Covenant University beats UNILAG, OAU, others in CFA Institute Research competition

Covenant University wins CFA Institute Research competition sponsored by Zenith Bank

Covenant University has emerged the first place winner in Nigeria’s stage of global CFA Institute Research competition.

The Ota, Ogun State-based university beat the University of Lagos and Obafemi Awolowo University which emerged second and third place winners respectively in the competition held in Lagos on Saturday.

Eight universities took part in the competition.

Covenant University will consequently represent Nigeria at the Regional CFA competition in Dublin, Ireland, on April 4 and April 5.

The News Agency of Nigeria (NAN) reports that the CFA competition in Nigeria is sponsored by Zenith International Bank in partnership with CFA Society in Nigeria.

The CFA Institute Research Challenge is the world most prestigious investment research competition among university students globally.

It is aimed at promoting best practices in equity research among the next generation of analysts.

The competition promotes ethics and best practices in investment research through hands-on mentoring and presentation.

Speaking at the final of the competition, Chairman of Zenith Bank, Jim Ovia, said the bank had always anchored its Corporate Social Responsibility (CSR) towards empowerment, development, building skills, talent and capabilities among the youths.

Mr Ovia said that the bank aligned with CFA Research Challenge’s overall objective of providing a platform for university students to put into practice their theoretical knowledge.

“It is a way of encouraging the professionals to inculcate the spirit of professionalism and ethics right from the very early stage.

“We believe that something will be required so that we can deepen the pool of talents we have that will take care of corporate organisations tomorrow.

“I find the Institute Research Challenge axiom ‘promoting best practices in equity research among the next generation of analysts’ quite intriguing.

“It clearly highlights succinctly what and who we are here for; the next generation of financial analysts,” he said.

Ovia, who was represented by Deputy Managing Director of Zenith Bank, Ebenezer Onyeagwu, commended the eight universities that made it to the last stage of the competition.

“You have proven to be fearless by coming together in your various universities to put together pioneering teams for a tasking competition as the CFA Institute Research Challenge.

“There are so many of your colleagues out there that wouldn’t want the extra burden or work, but you all opted to take this on,” he added.

President, CFA Society Nigeria, Banji Fehintola, said the society was approved in 2012 as the 137th Society of CFA Institute.

Mr Fehintola said that the society was one of five societies in Africa registered in Nigeria as an incorporated Trustee in February 2013.

He said that the purpose of the research challenge among the university undergraduates of different universities was to introduce students to the practical side of investment analysis.

Fehintola said the society currently had about 230 members.

The eight universities that competed were Ahmadu Bello University, Babcock University, Covenant University and Obafemi Awolowo University.

Others were Lagos Business School, University of Abuja, University of Ibadan and University of Lagos.