E-Financial
UBA Foundation’s National Essay Competition 2019 to Reward Schools with Highest Entries
UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has commenced the 2019 edition of its annual National Essay Competition in Nigeria with a call for entries.
Now in its 9th year, the essay competition, targeted at senior secondary school students in Nigeria is organised annually, as part of UBA Foundation’s education initiative which is aimed at promoting the reading culture and encouraging healthy and intellectual competition amongst secondary school students in Nigeria and across Africa.
At the media launch which took place at UBA headquarters in Lagos, the call for entries was announced today.
Speaking at the event, Mrs. Bola Atta, chief executive officer, UBA Foundation, said the essay competition, which is in its ninth edition, will provide an opportunity for students in secondary schools across the country to put in their entries and to win prizes in the form of educational grants to study in any university of their choice on the African continent.
Beginning from last year, the prize money increased significantly as the UBA Foundation emphasises that education remains one of the foundation’s key initiatives.
The first prize for the UBA National Essay Competition is a N2 million educational grant, while the second and third prizes are N1.5 million and N1m educational grants respectively.
Speaking to the students and participants at the event, Bola Atta said, “To us at the Foundation, this is our drive to improve the quality of education across the continent.
It is also our way of giving back to the society. The competition is a key aspect of our investment drive in human capital, as we seek to improve knowledge base, allow students to express themselves and write creatively. We will continue to sustain the initiative because education is very important to UBA and we are more than committed to providing the necessary support for students in Nigeria and across the African continent,” she noted.
“We are driven by the mantra to do well and do good and we will not relent in our efforts to touch lives through our various projects, and initiatives,” Bola Atta told the excited students.
Explaining the modalities for the competition, she stated that entries received from students for the competition will be reviewed by a distinguished panel of judges made up of professors from reputable Nigerian Universities, who will then shortlist 12 best essays for further assessment.
Following this, a second round of the competition will involve the 12 finalists who will write a second supervised essay from which three best essays will be selected as the overall winners from the 12 finalists emerged from the first round of the competition.
Atta explained that the choice of essay for this year’s competition is one that helps promote creative and analytical thinking in students and helps them to be problem solvers. This year, the topic is “What do you think the government should do to control fraud in Nigeria?”
It is important to note that apart from Nigeria, the national essay competition has been taken to other African countries including Ghana and Senegal. More countries including Mozambique and Kenya will kick off the initiative this year. A unique component of this year’s edition is that, schools that turn in the highest number of entries will be recognised and rewarded a special prize by the Foundation.
Also speaking at the call to entries today, Ogechi Altraide, Group Head, Direct Sales Agency who spoke on the benefits of reading and writing essays, motivated the students to research into the topics and give it their best shot, adding that there is the need for them to focus on adapting themselves to happenings in their generation, and to have a growth mindset. This she explained, will ensure that they can apply themselves and conquer whatever challenges they are faced with.
According to her, reading and writing go hand in hand, and so it is important for students to keep abreast of how the economy can develop through reading and writing.
An English teacher from Holy Child College, Ikoyi, Mrs Ezechukwu Ngozi, gave the students tips on how to write good essays, and advised them to keep to the proper tenets of essay writing to come out tops in
As the CSR platform for the UBA Group, UBA Foundation embodies the Group’s CSR objectives and seeks to impact positively on societies through a number of laudable projects and initiatives.
Each year, the bank donates thousands of books to students in Nigeria and across Africa, under the ‘Read Africa’ initiative to encourage and promote the reading culture in secondary schools.
The Federal Inland Revenue Service (FIRS) has clarified that the Memorandum of Understanding (MoU) recently signed with France’s Direction Générale des Finances Publiques (DGFiP) is a strictly technical assistance and capacity-building framework.
The clarification comes after talks of concerns that the MOU is a means for foreign interests to gain control over Nigeria’s sovereign tax data.
On Thursday, the Federal Inland Revenue Service (FIRS) signed an MoU with France’s Direction Générale des Finances Publiques (DGFiP).
“At no point does it grant France access to Nigerian tax data, digital infrastructure, or operational control of our systems. All Nigerian laws regarding data protection, sovereignty, and cybersecurity remain fully in force, and the MoU includes robust confidentiality and data protection provisions,” Umar Ahmed, director, Intergovernmental Affairs, Federal Inland Revenue Service, said in a recent release.
The DGFiP is one of the world’s most sophisticated tax administrations, with over 100 years of institutional experience, a workforce exceeding 90,000 professionals, and globally recognised expertise in digital tax systems, institutional governance, taxpayer services, and public finance management.
Ahmed said that the partnership is advisory, non-intrusive, and mutually beneficial, designed to strengthen FIRS’ institutional capacity as it transitions into the Nigerian Revenue Service (NRS).
“The collaboration provides Nigeria with a unique opportunity to learn from international best practices in workforce management, digital transformation, tax policy development, and regional cooperation, while ensuring that Nigeria retains full control over its tax administration and data,” he said.
Ahmed said that local technology providers are not being sidelined; FIRS continues to engage and collaborate with Nigerian innovators, including NIBSS, Interswitch, PayStack, and Flutterwave.
“The MoU is not intended to deliver technical services, but rather to provide capacity-building, advisory support, and knowledge sharing based on DGFiP’s extensive institutional experience. The collaboration focuses on institutional strengthening, workforce development, digital transformation guidance, taxpayer education, policy modernisation, and regional integration—all fully aligned with Nigeria’s sovereignty and national interests,” he said.
The director said that the service is far from compromising national control. This agreement represents a strategic initiative to modernise Nigeria’s tax administration, enhance institutional capacity, and strengthen the country’s long-term economic resilience.
“Nigeria remains fully in command of its tax systems, data, and policy direction. FIRS remains steadfast in its commitment to transparency, professionalism, and collaboration in the pursuit of national development,” Ahmed said.
House of Representatives yesterday passed second reading a bill seeking to introduce a single, non-renewable six-year tenure for the Governor and Deputy Governors of the Central Bank of Nigeria (CBN), challenging the current CBN Act 2007 that allows an initial five-year term with reappointment option.
CBN
The legislation, jointly sponsored by Jesse Okey Joe Onuakalusi (Oshodi/Isolo Federal Constituency) and Majority Leader Julius Ihonvbere, proposes sweeping reforms to modernise the apex bank’s governance, unify the exchange rate system, ban foreign currencies for domestic transactions except via authorised channels, and align operations with international best practices.
Key provisions include separating the roles of CBN Governor and Board Chairman to curb power concentration, capping Ways and Means advances at 10 per cent of the previous year’s actual revenue to check inflationary financing, mandating 90 days’ notice with impact assessment and National Assembly briefing for currency redesign, and enhancing the Monetary Policy Committee with independent external experts plus macro-prudential tools and stress testing.
Onuakalusi, opening the debate, described the changes as “structural and forward-looking reforms” to protect the economy, restore monetary policy confidence, and bar the CBN Governor and deputies from partisan politics, stressing that the current Act no longer suits today’s realities amid past controversies like Godwin Emefiele’s tenure and the disruptive naira redesign.
He said: “The Central Bank of Nigeria is too critical an institution to operate under a framework that no longer reflects Nigeria’s economic realities or international best practices.
“This bill is not targeted at any individual or administration. It is a structural reform for economic stability, transparency, accountability, and sustainable governance.”
Deputy Speaker Benjamin Kalu put the bill to a voice vote, with lawmakers unanimously endorsing its passage at second reading. A similar Senate bill for a single six-year tenure had passed second reading in February 2024.
E-Financial
Sterling Bank, Pan-Atlantic University Partner to Certify Non-Oil Export Academy Graduates
Sterling Bank Limited has signed a Memorandum of Understanding (MoU) with Enterprise Development Centre (EDC) of Pan-Atlantic University (PAU) to certify graduates of its Non-Oil Export Academy.
L-R: Kola Oluyemi, Group Head, Sterling Academy; Dr. Nneka Okekearu, Director, Enterprise Development Centre (EDC), Pan Atlantic University (PAU); Abubakar Suleiman, MD/CEO, Sterling Bank; Dr. Nnenna Ugwu, Head, Alumni Engagement and Support Services, EDC at PAU; and Akporee Idenedo, Divisional Head, Commercial Banking, Sterling Bank at the recent MoU signing to certify graduates of Sterling Bank’s Non-Oil Export Academy.
This strategic partnership underscores the Bank’s commitment to diversifying Nigeria’s economy by supporting non-oil export growth.
This landmark agreement follows the recent launch of the Sterling Bank Non-Oil Export Academy, designed to position Nigerian exporters for global competitiveness.
The launch was preceded by a series of nationwide training programs in Lagos, Ondo, and Kano states, culminating in a grand finale themed “Excel in Non-Oil Export.”
The initiative aims to equip exporters with practical tools to thrive in international markets, thereby reducing Nigeria’s reliance on oil revenues.
Speaking at the signing ceremony in Lagos, Sterling Bank’s Managing Director and CEO, Mr. Abubakar Suleiman, affirmed that the Bank is intentional about creating an ecosystem where non-oil exporters are well-informed and equipped to advance national interests.
“We are not just training people to understand how to export; we want to train them to be competitive exporters of non-oil products,” Suleiman said.
“Our goal is to build a community of knowledgeable, certified, and confident exporters who can collaborate to solve challenges beyond their immediate capacity. Our North Star is to reach a point where hundreds of people have completed this programme and are ready to compete on a global scale.”
Dr. Nneka Okekearu, Director of the Enterprise Development Centre (EDC), expressed enthusiasm for the collaboration. “Having spent the last twenty-three years deepening the competencies of entrepreneurs, we thoroughly understand what is needed and are excited to be part of this initiative,” she noted.
Dr. Okekearu emphasized that the export market has been neglected for too long. “With the right structure, standards, and mindset in place, entrepreneurs passing through this programme will help create not only a better Nigeria but more sustainable communities,” she added, noting that she looks forward to the case studies that will emerge from the programme’s participants.
Beyond sectoral outcomes, the initiative reinforces Sterling Bank’s commitment to support the development of human capital that positively shapes and impacts the wider economy. The Academy will run four cohorts within the year, commencing in 2026.
With this partnership, Sterling Bank and the Enterprise Development Centre are laying the foundation for a new generation of globally competitive Nigerian exporters, professionals equipped not only with knowledge, but with the certification, confidence, and networks needed to scale.
As both institutions align their expertise to strengthen non-oil export capacity, this collaboration signals a bold step toward a more resilient, inclusive, and diversified economy.
The Non-Oil Export Academy therefore serves as a catalyst for national transformation, empowering businesses and communities to unlock Nigeria’s full potential on the world stage.
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