Lagos – The Nigerian Stock Exchange (NSE) yesterday donated a school to the Borno State Government as part of its Corporate Social Responsibility (CSR) programme, to help Internally Displaced Persons (IDPs).
The school, Maisandari Alamderi Model Nursery and Primary School, located in the Abuja Talakawa District of Maiduguri, comprises two blocks of nine classrooms that will accommodate 330 students and an administrative block, housing the staff room, sick bay, security room and restrooms.
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The NSE undertook the project in support of the recovery effort articulated in the Recovery and Peace Building Assessment (RPBA) Report for North-East Nigeria, by the Federal Government of Nigeria, North-East State Government, the European Union (EU), the United Nations (UN) and the World Bank (WB) which highlights education as one of the strategic areas requiring urgent attention.
Meanwhile, the Nigerian Bourse, yesterday extended losses to the second consecutive session as the All Share Index moderated 8bps to close at 36,641.52 points while year-to-date (YTD) return weakened to 36.3 per cent.
Also, market capitalisation declined by N9.7bn to settle at N12.6 trillion on the back of pull-backs in Tier-1 – Access Bank (-2.2%), United Bank for Africa (-1.5%) and Zenith Bank (-0.5%).
Activity level softened as volume and value traded fell 6.0 per cent and 0.4 per cent to settle at 198.6 million units and N2.9 billion respectively.
Speaking at the commissioning ceremony held in Maiduguri, Borno State, Mr. Oscar Onyema, Chief Executive Officer, NSE, noted that the Exchange is committed to providing quality education and improving the financial literacy of the communities it serves.
“Education is one of the key foundational elements to building a peaceful and sustainable society. The donation of the Maisandari Alamderi Model Nursery and Primary School aligns with commitment to providing an inclusive, safe and positive teaching and learning environment, and we are pleased that this gift will support the educational system in the state to mold the next generation of leaders”.
The school will be managed by Bridge International Academies, a renowned global educational firm that specialises in providing robust technology driven education system to low income households in developing economies. Other partners for the school intervention programme are Central Securities Clearing System (CSCS) Plc, Oando Foundation, AXAMansard Insurance Plc and MTN Foundation.
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