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NGX, Partners Increase Clamour for Financial Literacy for Youth

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NGX: Transactions maintain bearish trend with 0.0% loss

 

The Nigerian Exchange Limited (NGX) has latched on the 2023 edition of Global Money Week (GMW) to rally partners to sustain efforts on the clamour for inculcating a culture of saving and investing in young Nigerians.

To this end, there was a ceremony on Tuesday, at the Exchange to raise awareness on the importance of ensuring that young people, imbibe financial awareness by are gradually acquiring the knowledge, skills, attitudes and behaviours necessary to make sound financial decisions and ultimately achieve financial well-being and financial resilience.

The event was a collaboration between the NGX, Securities and Exchange Commission (SEC) and NGX Regulation Limited (NGX RegCo) in partnership with the Central Bank of Nigeria (CBN).

The objective, Biztellers reports, was to educate over 100 students on the theme, “Plan your money, plant your future”, to further enhance investor education and financial literacy.

Divisional Head, Capital Markets, NGX, Chiemeka harped on the need to guide children in their formative years so as to be responsible citizens in the future.

He emphasized that choices they make today will have a significant impact on their future.

In his words, “We must also recognize that our individual financial health is closely linked to the health of the planet and of society as a whole. The choices we make about how we earn, spend, save, and invest our money can either contribute to or undermine the sustainability of our world.

“As such, it’s essential that we all adopt a responsible and informed approach to financial decision-making that considers the impact of our choices on our environment and society.”

On other NGX-led financial literacy initiatives, Chiemeka noted that beyond offering a range of educational resources, the Exchange has a comic book series named NGX StockTown with the goal of using illustrations to raise the next generation leaders who are financially aware, responsible and skilled economic citizens.

The celebration which culminated in a Closing Gong ceremony had the overall winners at the quiz session held at the Exchange close the market by sounding the gong.

They were also gifted shares with the firstprize winner receiving N80,000 worth of shares while the first and second runner ups won N70,000 and N50,000 worth of shares respectively.

Principal Manager, Market Development Department, SEC, John Achile and Principal Manager, Head of Advocacy Office, Consumer Education and Evaluation Division of Consumer Protection, CBN, Abubakar Albasu, highlighted the importance of market regulation and investors protection.

Head, Market Surveillance and Investigation, NGX RegCo, Abimbola Babalola, delivered a presentation on the rudiments of money and the technicalities of the capital market.

Sales Trader, Meristem Stockbrokers, Abdulkareem Kelani, and Head, Securities Dealing, APT Securities, Mohammed Jamie, also contributed to improving the students’ knowledge capacity about the stock market.

Other partners at this event were MinieMoney, AIESEC Lagos and Junior Achievement Nigeria (JAN).

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Brands

Family Fun Unleashed: Indomie Love Bowl Premiering This Month

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The premiere of the “Indomie Love Bowl,” a family game show sponsored by Indomie in collaboration with Multichoice, is scheduled for October 22, 2023.

 

The 13-episode series will showcase three families per episode, competing for the coveted title and attractive prizes.

 

The victorious family in the reality show stands to gain significant rewards, with the first-place winners earning an impressive 5 million Naira.

 

The second and third-place families will receive 2.5 million Naira and 1.5 million Naira, respectively. Beyond the cash prizes, the winning families will relish a two-year abundance of Indomie products, renowned for their delightful flavor and quality.

 

Asiwaju Temitope, Head of Corporate Communications for Indomie, emphasized the brand’s deep connection with love and excitement in the food category as the driving force behind the show.

 

The primary goal of the show is to elevate values such as love within families, particularly emphasizing the special bonds between mothers and children.

 

The collaboration with Multichoice was a strategic move, leveraging its broad outreach and the widespread accessibility of DSTV in numerous households. This ensures the game show’s broad and impactful reach.

 

“We created this games show and we chose this with family represented by mums and children. It’s going to involve several families and winners willl emerge based on the programmes. 3 families will emerge as winners with consolatory prizes. We chose Multichoice because it is a big reach and there’s no home where you won’t find DSTV”.

 

Busola Tejumola, Executive Head of Content and West Africa Channels at Multichoice West Africa, underscored that the “Indomie Love Bowl” revolves around themes of unity, bonding, and the special affection between mothers and children.

 

Set to debut on October 22, 2023, at 7 pm on the Africa Magic Family channel, the show aims to deliver thrilling moments and dynamic interactions among family members.

Stephanie Coker, the show’s host and On-Air personality, expressed her joy in being involved in the project, particularly as a mother. She eagerly anticipated watching the show with her daughter, celebrating the special bond between mothers and children, the exciting games, and the evident team spirit. Coker also emphasized the chemistry with her co-host, Darasimi, promising an engaging experience for the audience.

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BUA Takes Bold Step: Slashes Price Of Cement

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BUA Cement PLC has declared a cut in the price of its cement product to N3,500 per bag, effective from Monday, October 2, 2023.

 

. The company cites its dedication to fostering growth in the building materials and infrastructural sectors as the reason behind this reduction.

 

The announcement was made through a statement posted on its X page, previously known as Twitter.

 

This decision follows the chairman, Abdul Samad Rabiu’s commitment to reviewing the product’s price after a meeting with President Bola Tinubu weeks ago.

 

The statement read in part, “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

 

“As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward.

 

“As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

 

“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”

 

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Brands

Again, Dangote Clinches ‘Brand of the Year’ Award

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Dangote Industries Limited has received the prestigious Brand of the Year award, acknowledging the company’s outstanding corporate performance in the past year.

 

At a ceremony held in Lagos, John Ajayi, the Publisher of Marketing Edge, clarified that the award conferred upon Dangote is the flagship recognition, highlighting the company’s consistent contributions to the economic advancement of Nigeria and Africa.

 

Mr. Ajayi emphasized that this recognition encompasses a broad spectrum of business investments and corporate initiatives carried out by Dangote across the African continent.

 

He noted “This recognition covers many business investments and corporate interventions carried out by the company in Africa as a continent.”

 

During the award presentation, he credited Dangote’s exceptional position in its industry to its robust efforts in generating employment opportunities, thereby positively impacting numerous youths.

 

Additionally, he praised Dangote Industries for its steadfast dedication to the development of vital infrastructure.

 

He highlighted that the award presentation marked a significant milestone during Marketing Edge’s 20th-anniversary celebration and the 11th edition of its annual Brands and Advertising Excellence Award.

 

Numerous other brands were also honored for their exceptional achievements in the market.

 

Mr. Ajayi underscored that Marketing Edge’s two-decade presence in the industry has firmly established it as a trustworthy and authoritative partner for all stakeholders in the Nigerian marketing and advertising landscape.

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