Intercontinental Bank Plc will today launch the Intercontinental Bank-Enugu State scholarship scheme in continuation of its nationwide corporate social responsibility projects.
The beneficiaries under the scheme are indigenes of the state in tertiary institutions across the country and each will be entitled to N50,000 per annum. At the full cycle of the scheme, the bank would be spending about N25million per annum.
The formal presentation of the scholarships to the first batch of the beneficiaries in the state would be performed by the state governor, Mr. Sullivan Iheanacho Chime, whose government in collaboration with the bank, will continue to honour this award to the beneficiaries annually until they graduate, while more batches would be added every year.
The number of beneficiaries in this programme is about 500 and about 1600 students across the 13 states are currently enjoying the scheme, bringing the cumulative number of beneficiaries of Intercontinental Bank’s Scholarships to over 2100 across the country.
This number is in addition to the annual Intercontinental Diamond Fund (IDF) scholarship programme targeted at the wards of the customers across the country.
Intercontinental Bank-Enugu State Scholarship Scheme is the bank’s way of partnering with state governments in enhancing access to quality education.
The bank has currently launched the scheme in over 13 states in the country with several hundreds of beneficiaries enjoying annual scholarship awards.
The states include Lagos, Ondo, Ekiti, Anambra, Ebonyi, Bayelsa, Edo, Niger, Sokoto, Katsina, Kaduna, Jigawa and kwara states. Other states are lined up till end of the year.
The bank in a statement, however, explained that its involvement in education goes beyond giving scholarships to the students.
“We are strongly committed to helping in the building of a world-class educational system in the country. We are concerned with the continuous decline in the quality of graduates produced by our tertiary institutions.
"The deplorable situation is largely the reason Intercontinental Bank has and will continue to intervene directly in the provision of world class students’ hostel infrastructure and lecture halls in schools. To date, the bank has donated such projects to 18 tertiary institutions in Nigeria and about five more are currently under way for commissioning later in the year.
In the past five years, Intercontinental Bank has spent over N1billion on this crucial sector alone.
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