Stanbic IBTC Holdings PLC, a member of Standard Bank Group, awarded scholarship to 100 Nigerian youths who had excelled in University Tertiary Matriculation Examination (UTME) and had gained admission for the 2021-2022 academic session.
A statement said the grants, which would provide the students with the financial aid needed to fulfill their educational needs and pursue their dreams, demonstrated the financial institution’s commitment towards the growth of the Nigerian education sector.
Each of the successful candidates, who had recently gained admission into universities, would receive scholarships valued at N400,000. The grants would be disbursed in tranches of N100,000 across four academic years.
The financial institution stated that it focused on empowering bright-minded individuals with the capacity to gain adequate knowledge needed to become great men and women in life.
The initiative which commenced in 2019 now has had almost 200 recipients. The beneficiaries were chosen across the six geo-political zones in Nigeria through fair screening processes.
According to Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings, the scholarship was borne out of the need to empower hardworking and diligent young Nigerian undergraduates, who aspired to pursue their tertiary education in any state or federal university in Nigeria.
“We believe that everyone deserves a chance to access quality education and we believe in rewarding students who have shown remarkable academic excellence. This initiative will go a long way in easing the financial burdens of these undergraduates who participated in the UTME and gained admission into various Nigerian state and federal universities for the 2021-2022 academic session. We are pleased to announce the 100 winners of this year’s scholarship scheme for undergraduates in 33 universities across the 36 states and the FCT. We wish them great success in their academic journey” he said.
Asides the first tranche of disbursement, subsequent disbursements would be subject to beneficiaries maintaining their enrolment in their respective universities and degree programs they were admitted into, adhering to the academic and administrative policies of the university, and the provision of a letter of good conduct issued by their respective departments. Beneficiaries would also be required to maintain a Cumulative Grade Point Average (CGPA) of at least a second class upper range, amongst other requirements.
Demola further added that education remained one of the keys to facilitating a nation’s prosperity, hence the introduction of the scholarship initiative.
Stanbic IBTC remains committed to driving value-added initiatives like the University Scholarship programme to contribute to the educational development of the Nigerian youth.