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NCOY: FirstBank is powering the Next Generation of Nigerian Innovators and Entrepreneurs

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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.

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Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025

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Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025

 

 

The Honourable Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, Lokman Balkan, Turkish Airlines’ topshot, actresses Lilian Bach, Ronya Man, and Ghanaian-born broadcaster extraordinaire, Riyah Abdul, among others, are part of the high-flying guests and award recipients at the just-concluded The Expatriates Business Awards (TEBA) 2025.

 

Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025

 

The unique event, which was held at the prestigious Oriental Hotel, Lekki, Lagos, on Sunday, July 6th, 2025, celebrated Nigeria’s multicultural economic ecosystem. The colourful gathering was attended by industry notables including the Honourable Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, who was the event’s Chief.

 

 

The black-tie affair welcomed an elite audience of diplomats, corporate leaders, international investors, global citizens, and distinguished professionals whose presence reinforced the deepening bond between Nigeria and the international business community.

 

Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025

 

Anchored by the dynamic duo of Egypt-born media advisor Rania Elewa, who also went home with the award of Diaspora Trailblazer, and Cameroonian music-comedy sensation Danny Green, popularly known as 237 TownCryer, the night was a celebration of global entrepreneurship, cultural synergy, and social impact.

 

 

Unlike conventional award platforms which primarily honour local players, TEBA is a trademarked celebration of Nigeria’s diverse economic tapestry, recognizing the contributions of ethnic enterprises and migrant professionals who are actively shaping Nigeria’s GDP and socioeconomic advancement.

 

Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025

 

The event featured captivating exhibitions, cultural showcases, music, and comedy, creating a glamorous yet soulful atmosphere of unity and recognition.

 

Among the night’s highlights was the presentation of coveted awards to exceptional individuals and companies whose impact spans various sectors, including aviation, media, entrepreneurship, and entertainment. Notable honourees include: Turkish Airlines, an international airline which won Expatriate Airline of the Year 2024/25, Lilian Bach, the top actress, who won the Diaspora Distinction Award.

 

Also, Ghanaian born broadcaster extraordinaire, Riyah Abdul was TEBA’s Diaspora Revelation of the Year 2024/25, Ronya Man, a quiet but talented woman was the Cross Over Actress of The Year 2024/25, Avsatel Communications Ltd., an aviation company owned by Austra born Georg Eder MBA won Aviation Safety Champion of the Year 2024/25.

 

Others are MACE Industries Ltd., a notable aviation technology company owned by Mr. Manoj Tagjiani, which is the Aviation Technology Company of the Year 2024/25, while Cameroon-born Danny Green (237 TownCryer) went home with the Cross-Border Talent of the Year 2024/25.

 

On the list of the awardees is a talented entrepreneur, Pascale Olumayowa Rafqa who won the Expatriate Entrepreneur of the Year 2024/25, Mrs. Alice Adetona (Oyinbo Olonje), a Polish-born self-made chef was announced as Inter-Cultural Culinary Ambassador for her passion for Nigeria’s culture and culinary skills while Gambia beautician, Zainab Fatty was TEBA’s 2024/25 Serial Entrepreneur of the Year, and Swiss-born Mrs. Janice Udogu, married to a Nigerian won the Heritage Embrace Award for her love for the nation’s customs and tradition.

 

Others are CCECC, a top-flight international construction company with Construction Company of the Year 2024/25, and Nigerbirds Engineering – Emerging Aviation Powerhouse

 

Rt. Hon. Obasa, in his remarks, applauded the organisers for spotlighting the indispensable role of expatriate communities in Nigeria’s development journey. He noted that platforms like TEBA not only promote inclusivity and business diplomacy but also help position Lagos and Nigeria as a hub for multicultural growth and investment.

 

As one of the night’s hallmarks, partners and sponsors received premium visibility before an audience of decision-makers, industry influencers, and public officials, further reinforcing the value of public-private-international collaboration.

 

TEBA 2025 has cemented its place as one of the leading platforms promoting intercultural recognition, business excellence, and global synergy in Nigeria’s corporate and entertainment landscape.

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Tension Rises as LASIEC Delays Release of Candidate List Ahead of LG Polls

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Tension Rises as LASIEC Delays Release of Candidate List Ahead of LG Polls

Tension Rises as LASIEC Delays Release of Candidate List Ahead of LG Polls

With just days to the Lagos State local government elections scheduled for Saturday, July 12, 2025, tension is building as the Lagos State Independent Electoral Commission (LASIEC) has yet to release the official list of candidates. The delay has stirred widespread unease among candidates, political parties, and observers, raising questions about the transparency and credibility of the entire process.

Under the Nigerian Electoral Act and LASIEC’s own guidelines, candidate lists must be published well ahead of polling day to allow the public adequate time to assess their choices. The commission’s continued silence, however, is heightening suspicion and eroding trust across party lines.

Tension Rises as LASIEC Delays Release of Candidate List Ahead of LG Polls

When our correspondent visited LASIEC headquarters in Yaba earlier today, the premises bore a tense atmosphere, reinforced by a heavy police presence and barricades, giving the area a near-siege-like appearance.

A member of the All Progressives Congress (APC) in Epe, who requested anonymity, expressed frustration over the delay. “It’s worrisome and alarming that with just three days left, LASIEC has not published the list of contesting candidates. We are demanding answers. Their silence is simply unacceptable.”

There is growing speculation that LASIEC may be playing partisan politics by stalling the announcement of opposition candidates. However, even within the ruling APC, there is a lack of clarity. In Mushin, Shomolu, Onigbongbo, Agege, Alimosho Local Government and Local Council Development Areas, members remain uncertain about who their candidate is. While some suspect attempts to impose some candidates, nothing has been confirmed by the commission.

“If anyone says LASIEC is only screening APC candidates, that’s not accurate,” some APC members in Epe, Shomolu, Onigbongbo, Mushin, Ikosi-Isheri stated. “Even we don’t know who is running. There are rumors of internal interference, but without the official list, we’re left completely in the dark.”

The confusion appears to extend beyond the APC. A People’s Democratic Party (PDP) member in Apapa LGA, also speaking under condition of anonymity, alleged that internal disputes and external influences have complicated the selection process.

“There’s been a power struggle within the party over which candidates to field,” he said. “We heard the list was taken to an APC chieftain in Abuja for ratification. When it came back to Lagos, several names had been altered. This disruption has delayed LASIEC’s ability to finalize and release the list. The situation is chaotic, and many of our members feel betrayed.”

According to him, the changes were made without the consent of key party leaders, and many candidates—including some closely aligned with influential figures—were affected. “We are prepared for whatever happens. Saturday will reveal everything,” he concluded.

Some political analysts suggest LASIEC’s delay may be a strategic move to limit the window for legal action that could challenge the candidates or the process itself.

As election day draws near, the pressure is mounting on LASIEC to come clean and restore public confidence in the electoral system. For now, uncertainty reigns—and the credibility of the July 12 polls hangs in the balance.

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UNION BANK RESPONDS TO HIGH COURT RULING ON NICON INVESTMENTS LIMITED, GLOBAL FLEET AND JIMOH IBRAHIM CASE

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UNION BANK RESPONDS TO HIGH COURT RULING ON NICON INVESTMENTS
LIMITED, GLOBAL FLEET AND JIMOH IBRAHIM CASE

Union Bank of Nigeria acknowledges the recent judgment of Justice Abike Fadipe of the Ikeja High Court in the matter involving Senator Jimoh Ibrahim, NICON Investment Limited, Global Fleet, and the Bank.

We wish to assure our customers, partners, and the public that Union Bank operates with the highest levels of professionalism, ethical conduct, and legal compliance in all our dealings.

While we respect the authority of the court, we strongly disagree with the judgment delivered and have instructed our lawyers to file an appeal against it immediately.

The court’s findings, including its position on the consolidation of indebtedness, locus standi, and third-party liability, are at variance with established legal principles and the Bank’s
understanding of the facts. We are confident in our legal position and intend to vigorously pursue all lawful avenues to ensure that justice is served.

Union Bank had previously transferred the relevant debt obligations to the Asset Management Corporation of Nigeria (AMCON), and we maintain that all actions taken in this regard were in line with applicable laws and banking practice.

We reiterate our unwavering commitment to acting in good faith, protecting stakeholder
interests, and preserving the integrity that has defined our institution for over a century. The Bank remains resilient and focused on continuing to deliver excellent service and value to its customers.

We appreciate the continued trust and support of all stakeholders as we navigate this legal process.

 

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