First Bank of Nigeria Limited is, through its consistent backing of the Junior Achievement Nigeria (JAN) programmes, motivating budding entrepreneurs to greatness.
The bank, which sponsored the JAN National Company of the Year (NCOY) Competition 2023, advised the student-entrepreneurs on the benefits of becoming financially savvy at young age and building their businesses.
The Sustainable Future Advocate Company, from Kosofe Secondary School, Lagos emerged overall winner at the contest held in Lagos.
Royal Inc. from Alaba Lawson Royal College, Ogun State came second, while K. C. Integrated Services from Kano Capital Girls Secondary School took the third position.
The NCOY competition 2023, is themed: “Breaking barriers’, and the winners produced Plantain Briquettes, Eco Jeans Bag, KC Oil for contraceptive, while 13 schools participated in the contest.
Group Head, Marketing and Corporate Communications Department, First Bank of Nigeria Limited, Mrs. Folake Ani-Mumuney said the bank remained committed to fostering an entrepreneurial mindset in children and young adults, thereby enhancing their creativity, wealth creation and management skills.
Ani-Mumuney, who was represented by the Head, Brands and Stakeholders Management, FirstBank, Olayinka Ijabiyi called on public-private sectors, government and non-governmental organisations, individuals and corporates to pool resources to support these innovations.
She said there was the need to make them become investor-friendly, thereby supporting large-scale productions for local use and, ultimately, exportation, adding that it would achieve the double-barreled effect of growing the economy as well as triggering a paradigm shift from Nigeria being a consuming to a manufacturing economy.
Mrs. Ani-Mumuney noted that JAN has not only succeeded in bridging the classroom and the workplace for children and young adults, but has also influenced their economic prowess to ‘make life’ by being creative and innovative solution providers.
According to her, the goal of the Junior Achievement Company Programme is to empower young people to their economic success by enhancing the relevance of education, in line with FirstBank’s FutureFirst Initiative.
She said the bank’s initiative, which is its financial literacy and career counselling programme, was established to promote financial inclusion among the youth.
“The programme is also in alignment with the broader education pillar of our sustainability agenda, particularly our engagement with our communities.
“The initiative also aims at empowering secondary school students to build fulling careers and be financially conscious and savvy from a young age as we aim at helping young people gain the tools and knowledge to make effective and informed financial management decisions and achieve long term financial independence.
“Through this initiative and FirstBank’s partnership with Junior Achievement Nigeria, over one million young Nigerians have been impacted as we have continued to strategically drive sustainability practices through the innovation and participation of students in the JA Company programme.”
“FirstBank’s sponsorship of the JAN National Company of the Year competition (and by extension, the Africa Company of the Year- ACOY) enters its 13th year today and we are extremely excited by the success we have achieved over the past years,” she added.
Speaking further, Mrs. Ani- Mumuney said it is imperative to highlight that the theme for this year’s event, “Breaking Barriers”, clearly encapsulates the desire to drive a burning passion in these young minds to transcend limitations, push the boundaries of what is possible, dismantle seemingly obstacles, smash through the glass ceiling that often inhibit their growth, and realise the dreams that others might consider unattainable. She maintained that the projects clearly address problems which are very pertinent in contemporary society.
The projects she said, includes climate change and waste management challenges, adding that in 2022 FirstBank institutional approach to kindness called Start Performing Acts of Random Kindness (SPARK) initiative was integrated into the National Company of the Year Programme.
She said, “This values-based approach entailed that each student company should channel 10per cent of their profits to Corporate Social Responsibility (CSR). “We are excited to say that this values-based approach has been fully domesticated with the program and has now become a core of the Company Program.
“It is our believe that this will further our drive to create sustainable entrepreneurs and advance sustainable innovation required for sustainable businesses in a world that is increasingly changing. It is therefore our responsibility to remain consistent in ensuring their mentorship at the different phases of implementation to keep them on course and bring the best out of them”.
