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Stanbic IBTC has called for applications for the maiden edition of its 2020 Scholarship Programme.

The Stanbic IBTC 2020 Scholarship Programme, geared towards encouraging hard work and academic excellence amongst Nigerian undergraduates, is open to students who sat for the 2020 Unified Tertiary Matriculation Examination (UTME) and have just gained admission into any of the tertiary institutions.

The foremost end-to-end financial services provider has said that the total scholarship value of at least N40 million, would be spread across four years and disbursed in tranches of N100,000 per academic year.

The bank also said that subsequent disbursement of the funds would be based on the maintenance of at least second-class upper grade and good conduct of the student as referenced by the university.

Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, said the organisation recognises the importance and impact of education in the life of every Nigerian youth. According to him: “Education empowers and encourages the youth to prepare for the future while also confronting challenges. Education is a  panacea for the growth and enduring development of any nation or organisation.”

 Eligibility

The Stanbic IBTC University Scholarship (The “Scholarship”) by Stanbic IBTC Holdings PLC (“Stanbic IBTC”, “we” or “us”) is only available to Applicants (“Applicants”, “They” or “You”) who:

  1. Reside in Nigeria and participated in the 2020 University Tertiary Matriculation Examinations (UTME) conducted by the Joint Admission and Matriculation Board (JAMB)
  2. Have a score of 200 and above in JAMB
  3. Have gained admission and have been properly enrolled in a Nigerian Federal or State University (“University”) with relevant evidence
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Agreement to official rules:

Entry/applications for the Scholarship is open to applicants from 01 September 2020 to 24 October 2020, no application shall be accepted after the entry/application expiration date.

How to enter:

Applicants may submit their applications by following these simple steps:

1.) Go to any of our social media pages on Instagram (@stanbicibtc), Twitter (@stanbicibtc), and Facebook (@stanbicibtc) and look for the post

2.) Click on the link, fill the required details, attach requested documents and submit. Successful Applicants will be notified only via an email.

3.) Where an applicant applies on more than one platform or submits multiple entries/applications, they shall still be entitled to only one Scholarship slot.

Selection

  1. The Scholarship will only be awarded to 100 Applicants spread across the 36 States of the federation and FCT with a minimum of 2 Applicants per State.
  2. The Scholarship will be offered on a first-come, first-serve basis until the 100 slots are allocated.
  3. Scholarships will only be awarded to applicants that follow the instructions and meet all the eligibility criteria.
  4. Winners will only be contacted through the valid email address they provide.

Applicants who plan on studying courses related to the “Future of work” will be an added advantage (for example Data Science, Business Analytics, Economics, Accounting, Finance, IT, and so on). Where an Applicant applies more than once/multiple times, they shall still be entitled to only one Scholarship slot. The decisions of Stanbic IBTC are final in all matters relating to the Scholarship.

Acceptance of Scholarship

Where you are successful and win the Scholarship, you must read and accept these Terms and Conditions and all other documents sent to your mail in full. By accepting this Scholarship from Stanbic IBTC, it is understood that you have read and agree to comply with these Terms and Conditions.

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Please note, if you are under 18 years of age, your parent or guardian must read and consent to these terms and conditions and other accompanying documents on your behalf. Also, note the following;

  1. Successful applicants will receive an email to confirm the outcome of their application and they will only be contacted through the valid email address they provide
  2. The email received from a Stanbic IBTC authorised email will detail the scholarship benefits, payment timing, and other important information as required
  3. They will then receive other documents and forms which they will be asked to fill, sign and return, to confirm that they agree to the terms and conditions as stated herein
  4. If Successful Applicants do not wish to accept the scholarship they have been offered, they should advise us immediately by sending an email to UniversityScholarship@stanbicibtc.com
  5. Failure to accept the scholarship offer within the period specified in the notifying email will result in forfeiture of the offer
  6. Successful Applicants will be required to open a Stanbic IBTC Education Trust account and Stanbic IBTC bank account for payment of the Scholarship fund
  7. Successful Applicants may be required to provide additional evidence via a link that would be provided to them or via a Stanbic IBTC authorized email. The additional evidence will include providing the admission letter from the admitting University.

Retention of Scholarship

To retain your scholarship, successful applicants must:

  1. Maintain an enrolled status in their respective Universities in the degree programme they were admitted for
  2. Adhere to the academic and administrative polices of the University and annually provide a Letter of good conduct issued by their respective department
  3. Maintain a Cumulative Grade Point Average (CGPA) of second class upper (a CGPA of at least 3.5 in a CGPA system of 5 points, at least 3.0 in a CGPA system of 4 points, at least 4.6 in a CGPA system of 7 points). Evidence of same must be provided at the beginning of every academic year before scholarship payment can be made.
  4. Meet any other additional criteria which would be communicated to you through email
  5. At the end of each academic year for the duration of your scholarship, you will be asked to provide a report detailing how the scholarship funds have been spent. It is the responsibility of the Successful applicant to provide this report at the specified time advised by Stanbic IBTC. Failure to return reports by the specified time, without reason, may result in future payments being withheld.
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Click here to apply.

Musa Suleiman
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