Managing Director, FMDQ Securities Exchange Limited,Tumi Sekoni, with the top 3 finalists of the stream 2 Secondary School Trading Challenge of the FMDQ-Next 2022 Summer Camp Programme, in Lagos recently
In furtherance of its commitment to fostering financial literacy in the younger generation, FMDQ Group PLC (“FMDQ Group”), through its flagship corporate responsibility programme, FMDQ Next Generation Financial Markets Empowerment Programme (FMDQ-Next) – a learning and development initiative aimed at promoting financial market awareness and literacy among students across all levels (primary, secondary, and tertiary), as well as fresh graduates – successfully organised the 3rd edition of its FMDQ-Next Summer Camp Programme (“the Programme”) at its business complex, Exchange Place, in Lagos.
The free and highly coveted Summer Camp Programme, designed for Primary School (ages 8–10) and Secondary School (ages 11–16) students, was delivered in four Streams, on August 3 – 26, 2022. The Programme provided fun and exciting learning experiences, through interactive financial market exercises and activities, offering the young participants the opportunity to learn about the workings of financial markets, the concept of savings and investment, the various investment vehicles, and the roles of the different financial market participants, amongst other valuable learnings. Surpassing expectations, the Programme positively impacted 130 students, who were prestigiously catered for in FMDQ’s well-equipped business complex, with access to the FMDQ world-class Archives, the FMDQ Studio, and trading sessions through the FMDQ market systems. The participants were also exposed to FMDQ’s workplace, with quality interactions with the Chief Executive Officer, Senior Executives and Staff of FMDQ.
Whilst the Primary and Secondary School participants enjoyed a range of activities, including quizzes and competitions, trade by barter activities to introduce them to the concept of demand and supply, arts and crafts session to foster creativity, amongst others, earning them fantastic prizes, the Secondary School participants were given the added opportunity to learn how to trade currencies, culminating in a Trading Challenge in a simulated environment in FMDQ Q-Hub (a state-of-the-art Trading Simulation Room), using the FMDQ-Next bespoke Trading System.
In addition to enjoying the practical trading experience, which saw the participants manage virtual portfolios with the goal of making profit and growing the portfolios, the top three (3) finalists of both Streams in the Trading Challenge were awarded exciting prizes, such as laptops and tablets, as well as internship opportunities at FMDQ Group. Beyond promoting financial markets education, the Programme also provided an avenue for participants to showcase their exceptional talents in music, drama, and arts, through Talent Shows, with attendant prizes for the performers.
As an internationally recognised Programme which attracted the presence of the erstwhile Prime Minister of the United Kingdom, Theresa May, at its maiden edition in 2018 at FMDQ’s business complex; as well as the Governor of the Central Bank of Nigeria, Godwin Emefiele; the Executive Governor of Lagos State, Babajide O. Sanwo-Olu; business moguls, including Aliko Dangote and Femi Otedola, amongst others, the 2022 Programme participants were visited by a delegation from Standard Bank Group, South Africa, who shared inspiring nuggets of wisdom on the financial markets.
In the same vein, the Chief Executive Officer, Stanbic IBTC Bank PLC, Wole Adeniyi, also visited the Programme participants and awarded cash gifts to the top three Primary School finalists, with attendant savings accounts opened for them, and internship opportunities with Stanbic IBTC Bank PLC, in addition to the internships offered by FMDQ Group, to the top three finalists of the Secondary School Trading Challenge in both Streams.
Touting the benefits of the Programme, parents/guardians and participants alike have been replete with applause for the 2022 edition of the Programme. Speaking on the Programmme, Nzenwanyi Ndukwe, a parent who enrolled three children, stated ‘I was excited to enroll my kids because I want them to be equipped and ahead of their peers, and programmes like this are perfect to get them to the right place in a fast-changing world. My kids have learnt so much about the financial markets and I appreciate FMDQ-Next for this opportunity”.
Also speaking on the Programme, Ebineme Ebitonmor, a student of Chrisland School and a Secondary School participant, said “I have learnt about how Exchanges work and how small companies who cannot raise funds via an Exchange can raise money through the private markets. I am really excited to have participated in this Programme as it equips the future generation to learn about the local and global financial markets”.
Since FMDQ-Next launched in July 2018, over 862 participants, from primary students, through to fresh graduates, have been positively impacted through three Summer Camps; five Excursions; eight Virtual Financial Literacy Sessions; 12 Trading Challenges; and eight Internships with FMDQ Group.
The FMDQ-Next initiative is an expression of FMDQ Group’s ongoing commitment to continually implement innovative initiatives that ensure a sustainable financial future for the next generation, and we look ahead with great anticipation to the 2023 edition of the FMDQ-Next Summer Camp Programme amidst resounding positive feedback from this edition.