NSE receives “Award for CSR in education”

The Nigerian Stock Exchange (NSE) is pleased to announce that it has received the 2018 award for “CSR in Education” from Lagos Chamber of Commerce & Industry (LCCI) on Tuesday, May 1, 2018, at the Oriental Hotel, Victoria Island, Lagos.

According to the Director of Advocacy & Research, LCCI, Dr. Vincent Nwani, “the objective of the annual awards is to recognise, celebrate and promote private and public institutions that have exhibited the core values of best business practices, growth through innovations, business sustainability and have positively impacted the society. This award is the outcome of a painstaking selection process from numerous entries received for this award category and backed by feedback from industry/market intelligence”.

Commenting on the award, Mr. Oscar N. Onyema, OON, Chief Executive Officer, NSE, expressed his appreciation for the recognition and noted that the Exchange is committed to promoting quality education as a tool for development. “Our education intervention through the donation of Maisandari Alamderi Model Nursery and Primary School in Borno State arose from our understanding that without urgent steps, the emergency the North East faces in terms of access to education will have serious implications for its future stability, and by inference that of Nigeria as well, with the human capital of upcoming generations being hugely compromised. We are committed to contributing our quota in ensuring that the children of the displaced families are able to continue with their basic education”.

NSE emerged the winner of this award in recognition of its education support for Internally Displaced Persons in Borno State. In 2017, in response to the insurgency in the North-East, which saw a huge number of people become displaced, thus affecting the ability of children to effectively continue with their education, the National Council of the Nigerian Stock Exchange approved an education intervention fund, to assist Internally Displaced Persons in Borno State with access to basic education. Through this education intervention initiative, NSE designed and financed the construction of blocks of classrooms, including the provision of furniture, fixtures, sanitary and potable water in the local community in Maiduguri. The school, named Maisandari Alamderi Model Nursery and Primary School, was commissioned by the Borno State Governor, Alhaji Kashim Shettima, in October 18, 2017 and started running in November 2017 and currently has 210 pupils of which 89 are girls. At full capacity, the school can accommodate 310 pupils.

Additionally, NSE will provide a yearly donation towards the running of the school over a three year period to ensure its sustainability. The school management is vested with the Bridge Academies, an international education development firm with primary focus on developing nations and Borno State Universal Basic Education Board (SUBEB).