Thursday, August 20, 2009

Nigerian bank spends 5 Million Naira on Scholarships for 100 students

The Intercontinental Bank spent N5 million on scholarships for about 100 students from Katsina state studying in various higher institutions across Nigeria.

Chief Executive Officer of the bank, Dr. Erastus Akingbola issued the cheques to the state government and said each beneficiary would get N50,000 a year until they finish their studies.

According to Dr. Akinbola, the gesture was the bank's way of partnering with state governments towards enhancing access to quality education.

Governor Ibrahim Shema thanked the bank for partnering with the state to develop the sector, and said that his administration made the sector its priority to ensure continuity in developmental efforts.

The Governor said the state had exceeded the United Nation's 25 percent appropriation to the sector, as it allocated about 28 percent of its annual budget to education alone, adding that the emphasis on the sector was because no society could develop without investing in the education sector.

The state renders free services to students and pays the examination fees for students in secondary schools according to Governor Shema. It had also constructed 102 secondary schools across the 34 council areas of the state in the last two years, adding that more structures were under way as part of the effort to ensure that children in the state got access to quality education for a better tomorrow.

This Day

Related story: Nigerian Philanthropist gives 5,000 students scholarships

No comments:

Post a Comment