A well-developed and efficient capital market is fundamental to the success of any International Financial Centre (IFC). It serves as the backbone for economic growth, attracting investments, enhancing liquidity, and fostering financial innovation. Recognizing this, EnterpriseNGR, in partnership with the Lagos State Government, convened a high-level engagement with the Chief Executive Officers of Nigeria’s licensed exchanges—Nigerian Exchange Group (NGX Group), FMDQ Group, Lagos Commodities and Futures Exchange (LCFE), AFEX, and NASD PLC. This strategic session, which was held this week, was hosted by His Excellency, the Governor of Lagos State, Mr. Babajide Sanwo-Olu, and provided a platform to discuss critical challenges affecting Nigeria’s financial markets, including regulatory inefficiencies, infrastructure gaps, and the need for greater technological integration The discussions, led by Mr. Aigboje Aig-Imoukhuede, Chairman of EnterpriseNGR and Co-Chair of the LIFC Council, and enriched by insights from PwC Nigeria, explored practical solutions to strengthen the financial ecosystem and position Lagos as a globally competitive IFC. EnterpriseNGR and the Lagos State Government extend their appreciation to all participants for their invaluable contributions. As work progresses, further strategic engagements will be convened with other key stakeholders in the Financial and Professional Services (FPS) sector to ensure a holistic approach to developing the Lagos International Financial Centre (LIFC). With the LIFC, Nigeria is not just participating in the global financial arena—it is setting the stage for Africa’s next financial powerhouse. The journey has begun, and the world would do well to pay attention.
Tag: EnterpriseNGR
Showcasing the Immense Potential of Nigeria’s Financial and Professional Services Sector at WAIFC AGM in Tokyo
Showcasing the Immense Potential of Nigeria’s Financial and Professional Services Sector at WAIFC AGM in Tokyo In line with our commitment to champion collective advocacy for the development of Nigeria’s Financial and Professional Services (FPS) sector, EnterpriseNGR‘s CEO, Obi Ibekwe, played prominent roles at the World Alliance of International Financial Centers (WAIFC) Annual General Meeting held last week in Tokyo, Japan. Obi, a WAIFC Board Member, delivered two impactful presentations highlighting Nigeria’s growing FPS landscape and the opportunities for investment in the country at adjoining events of the AGM. In her first presentation, titled “Unlocking Opportunities in Africa’s Most Populous Economy”, she highlighted key investment opportunities in Nigeria, promoting our agenda to position Nigeria as the premier financial services centre in Africa. Her second presentation titled “Art and Finance: The Nigerian Perspective”, showcased the intersection between Art and Finance and how Financial Institutions and government collaboratively support the growth of the creative sector in Nigeria. EnterpriseNGR is dedicated to leveraging international collaboration and innovation to promote Nigeria’s FPS sector. The Sector comprises Banking, Insurance, Capital Markets, Asset Management, Pensions, Non-interest Finance, FinTech, Professional Services (Legal Services, Accounting and Management Consulting), and Sustainable Finance. We remain dedicated to promoting Nigeria’s potential and leveraging strategic partnerships to enhance the FPS sector’s growth. We welcome more organisations to join us in this noble cause to unite the voice of the Sector.
EnterpriseNGR’s YOE Internship Programme Graduates Cohort III Impacting Over 2000 Young Nigerians, Emphasizes Digital Skills for Future Success
EnterpriseNGR’s Youth of Enterprise (YOE) Internship Programme, an initiative dedicated to tackling Nigeria’s persistent challenge of youth unemployment and underemployment, celebrated the graduation of its third cohort on Thursday, 10th October 2024, marking a significant milestone for over 120 young interns across Nigeria. These young people interned at reputable organizations like Coronation, Custodian, Investment One, Polaris Bank, Saroafrica International Ltd, PwC, Nigeria Exchange Group, Access Bank, among others. With the theme “Digital Dreams: Forging Successful Careers in a Connected World,” the event highlighted the critical role of digital skills and forward-thinking mindsets in the modern workforce. Moderated by SACO, renowned Master of Ceremony and Managing Director of Saco Events Limited, the ceremony featured insightful discussions, reflections on the YOE programme’s impact, and motivational words for the graduates. In her opening remarks, Obi Ibekwe, CEO of EnterpriseNGR, commended the graduates for their dedication throughout the programme and encouraged them to embrace the lessons they have learned. “Your journey through YOE has equipped you with skills and knowledge that are essential in today’s ever-evolving landscape. Now, it’s time to apply them with courage and determination as you build your careers,” Ibekwe said. Delivering the keynote speech on “Thriving in the Digital Age: Skills and Mindsets for the Future,” Pai Gamde, Chief Talent Officer at Coronation Group, urged the interns to adopt a future-oriented approach. “The digital age is about agility, creativity, and continuous learning. As you move forward, embrace challenges and view them as opportunities to innovate and grow,” she advised, emphasizing the importance of adaptability in a rapidly changing world. Joy Abara, Head of Programmes at EnterpriseNGR, echoed this sentiment as she encouraged the graduates to maintain the YOE spirit. “Continue to fly the YOE flag high in your future endeavors. The skills, network, and experiences you have gained here will serve as a foundation for your professional growth,” she remarked. Announcing the top three performing groups and the overall best intern in Cohort III of the YOE Programme, Ms. Abara commended the winners for their outstanding performance noting that each member of the top three teams and the overall best intern would be rewarded with cash gifts and certificates of merit. The graduation ceremony concluded with a vote of thanks from Zahra Yunusa, YOE Administrator, who praised the graduates and wished them continued success as they embark on their next chapters. EnterpriseNGR remains committed to empowering young Nigerians through the YOE Internship Programme, equipping them with the tools needed to succeed in today’s dynamic job market. Organisations and Business Executives who would like to partner with YOE to shape tomorrow’s leaders can contact YOE at yoe@enterprisengr.com. CONNECT WITH YOE ACROSS SOCIAL MEDIA: Follow YOE across our social media platforms below to stay up to date with our community: Instagram: @youthofenterprise X (Twitter): @YOENigeria Facebook: https://www.facebook.com/YouthofEnterprise Click here to read what renowned HR Expert, Yemi Faseun, says about Empowering Nigeria’s Young Talent for Business Growth.
YOE Alumni Spotlight: How Michael Gained Career Clarity from His YOE Internship at Polaris Bank
Meet Michael Ekaba! During his YOE internship he worked with Polaris Bank. Micheal’s professional journey began in 2023 after his friend introduced him to the YOE Internship Programme. They both applied to YOE Cohort II, however, only Michael’s friend made it to the programme. Determined, Michael gave the application a second attempt and got into the programme by Cohort III. We asked Michael about his YOE experience, and he had this to say. “After two application attempts and the intensive selection process, I felt optimistic about the opportunity ahead of me when I got my admission letter into the programme. I participated in a three-week virtual orientation session that prepared me for what was ahead, and in November 2023, I was matched with Polaris Bank—a significant step in my career journey.” What challenges did you face during the programme and how did it impact your growth? Adjusting to a new professional environment, especially in the banking sector, came with its challenges. The dynamics of teamwork and the specifics of my responsibilities were learning curves for me. However, this transition ultimately improved my adaptability, communication skills, and resilience within the industry. The experience I gained has enhanced my professional competencies and contributed to my personal growth. What role has the YOE programme played in your professional success and accomplishments? One of the most rewarding aspects of this internship has been the development of my skills. I have been able to build valuable experience for my resume, which has helped to clarify my career goals and boost my confidence as I navigate my professional path. I also learnt how to balance my internship responsibilities with personal activities, which has improved my time management skill. This skill has proven to be beneficial in both my personal life and professional endeavors, allowing me to maximize productivity and maintain a healthy work-life balance. What level of mentorship and support did you receive from colleagues and leaders in your organisation? I received a high level of career guidance, which played a crucial role in my development during my internship period. I also received invaluable mentorship from my supervisor and colleagues at Polaris Bank, who offered support and shared insights as I navigated the intricacies of the banking industry. Their guidance helped shape my understanding and adaptability. What word of advice do you have for applicants and current interns? My advice to applicants and current interns in the YOE internship programme is to actively embrace the opportunities and the occasions for skill development provided through this platform. Be optimistic and willing to grow and evolve with the trends of any industry you find yourself. My journey from NYSC to Polaris Bank has been filled with growth, learning, and invaluable experiences that I will carry forward in my career. I’m excited about what the future holds and look forward to continuing to build on this foundation. Thank you, YOE, for this journey! Follow us across social media using the links below and stay up to date with our community: Instagram: @youthofenterprise X (Twitter): @YOENigeria Facebook: https://www.facebook.com/YouthofEnterprise Read other Alumni stories HERE.
Lessons from YOE’s Community Webinar on Financial Literacy with Adaora Obikili
Lessons from YOE’s Community Webinar on Financial Literacy with Adaora Obikili Building wealth is a journey that requires a combination of smart financial habits, strategic investments, and long-term planning. Whether you’re just starting or looking to optimize your existing financial strategy, here are some highlights from YOE’s August community webinar that can help you scale up your financial goals. Let’s dive in! Set Clear Financial Goals Start by defining your financial aspirations. Establishing both short-term and long-term goals provides a roadmap for your financial decisions. Create a Budget Understanding your income and expenses is crucial. Create a friendly budget to help you track your spending habits so that you can allocate funds effectively for savings and investments. Regular reviews of your budget can keep you on track towards your goals. Establish an Emergency Fund Life is unpredictable, so having an emergency fund is essential. Aim to save 3-6 months’ worth of living expenses to cover unexpected costs without derailing your financial plans. Pay Off Debt Debt can impede your wealth-building efforts. Prioritize paying off high-interest debt to free up more money that you can channel into savings and investments. Save Consistently Aim to save a percentage of your income regularly. Here, you can deploy the 50-30-20 rule. This simply means that 50% of your earnings should cover your basic needs such as transportation, feeding and accommodation. 30% of your earnings should be for your wants and the “soft life” treat! While the remaining 20% should be diverted into savings/investment. However, this is not a standard but could be a guideline for keeping your finances in check. Invest Wisely Investing is key to growing your wealth. To minimize risk, diversify your investments across multiple asset types. As the saying goes, don’t put all your eggs in one basket’. This strategy can help protect your wealth during market fluctuations. Investment platforms such as InvestNaija, Cowrywise, PiggyVest, among others, can be a good start for your investment journey. Educate Yourself Continuous learning is vital in personal finance. Stay informed about investment strategies and financial management by reading books, attending courses, and participating in seminars such as YOE’s monthly community webinar can help broaden your knowledge horizon. Monitor and Adjust Regularly review your financial plan and investment portfolio. Adjust your strategy as needed based on performance and any changes in your goals or circumstances. Be Patient and Persistent Remember, building wealth is a long-term commitment that requires discipline and patience. Stay focused on your goals and remain persistent even when faced with challenges. Stay committed to your journey, and with time, you will look back and be glad you did!! Watch out for updates from our next webinar. Follow YOE across our social media platforms below to stay up to date with our community: Instagram: @youthofenterprise X (Twitter): @YOENigeria Facebook: https://www.facebook.com/YouthofEnterprise Learn more about the YOE internship experience from Joy, Daniel, and Amina.
How EnterpriseNGR, Lagos State Government Shined Bright at Lord Mayor’s Show
In a striking display of collaboration and economic prowess, EnterpriseNGR and the Lagos State Government recently took centre stage at the prestigious Lord Mayor’s Show in the heart of London. This event not only showcased the vibrant culture and economic potential of Lagos but also laid the groundwork for a promising future in the relationship between Lagos State, Nigeria, and the United Kingdom. The joint delegation, participating in the parade for the first time, made a powerful statement about Lagos’ ambitions to grow its economy and development thought private-public partnerships with the succinct and clear message that “Lagos is Open for Business”. Cultural Extravaganza Meets Economic Brilliance: Making an unforgettable moment, was the float which represented the state, the representation of the recently commissioned Blue Line rail flanked by the ever-present Keke Marwa and the Eyo masquerades seamlessly highlighted not only the cultural richness of Lagos but also underscored the state’s economic significance. The vibrant display of the State’s heritage, business acumen, and innovation captured the attention of a global audience, creating a positive image for both EnterpriseNGR and Lagos State. Strengthening Bilateral Ties: The participation of EnterpriseNGR and the Lagos State Government in the Lord Mayor’s Show signifies a deepening of ties between the UK and Nigeria. As the two entities collaborated seamlessly on the international stage, it sends a positive message to businesses and investors about the stability and attractiveness of Nigeria’s economic landscape. This strengthened relationship lays the groundwork for more extensive bilateral cooperation and trade agreements between the two nations. The Nigerian delegation also met with trade officials, investors, and the Lord Mayor of London. Discussions spanned cooperation in technology, creative industries, healthcare, real estate, and green financing. Governor Sanwo-Olu invited UK firms to explore investment opportunities across the State. Foreign Investments and Business Opportunities: The positive outcomes from the Lord Mayor’s Show are not limited to domestic economic growth. Foreign investors are now eyeing Lagos State and Nigeria as promising investment destinations. With increased visibility and confidence in the Nigerian market, the stage is set for a surge in foreign direct investment (FDI). With Nigeria being the largest economy and the most populous nation in Africa, deepening trade and investment ties with the UK will be mutually beneficial. Total trade in goods and services (exports plus imports) between the UK and Nigeria was £6.9 billion in the four quarters to the end of Q2 2023, an increase of 18.5% or £1.1 billion in current prices from the four quarters to the end of Q2 2022. However, the UK is only the fourth largest source of foreign direct investment into Nigeria. The show served as a platform for EnterpriseNGR to pitch Nigeria as an ideal investment location, showcasing its strategic position in West Africa and its role as an economic powerhouse. A Bright Future for Lagos’ Economic Landscape: The success at the Lord Mayor’s Show and Parade opens a wealth of opportunities for Lagos State and Nigeria. As the relationship with the UK deepens, sectors such as technology, finance, and renewable energy are poised for substantial growth. The positive momentum generated by this event has positioned Lagos State as the epicentre for innovation and economic advancement, making it an attractive prospect for foreign investors seeking a strong foothold in Africa. The participation of EnterpriseNGR and the Lagos State Government in the Lord Mayor’s Show marks a turning point in the economic narrative of Nigeria. As the positive momentum continues, Lagos State and Nigeria are well-positioned to harness the opportunities that lie ahead, making strides toward a more prosperous and interconnected global future.