NSE Highlights Importance Of Capital Market In Achieving SDGs

The Nigerian Stock Exchange (NSE) has highlighted the critical role of the capital market in delivering sustainable socio-economic growth and development in the country.

This was articulated at the award ceremony of the 19th NSE Essay Competition for Senior Secondary Schools in Nigeria which held on Wednesday, 4 December 2019 in Lagos.

Miss Adeniyi Adesewa of Grandmates Secondary School emerged winner of the NSE Essay competition ahead of 40,965 other applicants across the country, clinching the N500,000 scholarship fund for her university education.

In addition, she got N500,000 worth of equity investment; and a laptop, while her school was awarded three desktop computers and a printer.

She was followed by Miss Temiloluwa Oladipo and Master Adeoye Okhai, both of Oritamefa Baptist Model School in the second and third place respectively, each of who were presented with university education scholarships, and equity investments, just as a laptop, along with desktop computers and a printer were presented to their school.

In addition, the top three winners were given the prestigious honour of a Closing Gong Ceremony at the Exchange, while seven other finalists received laptops in recognition of their good performance.

Present at the event was the First Lady of Lagos State, Dr Ibijoke Sanwo-Olu, represented by Mrs. Funke Omotosho, who commended the NSE for the initiative to national development, urging participants to stay committed to developing their skills.

The special guest of honour, Chuka Eseka, Chief Executive Officer, Vetiva Capital Management Limited and President of the Association of Issuing Houses of Nigeria (AIHN), challenged the students to develop strong savings and investment culture.

He thereafter awarded N250,000, N150,000 and N100,000 worth of money market investments to the top three winners on behalf of the Association of Issuing Houses of Nigeria (AIHN) and Vetiva Capital.

Speaking at the event, Chief Executive of the NSE, Oscar Onyema, emphasized the need for innovative solutions to leverage the capital market for the achievement of the Sustainable Development Goals (SDGs).

“We need to connect people with products and services that build human and physical capital, as well as bridge infrastructural gaps in Nigeria.

“We have also identified the critical role of millennials in achieving these outcomes evidenced by the overwhelming interest today’s youth have shown in this exercise. We were not only delighted by the thousands of entries we received this year – up over 100% from last year – but also impressed by the quality of progressive solutions articulated in the submissions, some of which will be presented today,” Mr Onyema added.

Mrs Modupe Adefeso-Olateju, Managing Director of the Education Partnership Centre in her keynote address urged the students to develop a range of skills that would ensure a sustainable future in light of our ever-evolving society. She also emphasized education, financial responsibility and integrity as important virtues to imbibe.

The NSE Essay Competition is designed to develop a culture of wealth creation amongst our youth towards “Building a Financially Savvy Generation”. Over the last 19 years, the competition has successfully increased awareness and inspired the active participation of the youth in Nigeria’s capital market. This year’s edition was supported by Zenith Bank Plc, Access Bank Plc, Prime Atlantic Limited and Hewlett Packard Nigeria Limited.

Photo caption: From left, Chuka Eseka, Chief Executive Officer, Vetiva Capital Management Limited and President of the Association of Issuing Houses of Nigeria (AIHN); Miss Lawrence Deborah, 2018 Winner, NSE Essay Competition; Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Miss Adeniyi Adesewa, Grandmates Secondary School, Isolo, Lagos, 1st place winner; Dr. Mrs. Funke Omotoso, representing Her Excellency, Dr. Ibijoke Sanwo-Olu, Wife of Lagos State Governor and Tuface Idibia, NSE Good Cause Ambassador. during the 2019 NSE Essay Competition Awards Ceremony in Lagos.

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