Stanbic IBTC Awards Scholarship to Successful UTME Candidates

By Funmi Ogundare

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) conducted by Joint Admissions and Matriculation Board (JAMB).

The scholarship award worth N34.8 million, was part of the bank’s effort aimed at encouraging hardwork and academic excellence among the 87 beneficiaries who 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. Brilliant but Physically challenged candidates were among them.

Speaking at the virtual presentation of the scholarship, held recently, the Chief Executive, Stanbic IBTC Holdings PLC, Dr. Demola Sogunle, noted that the prosperity of the nation and its citizens was hinged on the educational development of the youths.

He added that the bank remained determined to provide the necessary support to brilliant students.

According to him, “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 among Nigerian students who desire tertiary education. The scholarship will enable them to pursue and realise their dreams of academic excellence.”

The scholarship, Sogunle said, will be disbursed to the 87 students in yearly tranches for a period of four academic years, adding that after the first tranche, subsequent disbursements will be subject to them maintaining at least a second-class upper grade and evidence of good conduct confirmed by their institutions.

The chief executive stated that an Education Trust Funds will be set up for the beneficiaries which will be accessed through the education trust accounts.

In 2019, the bank had announced its scholarship scheme to support, reward and encourage students who had excelled in their academic pursuit.

Sogunle said the initiative was in line with its commitment to value-driven corporate social investments, designed to contribute to youth’s educational development, adding that the programme was introduced as part of the financial institution’s 30th anniversary celebration.

The beneficiaries thanked the bank for its the gesture. A beneficiary, Master Omogbolahan Hammed-Saruk Omogbolaha who spoke on behalf of the beneficiaries, said the scholarship would allow them focus on their education, while assuring that they would continue to strive for academic excellence to justify their selection.

Education has remained a key focus area for Stanbic IBTC. The bank 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’.