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First Bank of Nigeria has reaffirmed its commitment to youth development and education by sponsoring the second edition of the ChessMasters school tournament, a growing initiative designed to nurture intellectual skills among young pupils.
The announcement was made during a press conference held at Eko Hotels and Suites, where organisers and key stakeholders highlighted the importance of early cognitive development through structured competitions like chess.
ChessMasters is an annual tournament targeted at primary school pupils between the ages of six and 11. The competition is organised by Eko Hotels and KEY Academy, with a clear focus on bringing together schools across Lagos State to promote critical thinking, concentration and problem-solving abilities in children.
Over time, the tournament has gained attention for its role in combining education with healthy competition, making it a standout initiative within the academic and extracurricular space.
Speaking at the event, Olayinka Ijabiyi, acting group head of marketing and corporate communications at FirstBank, explained that the bank’s involvement is part of its broader commitment to community engagement through its First@Sports platform.
According to him, the sponsorship reflects the bank’s dedication to fostering talent and creating opportunities for young Nigerians to thrive intellectually and socially.
Ijabiyi stressed that chess is more than just a game, noting that it plays a significant role in shaping how children think, make decisions and approach challenges.
He added that supporting initiatives like ChessMasters aligns with the bank’s core focus areas, which include education, health and social welfare.
By investing in such programmes, FirstBank aims to contribute meaningfully to the long-term development of children and the communities they belong to.
Also speaking at the press conference, Caline Chagoury Moudabar, co-founder of ChessMasters, alongside her partner Damilola Okonkwo of KEY Academy, expressed optimism about the partnership with FirstBank.
They noted that the support from a major financial institution would not only strengthen the tournament’s structure but also encourage wider participation among schools.
According to them, the collaboration is expected to expand the reach of the competition and improve the overall experience for participants.
The initiative has also received backing from the Nigeria Chess Federation. Its vice president, Adeyinka Adewole, emphasised the importance of chess in developing essential life skills among children.
He pointed out that the game teaches discipline, patience, time management and strategic thinking qualities that are valuable both in academics and everyday life.
The second edition of the ChessMasters tournament is scheduled to take place on May 2 at Eko Hotels and Suites.
Organisers expect participation from about 150 schools across Lagos, with over 700 pupils set to compete. The event will feature prizes worth up to N10 million, providing further motivation for students to showcase their skills.
With increased corporate support and growing interest from schools, ChessMasters continues to position itself as a key platform for discovering and nurturing young talents in Nigeria.
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