Stanbic IBTC Holdings PLC, a subsidiary of Standard Bank Group has awarded scholarships to 100 Nigerian youths who excelled in the University Tertiary Matriculation Examination (UTME) and were admitted for the 2021-2022 academic year.
The grants, which would provide students with financial assistance to meet their educational needs and pursue their dreams, demonstrated the financial institution’s commitment to the growth of the Nigerian education sector.
Each of the successful candidates, who had recently been admitted to universities, would receive an N400,000 scholarship.
The grants would be distributed in N100,000 increments over four academic years.
According to the financial institution, it is focused on providing bright-minded individuals with the ability to gain the necessary knowledge to become great men and women in life.
The initiative, which began in 2019, now has nearly 200 recipients.
Beneficiaries were chosen through fair screening processes across Nigeria’s six geopolitical zones.
According to Dr. Demola Sogunle, Chief Executive Officer of Stanbic IBTC Holdings, the scholarship was created to empower hardworking and diligent young Nigerian undergraduates who aspired to study at 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.
Aside from the first tranche, subsequent disbursements would be contingent on beneficiaries maintaining their enrolment in their respective universities and degree programmes, adhering to the university’s academic and administrative policies, and providing a letter of good conduct issued by their respective departments. Beneficiaries must also maintain a Cumulative Grade Point Average (CGPA) of at least a second-class upper range, among other requirements.
Demola went on to say that education is still one of the most important factors in a country’s prosperity, which is why the scholarship programme was created.
Stanbic IBTC remains committed to driving value-added initiatives such as the University Scholarship programme to help Nigerian youth with their educational development.
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