Nigeria: Stanbic IBTC Offers Policy for Students, Deepens Financial Inclusion

The bank in a bid to ensure that children are not hindered from going back to school, is offering a bouquet of urgent financial solutions to provide support to schools, parents, and students.

Inclusion Times
Inclusion Times

Stanbic IBTC, to deepen financial inclusion, is offering a bouquet of urgent financial solutions that will provide support to schools, parents, and students. The reason for doing this is to ensure that children are not hindered from going back to school.

The aim of these financial solutions is to empower parents and guardians to be able to send their wards back to school with ease, and not struggle with it. Also, the solutions allow school owners acquire attractive educational facilities that will enable and support teaching and learning.

Stanbic IBTC said it is offering to parents and guardians, a saving portfolio for young children and tertiary institution students through its Children Educational Savings Scheme (CHESS) and BlueEdge, and is ensuring that the investments towards their wards’ education is stress free.

The CHESS account gives a higher interest rate than what is obtainable in a regular savings account. The BlueEdge Savings Account lets students open zero balance accounts and earn monthly interest on the accounts. This removes for students the pressure to set up an account with huge funds.

The bank, for longer term educational planning, has provided Stanbic IBTC Education Trust (SET) and appealed for parents and guardians to take advantage of it. SET is set up to help them (parents and guardians) fund their children’s education through a convenient, flexible plan with long-term benefits.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank Plc.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank Plc, said of the financial investment plan that the back to school offers are geared towards making the school resumption season easier for parents, guardians, and school owners, so they can meet urgent financial needs at minimal costs. He added that for children, preparing to resume after Christmas festivities is usually fun. However, if parents have to struggle for school fees, that fun and excitement could be dampened. Stanbic IBTC knows this, and as such, developed the ‘Back to School’ educational package for parents and guardians to help reduce the financial burden on them.

Nigeria in focus:

Population: 200.9 million (2019)

GDP: $448.12 billion (2019)

GDP Per Capita: $2,229 (2019)

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