By Bianca Iboma-Emefu
Stanbic IBTC Holdings PLC has awarded scholarships to 100 Nigerian youths who excelled in the Unified Tertiary Matriculation Examination (UTME) and gained admission for the 2021-2022 academic session.
According to a statement, the grants, which would provide the students with financial aid to fulfill their educational needs and pursue their dreams, demonstrate the financial institution’s commitment to the growth of the nation’s 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 the bright-minded students with the capacity to gain adequate knowledge needed to become great men and women in life.
The initiative, which commenced in 2019, now has almost 200 recipients. The beneficiaries were chosen across the six geopolitical zones of the country through fair screening processes.
Chief executive officer of Stanbic IBTC Holdings, Dr. Demola Sogunle, said 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 state and federal universities in 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 of disbursement, subsequent disbursements would be subject to beneficiaries maintaining their enrolment in their respective universities and degree programmes 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, among other requirements.