FirstBank, JAN motivate young entrepreneurs via NICOY competition

First Bank of Nigeria Limited through its consistent backing of the Junior Achievement Nigeria (JAN) programmes is motivating budding entrepreneurs to succeed in their endeavours.

The bank, which partnered with JAN to host the National Company of the Year (NCOY) Competition 2024 with the theme ‘Greenovation’ advised the student entrepreneurs on the benefits of becoming financially savvy and building their businesses.

The 2024 competition held in Lagos comprised 12 schools representing different states, who were finalists from an earlier contest, locking horns.

Speaking at the event, First Bank Managing Director, Olusegun Alebiosu, said the healthy competitions have been instrumental in bringing out the economic prowess in the younger people thus bridging the gap between the classroom and the larger world.

He noted that the overarching goal of the competition to empower young people to own their economic success by enhancing the relevance of education is in line with FirstBank’s FutureFirst Initiative, its financial literacy and career counselling programme established to promote financial inclusion amongst the youth.

The programme, Alebiosu said, is also in alignment with the broader education pillar of our sustainability agenda, particularly engagement with our host communities.

“This is why FirstBank, in the past 10 years, has been fully committed in its partnership with JAN, and sponsorship of the National Company of the Year competition,” he stated.

Alebiosu who was represented by the General Counsel of the bank, Raymond Mgbeokwere, said more than 1,500,000 young Nigerians in over 2,500 schools have been impacted through the Bank’s FutureFirst initiative, providing financial literacy, entrepreneurship and career counselling to students.

His words: “We have also continued to strategically drive sustainability practices through our commitment to these innovative programmes organised by JAN.

“Seeing the interesting line-up of the various projects by the student companies participating in this year’s competition, I can confidently say that there is hope for Africa beyond what our minds can comprehend! I commend the hard work and enthusiasm that went into these innovative projects.

“Greenovation is not just about innovative products or technologies; it is a mindset – recognising that every individual, business, and institution has a role to play in shaping a sustainable future. Whether it is through renewable energy, sustainable agriculture, or waste management, the pursuit of innovation must always be driven by a desire to create lasting positive impacts and eradicate or at least minimize the negative impacts of our activities,” he said.

Alebiosu further emphasised the importance of sustainability and the need for collaboration to tackle pollution, waste disposal and environmental infractions through recycling or upcycling.

Senior Programmes Manager, JAN, Olaolu Akogun, said the businesses were assessed in terms of ideas, financial reports, presentations and exhibitions before winners were picked by a team of judges who were carefully chosen from different fields to determine the businesses of participants.