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CIBN Commissions Bankers Hall At The Federal Polytechnic Nasarawa

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CIBN Commissions Bankers Hall At The Federal Polytechnic Nasarawa

Olushola Okunlade Writes

The Chartered Institute of Bankers of Nigeria has reiterated its resolve to strengthen banking and finance education in the country through the injection of professionalism into the teaching and learning of the course.

The CIBN Bankers Hall was commissioned at the Federal Polytechnic Nasarawa on Wednesday 12 October, 2022. The exquisite ultramodern edifice is a legacy project bestowed to the Federal Polytechnic endowed by the Chartered Institute of Bankers of Nigeria.

The state-of-the-art edifice is one of the six model projects across the six geo-political zones endowed by the Institute. The Federal Polytechnic Nasarawa was chosen based on its sterling record as the best-performing tertiary institution in the CIBN linkage program in the North-central zone.

The smart, ultramodern edifice which serves as a lecture theatre, demonstration class, and multipurpose centre was commissioned by the Emir of Nasarawa, who was ably represented by the Ubangarin Nasarawa, Dr. Dalhatu Jibril Usman

While performing the commissioning ceremony, the Emir expressed his profound appreciation for the thoughtful gesture of the CIBN leadership to build legacy projects across the nation aimed at boosting educational enterprise.

He described the project as a well-thought-of legacy because it would stand the test of time in adding value to education in the polytechnic.

CIBN Commissions Bankers Hall At The Federal Polytechnic Nasarawa
Past President CIBN, Dr. Uche Olowu, FCIB, Ubangarin Nasarawa, Dr. Dalhatu Jibril Usman, Rector, Federal Polytechnic Nasarawa, Dr. (ESV) Abdullahi Alhassan Ahmed, President Chairman of Council CIBN, Ken Opara, Ph.D., FCIB, Registrar/CE, Seye Awojobi, Ph.D. FCIB, 2nd Vice President CIBN, Mr. Dele Alabi, FCIB at the Commissioning of CIBN Bankers Hall endowed to Federal Polytechnic Nasarawa on Wednesday 12 October 2022.

In his remarks, the President/Chairman of the CIBN Council, Dr. Ken Opara, FCIB congratulated the Federal Polytechnic Nasarawa for emerging as the best Linkage institution in the North-central zone, an accomplishment that afforded the Institution the rare privilege of being the beneficiary of our Institute’s Legacy Project in the zone. It also gladdens my heart to note that the linkage collaboration which was consummated between our Institute and the Federal Polytechnic, Nasarawa on November 27, 2012, during the tenure of then Rector, Dr. Pius Otaru Salami, who was a former member of the CIBN Governing Council is waxing stronger and this very building being commissioned today, is a clear testimony and convincing evidence.

This is the fifth legacy building to be commissioned by the Institute this year, in five geo-political zones. However, this is the first he will be commissioning in his capacity as the President/Chairman of the Council of The Chartered Institute of Bankers of Nigeria (CIBN). The previously commissioned Legacy Projects are endowed at The Polytechnic Ibadan (South-West Zone), Abubakar Tafawa Balewa University (ATBU) Bauchi (North-East Zone), Federal Polytechnic, Nekede (South-East Zone) and Rivers State University (South-South Zone). Last but not least is Kano State Polytechnic (North-West Zone) which is the last of the first phase of completion.

In 2019, the Southern Swamp Associated Gas Solutions project was commissioned, and the SPDC JV is planning to reduce associated gas flaring further through its Forcados Yokri gas-gathering project, of which large parts are set to be completed in 2022. Despite such efforts to reduce continuous flaring, unfortunately flaring intensity (the amount of gas flared for every tonne of oil and gas produced) at both SPDC- and SNEPCo-operated facilities increased in 2021 owing to short-term operational issues. Flaring from SPDC-operated facilities increased by around 5% in 2021 compared with 2020. The increase was primarily because of the extended outage of the gas compression system in SPDC’s shallow-water operations. The system was restored and became operational from January 2022. Flaring at SNEPCo-operated facilities rose by around 160% in 2021 compared with 2020. This was mainly because of an increase in flaring on the Bonga floating production, storage and offloading (FPSO) vessel. Repairs to a flex-joint on the Bonga FPSO’s gas export riser in the second quarter took longer than expected, in part because of weather conditions. While repairs were under way, the FPSO continued to produce oil and therefore flaring was necessary for safety reasons. The repairs were safely concluded in July 2021. Although flaring intensity levels rose in 2021, SPDC and SNEPCo over the last 10 years have almost halved the combined amount of hydrocarbons they flare from 1.5 million tonnes in 2012 to 0.8 million tonnes in 2021. This reduction is the result of a strict flaring reduction management process and both SPDC and SNEPCo will continue to work in close collaboration with joint-venture partners and the government to make progress towards ending routine flaring of associated gas. NIGERIA LNG EXPANSION UNDERWAY Global demand for LNG continues to grow as the world increasingly seeks reliable supplies of lowercarbon energy. Shell’s investment in Nigeria’s gas infrastructure for export is expected to help 6 This is according to a data provided by global research and consultancy business Wood Mackenzie. the country benefit further from revenues. Shell Gas B.V. and its partners took a final investment decision in 2020 on a new LNG processing unit – known as Train 7 -- at NLNG. The expansion is expected to create around 12,000 jobs for Nigerians during construction and stimulate growth of the local oil and gas service sector, with 55% of engineering and procurement of goods and services being sourced in-country. Train 7 is expected to ensure Nigeria’s continued place as a global player in a lower-carbon energy source. Once operational, Train 7 will add around 8 million tonnes per annum of capacity to the Bonny Island LNG facility, taking the total production to around 30 million tonnes per annum. In 2021, NLNG began awarding procurement and construction contracts. Early works started at the site. The first phase of the worker village is expected to be ready for occupancy in 2022 and the new material offloading facility ready for use by the end of 2022. NLNG’s Train 7 is expected to come onstream in the middle of the 2020s. KEY LICENCE RENEWED FOR DEEP-WATER SNEPCo has interests in four deep-water blocks in the Gulf of Guinea, two of which it operates. Today, nearly one-third of Nigeria’s deep-water oil and gas production comes from the Bonga and the nonoperated Erha fields.6 Since production began in 2005, Bonga alone has produced more than 950 million barrels of oil with the 2021 average oil production per day at 105,000 barrels. The Bonga FPSO vessel has a total production capacity of 225,000 barrels of oil per day and 150 standard cubic feet of gas export per day. In 2021, the availability of the FPSO vessel increased to 80% from 70% in 2020. In addition to Bonga, SNEPCo’s exploration activities have led to several significant discoveries of oil and gas over the last two decades, including the Bolia and Doro fields (Shell interest 55%). Nigeria Briefing Notes Helping to power Nigeria’s economy 13 In the right investment climate, SNEPCo believes that there are opportunities to expand. In 2021 the OML 118 (Bonga) production sharing contract was renewed and the lease extended for 20 years. Bonga North and Bonga South West Aparo (BSWA) oil fields are two such potential opportunities. Bonga North is a proposed tie-back project to the existing Bonga FPSO with Phase 1 comprising 14 wells. BSWA is a development of a new FPSO with Phase 1 comprising 23 wells. SUPPORTING RENEWABLE ENERGY STARTUPS Millions of Nigerians are excluded from the country’s power grid and Shell Companies in Nigeria have established and provided substantial funding for a not-for-profit, impact-investing company called All On. Operating as an independent company, All On works to bring reliable electricity – often from renewable energy sources -- to off-grid urban and rural customers. This support aims to build a solid pipeline of viable businesses that can create the scale required to address Nigeria’s access to energy gap. In December 2019, SPDC and SNEPCo made a significant additional 10-year financing commitment of $160 million in All On, bringing the total commitment to $200 million. By the end of 2021, All On had provided investment capital to over 40 renewable energy start-ups in its portfolio – an increase of more than 30% from 2020. One such company is Infibranches Technologies Limited, to which All On has committed $2 million, which is expected to enable the indigenous technology company to expand sales of solar home systems via its more than 13,000 agent banking partners across Nigeria. With the support of the Rockefeller Foundation, the All On Hub was established in 2020 to provide nonfinancial support and build the capabilities of off-grid energy entrepreneurs. In 2021, the hub supported 81 ventures – nearly double the 41 supported in 2020. Also in 2021, All On, Odyssey Energy Solutions and the Global Energy Alliance for People and Planet launched a $10 million equipment financing facility as part of the DART pilot programme in Nigeria. 7 Hydraulic flying leads support the delivery of hydraulic fluid and/or chemicals between subsea equipment. 8 Subsea trees are an assembly of valves and other components used to monitor and control the production of a subsea well. DART will combine demand pooling, aggregated purchasing of solar equipment, and access to affordable finance to unlock economies of scale for solar companies, achieve cost savings for end-users, and accelerate the growth of the renewable energy sector in Nigeria and beyond. DEVELOPING LOCAL CONTENT AND SKILLS Shell Companies in Nigeria contribute to the growth of Nigerian businesses that can provide technical and support services to the industry. This includes the manufacture of tools and technical kits, the operation of helicopter flights in the Niger Delta, and strategic partnerships between foreign and local companies to stimulate technology transfer and capacity development. While there are government-required programmes in some areas, such as the Nigerian and Community Content Strategy embedded in the Assa North/Ohaji South gas development project, Shell Companies in Nigeria deliberately seek to contract local businesses wherever possible. In 2021, Shell Companies in Nigeria awarded $800 million worth of contracts to Nigerian-registered companies. Of these, 92% were companies with at least 51% Nigerian ownership. SNEPCo has awarded major engineering and construction contracts to companies that are indigenous, have local staff, or possess domestic capabilities in the country. At present, the manufacture and rebuild of hydraulic flying leads7 (HFLs) is being carried out in-country by wholly indigenous companies. Pressure Controls Systems Nigeria Limited, another Nigerian company, continues to refurbish old subsea trees.8 Sometimes, a lack of access to capital hinders Nigerian companies from competing for and executing contracts effectively. Shell Companies in Nigeria have provided access to nearly $1.6 billion in loans to 901 Nigerian vendors under the Shell Contractor Support Fund since 2012. These loans help improve their tendering opportunities.

He called on corporate organizations and well-meaning Nigerians to join forces with the Government to rebuild and revamp the educational system in Nigeria, as education remains the bedrock of any meaningful development. To sustain the system, the government and the striking members of the Academic Staff Union of Universities (ASUU) must reach an immediate and amicable settlement in favour of developing and sustaining the education section. It is heart-warming to note that “there’s light at end of the tunnel” as announced by ASUU. He, therefore, appealed and believe that the recent indications of a truce to end the exactly eight-month-old strike action shall become a reality in a matter of days to save the future of Nigerian youths and the nation.

“As the conscience of the banking and finance industry, you can rest assured that the Institute is resolute and committed to the observance and maintenance of ethics and professionalism among practitioners in the industry. The Institute will continue to foster and ensure that the highest standard of ethics is observed by practitioners in the discharge of their responsibilities to the banking public as well as enhancing the knowledge and capacity of all practicing Bankers and those who desire to become one, with the best-in-class learning models. We are resolutely committed to enhancing the employability and career growth of our members at all levels It is imperative to also inform our teeming students that the institute is also focusing on the welfare of GENZs, Alpha and Beta Generations as they are the future of our sustainable human capacity in the industry, especially in this digital age”

He lauded the Rector, ESV. Dr. Abdullahi A. Ahmed, for his pragmatic and purposeful leadership in the institution and his uncommon dedication to the Linkage program with the CIBN which has produced an ultra-modern Bankers Hall that is tastefully furnished and equipped, the Deputy Rector, (Admin), Dr. Abdullahi B. Makama, all the principal officers of the Polytechnic, the Dean School of Business Studies, Dr. Abdullahi D. Ibrahim, the Head of Department Banking & Finance, Mr. Busari Adekunle Hakeem, HCIB, Dr. Ekumankama, Ogbuagu, HCIB, (who was the coordinator of the Linkage program when it started in the school) for their contribution to the success of the project.

In his speech at the event, the Rector of the Polytechnic, Dr. (ESV) Abdullahi Alhassan Ahmed lauded the Chartered Institute of Bankers of Nigeria for its kind gesture in building a legacy project Polytechnic. The Rector described the CIBN as an organization that has shown uncommon commitment to the advancement of Banking and Finance education in Nigeria, adding that the donation of the Bankers Hall is a gesture that is noble because it is goaded towards uplifting educational standards. Remarkably, the Rector pledged the commitment of the Polytechnic towards the maintenance of the edifice for the sake of posterity.

Dignitaries at the event cut across all strata of the society just as the Polytechnic community came out en masse to savour the euphoria of the ceremony.

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Giving.NG Partners Shoprite Nigeria On 40 Days Of Giving Campaign

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Giving.NG Partners Shoprite Nigeria On 40 Days Of Giving Campaign

By Moninuola Sulaiman

Giving.NG is partnering with Shoprite Nigeria on the “40 Days of Giving” campaign, aimed at inspiring people and organizations to spread kindness and treat it as an everyday thing, rather than a seasonal activity.

Giving.NG, Africa’s first and only free crowdfunding platform, has announced that it will begin a campaign in November to assist less privileged Nigerians and honor organizations and people carrying out exceptional, social impact work nationwide.

The campaign, themed “40 Days of Giving,” is being launched in partnership with Africa’s largest fast-moving consumer goods retailer, Shoprite Nigeria, and is expected to span the Christmas season and into the New Year.

Traditionally, the Christmas season is known to be a season of giving, with statistics showing that most donations are made during this time. Most people use the season to appreciate people who have been there for them all year round or give back to the less privileged. The 40 Days of Giving campaign plans to tap into this existing trend in a way that encourages people to give and creates a chain of giving that goes beyond the festive season.

Speaking about the campaign, Sterling One Foundation’s CEO, Olapeju Ibekwe explained that this was a much-needed campaign considering how tough the year has been, alongside the huge loss by the recent flood crisis in at least 32 states of the country.

In her words; “This campaign is about getting as many people as possible to join us in lending a helping hand to vulnerable Nigerians while supporting those changemakers who have been on the frontlines doing the same all year round. For each day of the campaign, we want to support at least one person, selected through an online nomination with their next meal, resources to restart their small business, or just new clothes. We just want to spread kindness to many people daily.”

The 40 Days of Giving campaign is expected to kick off on November 29, 2022, the last Tuesday of November, is recognized globally as Giving Tuesday and runs until January 7, 2023. As part of the campaign, people can donate money to a fundraiser on the Giving.NG platform or items at designated points, including Shoprite stores nationwide.

Commenting on their partnership to execute this, Shoprite Nigeria’s Head of Marketing, Kunle Abiola stated that the campaign is a laudable initiative that has a lot of potential to bring change into people’s lives. In his remarks, he said;
“Beyond want the items donated can do for the beneficiaries, we are keen on the hope that these acts of kindness can spread among Nigerians. We are giving our shoppers an opportunity to be part of a very noble initiative and we know they will buy into it.”
With this partnership, shoppers can buy items at any Shoprite store across the country and drop them off at designated points in the store from where they will be collected and redistributed to selected NGOs or given out in-store as a paid-forward gesture to other shoppers. Some of the beneficiaries nominated online will also receive shopping vouchers which they can redeem at any Shoprite store closest to them.

Both brands are also hopeful that they can grant as many wishes as they can from the nominations and requests they will receive, even as they look forward to having Nigerians join them in playing ‘Everyday Santa’ and spreading kindness.

Know More About Giving.ng: Giving.ng is Africa’s first free crowdfunding platform with a focus on projects around health, education, gender equality, food security, and climate action. Established by the Sterling One Foundation, the platform provides finishing grants to organizations and individuals who launch fundraising campaigns on it and access to expert and volunteer support for project implementation. In addition, Giving.ng enables long-term commitment to projects through a recurring donation feature, allowing donors to support certain projects and initiatives with consistent monthly, quarterly, or yearly donations.

Know More About Shoprite Nigeria: Retail Supermarkets Nigeria Limited (RSNL) is the operator of the Shoprite franchise in Nigeria. Since opening the first Shoprite Nigeria store in December 2005, the company has redefined the landscape of retail markets in Nigeria, currently running a hypermarket chain of 25 outlets across 12 states and the Federal Capital Territory, Abuja. Having been fully acquired in 2021, the company plans to add new stores to its chain to optimize visibility and distribution for a wide variety of Nigerian-made products, fresh produce direct from local farmers, and international brands.

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Comedian Alhaji Musa Appeals To CBN Governor For BDCs At 57th CIBN Bankers’ Dinner

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Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner

…allow BDCs to commence legitimate operations – Alhaji Musa

Rashidat Olushola Writes

A comedian Alhaji Musa neduwazobia as popularly known has begged the CBN Governor, Mr. Godwin Emefiele on behalf of the BDC operators at the 57th CIBN Bankers’ Dinner.

The comedian neduwazobia intercedes for the Association of Bureaux De Change Operators of Nigeria (ABCON) while discharging his duties to put some smiles and laughter on the faces of guests at the event, and begged the CBN Governor to tamper justice with mercy.

He appealed to the Central Bank of Nigeria (CBN) to allow Bureaux De Change (BDC) operators to continue to sell dollars to retail end to foreign exchange (forex) buyers.

Chinedu Ani Emmanuel known as Alhaji Musa is a Nigerian personality on the air, a journalist, a television presenter, an actor, a comedian, and a content creator. He is famous for adding a unique twist to his pidgin interpretation of daily news on the popular Wazobia FM 94.1 Lagos radio station.

Teni Makanaki thrilled the guests on a digging dance floor with her performance at the 57th Annual Bankers Dinner.

Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner
Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner
Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner
57th CIBN Bankers’ Dinner: "Inflation Is Also Driven By Local Factors" - Emefiele
Mr. Godwin Emefiele, CBN Governor.

Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) says the number of Nigerians seeking foreign education is to blame for the fall of the naira.

Emefiele said this at the 57th Annual Bankers Dinner, organised by the Chartered Institute of Bankers Nigeria (CIBN), in Lagos on Friday 25th of November 2022.

The dinner had the theme, “Radical Responses to Abnormal Episodes: Time for Innovative decision-making” which was appropriate and well-timed.

According to Emefiele, there was a tremendous increase in visa issuances to Nigerians by the United Kingdom in 2022 alone. Central Bank Governor, Emefiele blames Nigerians traveling to the UK, US, and others for education for Naira fall.

The apex bank governor noted that the number of student visas given to Nigerians by the United Kingdom spiked from a yearly average of about 8,000 visas in 2020 to almost 66,000 in 2022, implying an eight-fold increase amounting to $2.5 billion yearly in study-related forex outflow to the UK alone.

He stated that the move had immensely put pressure on Nigeria’s foreign reserves and the Naira.

CBN Governor said, due to this and the need to increase forex earnings, the CBN and the Bankers’ Committee started the RT200 scheme in February 2022.

He added that the steady increase in headline inflation from 15.60 per cent in January to 20.77 per cent in September was consistent with global trends.

Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner
Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner
Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner

Recall that the Central Bank of Nigeria (CBN), on July 27, 2021, announced the ban of dollar sales to BDCs as a result of foreign exchange infractions, and pushed genuine demand for forex to commercial banks.

Emefiele in July 2021 said the measure is not punitive on anyone, but it is to ensure the CBN is able to carry out its legitimate mandate of serving all Nigerians.

The Central Bank of Nigeria on July 27 2021 says it has ended the sales of forex to Bureau De Change operators, saying the parallel market has become a conduit for illicit forex flows and graft. CBN also said it will no longer process applications for BDC licences in the country. Weekly sales of foreign exchange by the CBN will henceforth go directly to commercial banks, the CBN governor, Godwin Emefiele, said on Tuesday in a live TV broadcast after announcing that the bank has retained its benchmark policy rate.

The BDC operators claim they remain the most potent tool for the CBN to achieve its forex rate management.

The Association of Bureaux De Change Operators of Nigeria (ABCON) National Executive Council (NEC) recently appealed to the CBN to revisit the stoppage of dollar sales to the BDCs to bring lasting stability to the Naira.

ABCON said Nigeria needs to balance fiscal sustainability with the need to mitigate the effects of these overlapping crises on the poorest citizens. The excruciating pressure on commodities especially oil and gas globally is not exonerating the poor in Nigeria.

Teni electrifies the guest with her performance at the 57th Annual Bankers Dinner.
Dr. Ken Opara FCIB, President CIBN.
Teni electrifies the guest with her performance at the 57th Annual Bankers Dinner.
Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner
Comedian Alhaji Musa Appeals CBN Governor For BDCs At 57th CIBN Bankers' Dinner

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Corpreneurship Challenge: Unity Bank Splashes N10M Grant On 30 Corps Members

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Corpreneurship Challenge Unity Bank Splashes N10m Grant On 30 Corps Members

Olushola Okunlade Writes

Unity Bank Entrepreneurship Development Initiative – Corpreneurship Challenge, targeted at empowering fresh graduates and Corp Members on one-year compulsory national youth service has, in its ninth edition of the Corpreneurship Challenge held across 10 States recently, doled out N10 million grant to 30 winners.

The winners emerged after a business pitch presentation held across 10 States; namely, Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa, and Enugu, with each state producing three winners who took home cash grants of N500,000, N300,000 and N200,000.

The winners of this ninth edition included Corp Members focusing on developing entrepreneurship in renewable energy, fashion, beauty, agro-processing, confectionaries, etc.

Corpreneurship Challenge Unity Bank Splashes N10m Grant On 30 Corps Members
Left-Right: 2nd Prize Winner – Ilesanmi Olamide Phebe, 1st Prize Winner – Muoneke Gift & 3rd Prize Winner – Ekanem Moses Idorenyin – Winners of the recently held Corpreneurship Challenge Initiative at the NYSC Camp Rivers State.

Some of the winners at the Rivers State NYSC Orientation camp at Nonwa Gbam Tai included Muoneke Gift, whose business plan on renewable energy took home the grand prize of N500, 000; followed by Ilesanmi Olamide’s business proposal on beauty services to claim the N300, 000-business grant for first runner up. Ekanem Moses Idoreyin’s confectionary business proposal took home the N200, 000 grant.

The winners emerged after their business plans were assessed by a panel looking out for business ideas that demonstrate originality, marketability, future employability potential of the product, and knowledge of the business.

The Unity Bank Corpreneurship Challenge has gradually joined the league of some of the most impactful, youth-focused entrepreneurship development initiatives in Nigeria, empowering no fewer than 100 young entrepreneurs over the past three years.

Recently, one of the beneficiaries in Sokoto, Beulah Yusuf, who emerged as second runner-up in one of the editions successfully launched her recycling business with the grant received from the Bank. She unveiled her products widely acclaimed for addressing environmental pollution and waste management inefficiencies, underscoring the Bank’s motivations to sustain the initiative.

Corpreneurship Challenge Unity Bank Splashes N10m Grant On 30 Corps Members
Left-Right: 2nd Prize Winner – Ilesanmi Olamide Phebe, Unity Bank Plc Regional Manager, Port Harcourt/Uyo Region – Mr. Etop Uma Ukpe, 1st Prize Winner – Muoneke Gift NYSC State Co-ordinator – Mr. George Mfongtari, & 3rd Prize Winner – Ekanem Moses Idorenyin during Unity Bank Corpreneurship Challenge Business Pitch Presentation held at the NYSC Orientation Camp, Rivers State recently

Speaking during the finale at Rivers State NYSC Orientation Camp recently, the Group Head, Retail, E-Business, and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade, said the Bank was delighted with the impressive records the Corpreneurship Challenge has pulled so far.

“When we launched the initiative in 2019, we set out to empower the next generation of entrepreneurs that will disrupt the job market by creating much-needed jobs across all sectors. Today, we have come a long way and the Corpreneurship Challenge has lived up to its billing.”

Represented by Regional Manager, Port Harcourt Region, Unity Bank Plc, Mr. Eto Ukpe, Akinmade reiterated the Bank’s commitment to sustaining the initiative and mainstreaming the Corpreneurship Challenge as a reliable and impactful entrepreneurship and business empowerment and mentorship program in the country.

“What we have today in the labour market is far from the ideal. However, it is not enough to keep complaining. We must make lemonade out of lemon. We believe that the Corpreneurship Challenge has proved to be one of the most creative approaches to tackling the intractable crisis we have in the job market in Nigeria.”

“Our goal is to expand this program to all 36 states and sustain it for as long as possible to achieve record impact. We continue to encourage the winners to continue to learn the rudimentary lessons necessary to build a successful business. We emphasize that the budding entrepreneurs who take part in this initiative constantly think about the challenges they will face and put the same energy they all have displayed in preparing for this contest in their businesses as they face their post-service year ahead.”

The Corpreneurship Challenge, which has earned the Bank national recognition for its impact on youth empowerment and job creation, has continued to elicit growing interest among the corps members, attracting over 2000 applicants and participation in every edition. 

In partnership with the NYSC Skill Acquisition and Entrepreneurship Development, SAED, the initiative prominently features a business pitch presentation that provides the participants with the opportunity to present their business plans and stand a chance to win up to N500, 000 cash in the business grant. 

So far, Unity Bank has invested over N100 million in the initiative which has now produced 118 winners since it was launched in 2019.

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