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General News 1 March 2021

Stanbic IBTC Gives N34.8m In Scholarship to Successful Applicants

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has awarded scholarships to successful candidates in the 2019 and 2020 University Tertiary Matriculation Examinations (UTME). This was done as part of its aspiration to encourage hardwork and excellence in academic pursuit. The 87 beneficiaries were drawn from the 36 states of the federation and the FCT. The beneficiaries comprised of 39 candidates who participated in the 2019 UTME and another 48 candidates drawn from the 2020 UTME. Physically challenged yet brilliant candidates were included. The presentation of the scholarships was conducted virtually on Thursday, 11 February 2021.

In 2019, Stanbic IBTC announced its scholarship scheme to support, reward and encourage students who had  excelled in their academic pursuit. The leading end-to-end financial solutions organisation said the initiative was in line with its commitment to value-driven corporate social investments, designed to contribute to youth’s educational development. The scholarship programme was introduced as part of the financial institution’s 30th anniversary celebration.

Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, said the prosperity of the nation and its citizens was  hinged on the youth’s educational development, and that the financial institution remained determined to provide the necessary support to brilliant students. He added, “Stanbic IBTC appreciates the fundamental role education plays in transforming society, which is why we have chosen to institute the scholarship to encourage hard work and academic excellence amongst Nigerian students who desire tertiary education. The scholarship will enable them to pursue and realise their dreams of academic excellence”.

“The scholarship will be disbursed to the 87 students in yearly tranches for a period of four academic years. However, after the first tranche, subsequent disbursements will be subject to maintaining at least a second-class upper grade and evidence of good conduct  confirmed by the school” Dr. Sogunle added. He further stated that, “Education Trust Funds will be set up for the beneficiaries, and the funds will be accessed through the Education Trust accounts”.

The beneficiaries were effusive in their appreciation of the gesture. A beneficiary, Hammed-Saruk Omogbolahan who spoke during the virtual ceremony, thanked Stanbic IBTC for the scholarship. He said the scholarship would allow them focus on their education, and he assured that they would  continue to strive for academic excellence to justify their selection. 

Education has remained a key focus area for Stanbic IBTC, and the financial institution has continued to play a leading role in transforming lives through education. Other scholarship initiatives organised by the financial institution include those awarded to indigent children who have suffered limb losses, under its signature CSI initiative tagged Together4ALimb. 

Stanbic IBTC is committed to identifying opportunities to help mould the next generation of leaders and help build a robust education sector that Nigerians can be proud of.