Connect with us

Education

Nexford University, Sterling Bank Partner to Benefit Students, Corporates

Published

on

Nexford University - Investors King

Nexford University, a Washington D.C. based, next-generation online university – announces a major new partnership with Sterling Bank, one of Nigeria’s largest commercial banks.

The Sterling Bank and Nexford program is called ‘Fund Your Future’ and is part of Nexford’s wider ‘Learn to Earn’ project for emerging markets. It is designed to solve three major challenges:

  • Enabling employers to find qualified entry-level talent;

In the World Economic Forum’s index, Nigeria scored 44% on human capital development (measured by skills acquisition) trailing the Sub-Saharan African average of 55%

Nigerian employers faced the most difficulties in filling managerial, professional and technical jobs due to a lack of skilled applicants

  • Helping students with affordable access to university

50% of Nigeria’s high school graduates fail to gain admission to local universities and other institutions of learning;

  • Giving students skills they need to actually get jobs

Employers across emerging markets struggle to find qualified entry-level talent, and are forced to invest in expensive and time-consuming training. Paradoxically, despite high emerging market unemployment levels, employers still struggle to find this qualified talent. In a McKinsey survey of young people and employers in nine countries, including major developing countries, 40% of employers noted a lack of skills was the main reason for entry-level job vacancies. 60% said new graduates were not adequately prepared for the world of work.

For Sterling Bank, the benefits are multiple. First is access to student talent – which has been given an education – by Nexford – specifically tailored to their corporate needs. This saves Sterling money on current early-stage training to upskill graduates to the required level. Nexford’s competency-based curriculum also provides Sterling with multiple data points to evaluate applicants’ qualifications, thus saving time on filtering large numbers of applications and the wider recruitment process.

For students, Sterling Bank is playing two roles; it will underwrite loans to fund their tuition fees with Nexford. This will protect students against Naira foreign exchange fluctuations. These fluctuations, plus US dollar restrictions, make budgeting for degree costs difficult.  Sterling will put students back in control of their finances. Secondly, Sterling Bank is providing students with partial scholarships and internships during students’ studies, plus post-graduation job opportunities.

The wider context is, in markets such as the US, employer-funded education has grown significantly, with $82.5 billion spent on upskilling there in 2020. In 2020, the World Economic Forum also stated that 1 billion workers will need to be reskilled by 2030. While the need for upskilling globally is significant, young populations means emerging markets face significant shortages of qualified entry-level talent.

The ‘Nexford for Business’ program which launched in 2020 focuses on reskilling and upskilling employees. Large employers such as Dangote Cement in Nigeria, Indosat in Indonesia, and Hassan Allam Holding in Egypt are employers who have already partnered with Nexford to upskill their employees.

In each market, Nexford will partner with a different organization to fund, and several organizations on the employment side. Employers will identify the skills they need, and Nexford will identify the programs to deliver those skills. When learners complete the programs, they will have a far greater chance of gaining employment opportunities.

Nexford University’s CEO, Fadl Al Tarzi, said:

“Our partnership with Sterling Bank is a perfect example of how Nexford is helping bridge gaps between employers and higher education. We are committed to making access to qualified talent far easier for employers, while making education more accessible and relevant for learners. We are delighted to partner with an institution privileged to have such forward thinking leadership, the Sterling Bank partnership kicks off our global roll-out. This is a perfect match and surely the first of many such partnerships.”

Mr. Obinna Ukachukwu, Divisional Head, Health and Education sectors with Sterling Bank, commented:

“The programme is designed to solve three major challenges of enabling employers to find qualified entry level talent, helping students with affordable access to university and giving students the skills they need to actually get jobs.”

“In the World Economic Forum’s index, Nigeria scored 44 percent on human capital development when measured by skills acquisition, trailing the sub-Saharan African average of 55 percent by 11 percent. Also, Nigerian employers face the most difficulties in filling managerial, professional and technical jobs due to lack of skilled applicants.”

Launched in 2019, Nexford’s leverages machine learning and Artificial Intelligence to create a data and skills-driven curriculum, specifically designed to match employers’ needs with its graduates’ skills. It has learners enrolled from over 65 countries, and has partnerships with Microsoft, LinkedIn Learning and IBM to provide access to tools, courses and programmes to enrich the learning experience.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Education

NYSC Trust Fund Bill Passes 2nd Reading

Published

on

A bill sponsored by Hon. Akinfolarin Mayowa for an act to establish a trust fund for National Youth Service Corps (NYSC) has passed the second reading stage in the House of Representatives.

Mayowa, the representative of Ileoluji-Okeigbo/Odigbo federal constituency, on Thursday at the plenary, stated that the bill seeks to provide a sustainable source of funds for Corp members.

The National Youth Service Corps Trust Fund (NYSCTF) aims at equipping corps members with skills acquisition, training and empowerment. Training and retraining of NYSC staff is inclusive

The bill sponsor mentioned that the funds would also be used for the development of NYSC camps and maintenance of its facilities.

He added that it would have a long-lasting impact on job creation and the empowerment of youths.

Hon. Mayowa stated that the NYSCTF Bill would further complement the purpose of the scheme and enhance entrepreneurship among corps members.

He said, “in the early years of the establishment of NYSC, the scheme was able to carry out its objectives under the National Youth Service Corps Act.

“The management of the scheme had not only trained, equipped and empowered corps members enrolled under the scheme, but had instilled patriotism and the spirit of nationalism in corps members.

“My colleagues and I have sincerely considered the significant role this NYSCTF Bill will play if passed by this honourable house and assented to by President Muhammadu Buhari.

“Corps members and supporting staff will be trained and introduced to various skills which will make them establish a self-sustained business after the mandatory service year.”

Calling for its reading to continue and moved to the relevant committee of the house for further legislative actions, Mayowa pointed that the bill will reduce the adverse effect of COVID-19 on the nation’s economy and create employment opportunities for the youths.

“The call had become imperative in view of the effort currently being made by the government to diversify the economy, and considering the passion and willingness of the house in reducing poverty,” he said

In turn, the Speaker, House of Representatives, Hon. Femi Gbajabiamila, referred the bill to the relevant committees of the house for further legislative actions following the consent of the house.

Continue Reading

Education

Nigeria Launches e-Learning Platform to Combat Education Challenges

Published

on

The Federal Government of Nigeria has commenced plans to improve the educational standard in the country, which will promote open education and provide certified access to high quality of education across all levels. In view of this, the Federal Government has decided to launch a new e-learning programme to aid the plan.

The Nigerian Minister of Education, Malam Adamu Adamu launched the new e-learning platform in Abuja, saying that it would help the country in combating the problem of children who are currently out of school, and also help to bolster the delivery of education for all people through the use of technology.

Since the initial stage of the pandemic, schools across primary, secondary and tertiary levels have started to make use of online methods to deliver their lessons. This has seen platforms like Zoom, WhatsApp, Telegram, Google Classroom, Google Meet, etc. take the stage as the leading learning platforms.

The new e-learning platform will not be making use of an app, but will instead be done through the web. He said that about two million people will be able to use the platform at the same time. In terms of execution, Adamu – who was represented by the Permanent Secretary, Sonny Echono – said that those who have direct access to the internet will obviously be able to access all the materials provided. However, these learning materials will also be made available on other channels like radio and television, among others. He said that this is to consider potential learners living in rural areas.

According to Adamu, the Federal Government is not turning a blind eye to the growing need for an improvement in technologies and innovation, in order to improve digital skills and create new job opportunities for youths in this increasingly digitalised world.

Adamu referred to the COVID-19 pandemic and cited how the educational sector had to undergo a revamp concerning teaching and learning methods, calling it a new normal. This made the Federal Government develop a new COVID-19 education strategy.

Adamu stated that the country turned to the internet and technology so that those who would benefit from it would be able to access the learning materials at any place, and at any time.

 

 

Continue Reading

Education

Atlantic Hall Alumni Holds Association First Induction and Hand Over Ceremony

Published

on

The Atlantic Hall Alumni association held its first-ever induction and handover ceremony on the 6th of November 2021. The Saturday night event was hosted in the Seattle Residences and Spa Victoria Island with plenty of champagne and hors d’oeuvres for all who attended at the Seattle Residences and Spa Victoria Island.

The evening started with the farewell speech of the outgoing president and first-ever head boy of Atlantic Hall Ayomide Smith. He gave accounts of his stewardship, reeling out various projects executed with the support of his excos. This was followed by a speech from Elizabeth Okogun who spoke about the journey of the Alumni association from its inception to the present day.

Part of the highlights of the evening’s activities was the presentation of awards to outstanding Alumni members and members of the outgoing excos in recognition of their dedication towards the growth of the Atlantic Hall Alumni association. Shortly afterwards, the President of the Atlantic Hall Alumni Association Terfa Tilley- Gyado gave his speech where he charged members of the Atlantic Hall alumni to invest in their relationships, both professional and personal which he hopes will turn the association into a place where members can share ideas, discuss opportunities, and create a network to manifest their full potentials.

The Oath taking and induction of new exco members and appointees was conducted by Barrister Isioma Idigbe-Agba. The new inductees took an oath to serve the association and to uphold the charter of the Atlantic Hall Alumni Association and the values of Atlantic Hall through excellence and integrity.

The induction and handover ceremony created a wonderful environment for all the alumni and an opportunity to engage in quality networking in a convivial atmosphere where old school shared fond memories of their days in Atlantic Hall.

The Atlantic Hall Alumni is a constellation of stars wonderfully spread across Nigeria and the world. It is a community of like-minded individuals ready to contribute their quota to the development of Nigeria.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending