“That Lucky Orimisan Aiyedatiwa of the APC having satisfied the requirement of the law is hereby declared the winner and is returned elected,” the returning officer said at exactly 2:30 pm at the INEC collation centre in Akure.
The declaration came hours after the collation of results for the election began in the early hours of Sunday. Although the collation centre went on breaks, the APC took a commanding lead with over 200,000 votes ahead of the PDP.
The final results showed that the APC won the election in a landslide, clearing all 18 local government areas.
By Henry Ukazu
Dear Destiny Friends,
There is no gainsaying the fact that everyone desirous of making impact in life must live a life of purpose. This is where knowledge and information come to play. It is these knowledge and information that will set an individual apart from his contemporaries.
I strongly believe, if one is not informed, they are ill-informed, and when they are ill-informed, they can’t perform well in any given endeavour. This is because information leads to reformation and transformation. We can therefore, confidently say that information leads to formation because everyone is a product of what they know.
Knowledge acquisition is one of the best things that can happen to anyone. People with knowledge are revered, and highly respected. Having knowledge is like having money. People from all walks of life will seek you.
There are different kinds of knowledge, and they include Revealed Knowledge, which comes from those who wrote the Bible and Intuitive Knowledge, which comes from the mind. It is the ability to gain knowledge without conscious reason or explanation.
Others are Empirical Knowledge, which is information gained through observation, experimentation, and direct experience, rather than through theoretical reason or intuition; Authoritative Knowledge, which is the knowledge a man has because of his expertise in a particular field; and finally but not the least, Rational Knowledge, which is a form of knowledge that uses reasoning and philosophy to understand the world.
From this illustration, a decisive mind can see that knowledge is priceless. Knowledge is like education. It can provide security and access. Even the Book of life says in Proverbs 4:13, “your education is your life, guard it very well”; and in Hosea 4:6 that “my people perish for lack of knowledge”.
From my personal experience in life, apart from death, one of the greatest levelers of all time is education. This is because the child of a certified pauper can become a man of means tomorrow if properly educated. That explains why children from humble backgrounds ought to take their education very seriously, especially if they don’t have affluence.
On a personal note, I come from a very humble background, my late parents didn’t have the opportunity of acquiring a decent education, but they knew the value of education and endeavored to give me and my siblings a decent education. In retrospect, when I look back and see some of my contemporaries whose parents couldn’t give them a decent education, I bless my late parents because education has exposed me to lots of opportunities in the United States, and the global world in addition to granting me an audience with the high and mighty in society.
Sometimes, when I look at my modest achievement, I’m deeply humbled because I know it is the grace of God. Who am I to author two amazing trailblazers’ books, get featured and profiled by the New York Times, engage in high level conversation with leaders of thought and captains of industries. Apart from the grace of God, intentional seeking of knowledge, and wise counsel from mentors and strategically positioning myself have been some of the cornerstone to my success.
Imagine if my late parents didn’t give me a decent education and opportunity of travelling to the United States, most of these opportunities and exposure wouldn’t have been readily available.
When one is decently enlightened, educated and informed about life, their level of reasoning and understanding differ from an ordinary man. If one desires to go far in life, one must seek knowledge.
It is your knowledge that sets you apart from others.
According to Dr. Yomi Garnett, an accomplished Ghostwriter, “If you are a man of great knowledge, people will have great respect for you. If you are a man of great wisdom, people will have great reverence for you. And if you are a man of both, great knowledge and great wisdom, you will be the most eminent of men. But in real terms, people don’t care how much you know, or how much wisdom you have, unless they know how much you care.”
The moral of this quote is that despite the knowledge and information at one’s disposal, if one lacks empathy, their knowledge, experience and whatever they have mean nothing.
The importance of knowledge cannot be overemphasized. In our contemporary society, a fast way of attracting opportunities is by showcasing the knowledge at one’s disposal. It is so sad that many people don’t take time to read, research and learn new trends applicable in their industry, and in the world generally and as such, they find it difficult to fit in and grow.
It is instructive to note that when you seek knowledge, opportunities will seek for you. A major reason people are poor is simply because they are not solving problems and to solve problems, one ought to have understanding. Do you know that if you don’t have money, the reason is often because you are not solving a problem, or you are not solving enough problems, or you are not solving the right problem or you are not solving problems for the right people. Generally, we make money because we have something unique to offer to the world. Therefore, to solve problems, one must have knowledge and information.
We currently live in an age of technological, where skills, talent and creativity are in high demand. Any progressive being that desires to go far must be intentional in seeking knowledge. Successful acquisition of knowledge, information and understanding can lead to discernment and wisdom.
In conclusion, as you journey towards life, if you want to make an impact, seek opportunities, and earn more money, do yourself a favour by endeavoring to seek knowledge, wisdom, and information. You can’t get these by sitting on your sofa or staying in your comfort zone.
Henry Ukazu writes from New York. He works with the New York City Department of Correction as the Legal Coordinator. He’s the founder of Gloemi. He’s a Transformative Human Capacity and Mindset coach. He is also a public speaker, youth advocate, creative writer and author of Design Your Destiny Design Your and Unleash Your Destiny. He can be reached via info@gloemi.com
President Bola Tinubu has approved the appointment of Daniel Bwala as Special Adviser, Media and Public Communications (State House).
Bayo Onanuga, Special Adviser to the President on Information and Strategy, announced this in a statement, on Thursday.
A former aide of former Vice-President Atiku Abubakar, candidate of the Peoples Democratic Party (PDP) in the 2023 election, Bwala worked actively for his former principal who lost to Tinubu.
However, after the elections, he worked his way into the camp of Tinubu, sparking controversy.
Onanuga also announced the appointments of three directors-general of various agencies.
They are:
(1) Mr. Olawale Olopade — Director-General, National Sports Commission
(2) Dr. Abisoye Fagade — Director-General, National Institute for Hospitality and Tourism
(3) Dr. Adebowale Adedokun — Director-General, Bureau of Public Procurement
Olopade, the new Director-General of the National Sports Commission, is a sports administrator with many years of experience in the sector.
He served as commissioner of youth and sports in Ogun state and was chairman of the local organising committee of the 2024 National Sports Festival.
The new Director-General of the National Institute for Hospitality and Tourism, Dr. Abisoye Fagade is a marketing communication professional. He is the founder and managing director of Sodium Brand Solutions.
Adedokun, the new helmsman of the Bureau of Public Procurement, was the director of Research/Training and Strategic Planning at the bureau before his appointment.
Daily Trust
