Team Galactic from the Obafemi Awolowo University (OAU), Ile-Ife has emerged winner of the maiden edition of the Chartered Institute of Management Accountants (CIMA) 2015 Global Business Challenge (GBC) in Lagos at the weekend.

The team emerged winner after two rounds of the competition judged by CIMA assessors and some of Nigeria’s top business leaders.‎

The GBC is an international competition designed to test teamwork, business analysis and presentation skills in potential young business leaders as they compete against the best and brightest from universities around the world.

Team Galactic comprised of Miss Bolanle Oduntan, Miss Bamigboye Grace, Mr. Samuel Anjorin and Mr. Agbelese Mayowa.

FUTOITES Business Team from Federal University of Owerri came second and Team N-Ergy from OAU was third.

Dream Team from the University of Ilorin rounded off the teams that participated in the national final.

The teams were shortlisted by CIMA Assessors from a pool of 95 teams from 17 universities that submitted entries for the competition.‎

For emerging tops in Nigeria, Team Galactic got an all-expenses paid trip to participate at the global final, cash prize of N300,000 (three hundred thousand Naira), management books for their university and full membership of the CIMA undergraduate club.

After an evaluation of video and PowerPoint presentations by the four teams and a question and answer session, Team Galactic was adjudged the first among equals by a panel of judges comprising of business leaders and board room gurus namely Sir Demola Aladekomo, chairman, SmartCity Resorts Plc; Mr. Laoye Jaiyeola, director general, Nigerian Economic Summit Group; and Mr. Seni Adetu, immediate past MD/CEO, Guinness Nigeria Plc.

Other members of the panel of judges were Ms. Megha Joshi, CEO, Lagos Court of Arbitration and Ms. Anita Dele-Dickson, Head of Relationship Management, Stanbic IBTC Pension Managers Limited (SIPML).

Announcing the competition results on behalf of the panel of judges, Sir Demola Aladekomo, commended CIMA for creating the Global Business Challenge as a platform for future leaders to showcase their talents, and for extending the competition to Nigerian undergraduates.

He lauded the solutions presented by the various teams, describing the four teams that made it to the national final as winners in their own right for being the best of the 95 teams that submitted entries for the competition.‎

According to Aladekomo, “The national final was very competitive with the different teams demonstrating good understanding of the case study as reflected in the solutions they proffered to the Oil and Gas business case study provided by CIMA.

The panel of judges was impressed with the team work, in-depth analysis, appreciation of strategic issues and the business savvy showcased by the undergraduate students that make up the teams during their presentations.‎

“I would like to commend Team Galactic from the Obafemi Awolowo University on their outstanding performance and on becoming Nigeria’s first CIMA GBC national champions. Team Galactic really stood out for the judges because of their consistent outstanding performance across all points of evaluation.

“The first runner up, the FUTOITES Business Team and second runner up, N-Ergy Team, also demonstrated good understanding of the case study but were no match for the exceptional Team Galactic which can hold its own against any of the other 25 teams from across the world that will be competing at the global final.”

Ms. Ijeoma Anadozie, country manager, CIMA Nigeria, who announced the prizes, said “The competition has been a phenomenal success and Team Galactic should be truly proud on making it through to the global final.”

According to Ms. Anadozie, “The national champion, Team Galactic gets a cash prize of NGN300,000 (Three hundred thousand Naira only), management books for their university, and an all expenses paid trip to Warsaw – Poland to compete for the title of global champion against 25 other teams from across the world. First runner up, FUTOITES Business Teams gets a cash prize of NGN200,000 (two hundred thousand Naira) and management books for their university. Team N-Ergy, the second runner-up, as well as the Dream Team get cash prizes of NGN100,000 (one hundred thousand Naira) respectively. All our finalists are indeed winners.

“I would like to thank our esteemed panel of judges, sponsors and partners, Stanbic IBTC Pension Managers Limited, Lagos Court of Arbitration, Guinness Nigeria Plc, Nigerian Breweries Plc and Kiishi-Lagos Limited for their support; and of course the multitude undergraduate students from across the country who attended the national finals to cheer their favourite teams thereby ensuring we have a truly successful national final”.

This will be the first time that Nigerian undergraduates will participate in the prestigious annual global business competition.

The Nigerian final was co-sponsored by CIMA and SIPML, and was supported by Guinness Nigeria Plc, Lagos Court of Arbitration, Nigerian Breweries Plc and Kiishi-Lagos Limited.

‎The Global Business Challenge was designed by CIMA to bring out the best in young future business leaders and emphasizes on CIMA’s vision of developing and nurturing young talent around the world.

GBC helps undergraduate students to foster better interpersonal and communications skills, by working together as a four-member team to present a business case study.