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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.
Armed policemen have taken over the Wadata Plaza headquarters of the Peoples Democratic Party (PDP) in Abuja, as tension continues to mount over the party’s National Executive Committee (NEC) meeting, which is expected to hold today.
Channels Television quoted an unnamed party official, who alleged that the police were deployed to stop the proposed NEC Expanded Caucus meeting.
Though some staff members of the party were initially allowed to go into the premises of the secretariat without any resistance from the police, they were later sent out.
Journalists were also been asked to leave the premises of the secretariat.
Some policemen were seen cordoning off Dalaba Street, which is the road leading to Wadata Plaza.
The Presidency has said there has been no change in the position of Senator George Akume as Secretary to the Government of the Federation.
“There has been no change in the status of His Excellency, Senator George Akume, as Secretary to the Government of the Federation,” Special Adviser to the President on Information and Strategy, Bayo Onanuga, said in a statement made available to journalists.
The statement is titled ‘Akume Remains SGF.’
This followed multiple reports which quoted Presidency sources saying Tinubu had named his Special Adviser on Policy Coordination, Hadiza Bala Usman, to serve as the new SGF.
Onanuga said, “President Bola Tinubu, currently in Saint Lucia, has not made any new appointments.
“The information circulating about Akume’s replacement is untrue. Agents of mischief fabricated it.
“The Presidency advises Nigerians to disregard the fake news.”
By Henry Ukazu
Dear Destiny Friends,
It is everybody’s desire to be successful in whatever field of endeavour he finds himself. It can be in career, family life, business endeavors or personal development. But there’s absolutely nothing good that comes easy. Everything in life involves a lot of hard work, smart work, dedication, discipline, network, sacrifice, prayers, and determination among a whole lot if one is intentional to succeed.
Of a truth, success is not for the faint-hearted. In all honesty, everyone wants to be ahead of everyone, especially contemporaries and funnily enough, the average human being sometimes have a bit of ill- feeling when competitors arise or seem to outsmart them either with better quality or price. The good thing about this however, is that it makes one sit up.
Now, this brings us to the essence of today’s article. For anyone to be ahead of their competitors, they must fly like the eagle. Eagles are known for their powerful build, sharp vision, and fearless nature. They are highflyers, capable of soaring to great heights, and gliding for extended periods. Eagles are also known for their tenacity, using storms to their advantage to gain altitude. Other notable characteristics include their strong talons and beaks, used for hunting, and their protective nature towards their young. These are some of the qualities that make it unique.
The eagle is not regarded as the king of the sky for fun, no. The eagle flies so high because that’s where it gets a chunk of its strength. This ability enables the eagle to take its prey and predators alike to it’s abode where it will have enough emotional and physical strength to dismantle them.
I will be sharing characteristics of an eagle to enable us know why we ought to be like the eagle if we want to soar.
VISION
The eagle has a sharp vision. Their vision is so precise. They can see farther than any animal. They possess exceptional eyesight, allowing them to spot prey from great distances. As human beings, we must have eagle eyes to know what we really want, and what we don’t want. Vision allows us to go for what we desire and deserve. When we have vision, we won’t wait for anyone to tell us when to strike. We flow through the wind despite the waves and heavy current and associated challenges. When our vision is precise, it will give people clarity to understand how they can assist us.
Let’s take a closer look at great leaders of this world who have come and gone. There are many great leaders that came and went but one characteristic that is common in all is “Vision”.
Vision is a successful leadership characteristic
You must have a vision that guides and leads your team towards the organizations or societal goals. The vision must be big and focused. A big, focused vision will produce big results
FLIGHT
Eagles are known for their ability to soar and glide, using their large wings to their advantage. Eagles can fly up to an altitude of 10,000 feet, but they are able to swiftly land on the ground. At 10, 000 feet, you will never find another bird. If you find another bird, it must be an eagle.
An eagle doesn’t mingle around with the pigeons. It was Dr. Myles Munroe who said that. Pigeons scavenge on the ground and grumble and complain all day long. Eagles are not. They fly and make less noise waiting for opportunities to strike their next prey or glide with the current of the storm.
Great leaders are problem solvers. They don’t complain like the pigeons do. They love to take challenges as the eagle does when the storm comes. As human beings, we all have our strengths and weaknesses.
It’s always good for one to take any fight to their home ground where it will give them advantage over their predators. For instance, a fish is stronger in water, but weak on land, a lion is stronger on land, but weak in water, a monkey is strong on trees but weak on air. Just like an eagle is strong on air and weak on water and land. That’s why it always takes its prey to the sky where they have greater advantage to shine.
As human beings, we also must know what we are naturally good at, the ability to know this will enable us to maximize our strength and work on our weakness. We can only do this when we know ourselves and what we are naturally good at. Our ability to focus on our expertise and what we are naturally good at will make us unique and ahead of our contemporaries.
TENACITY
The eagles are known for their ability to withstand storms and use them to their advantage, rising above the challenges. Watch an eagle when a storm comes. When other birds fly away from the storm with fear, an eagle spreads its mighty wings and uses the current to soar to greater heights. The eagle takes advantage of the very storm that lesser birds fear and head for cover.
Challenges in the life of a leader are many. These are the storms we must face as leaders to rise to greater heights. Like an eagle, a leader can only rise to greater heights if he takes up the challenges head on without running away from it. This is yet another leadership characteristic.
As humans, we all will experience challenges and setbacks, however, the ability to apply strength will go a long way to show how determined we are to overcome the hurdles that pose as challenges.
FEARLESS
An eagle will never surrender to the size or strength of its prey. It will always give a fight to win its prey or regain its territory.
Successful leaders are fearless, so we are expected to fear no man, but respect all men. They face problems head on. We are supposed to have the eagle fearless mindset regardless of how big the problem may appear. Confront your fear and rise or face your fear and run. The choice is yours.
VITALITY NATURE
One of the strongest characteristics of an eagle is their vitality. Eagles are full of life and are visionary, but they find time to look back at their life and re-energize themselves. This happens at about the age of 30. What happens is that when the eagles reach the age of 30, their physical body condition deteriorates fast making it difficult for them to survive.
What is interesting is that the eagle never gives up living, instead it retreats to a mountaintop and over a five-month period goes through a metamorphosis. As humans, we are expected to reexamine ourselves, retreat to a safe zone. We can do this by fasting as Christians, we can also do this by learning new skills, volunteering our time and seeking for mentors who can hold us by the hand to show us how the appearance of life is not the reality of life.
In conclusion, as human beings, we are encouraged to be like an eagle if we want to scale through life.
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 and Unleash Your Destiny . He can be reached via info@gloemi.com
