Nigeria: Stanbic IBTC Offers Educational Solutions to Parents, Schools

20 January 2021

In an effort aimed at improving access to quality education in Nigeria, Stanbic IBTC Holdings PLC, recently presented a bouquet of educational solutions to empower parents and guardians to send their wards back to school with ease, while also enabling school owners to acquire attractive educational facilities that will support learning goals.

To ensure stress-free investments towards their ward's education, the bank is offering parents and guardians a savings portfolio for young children and tertiary institution students through its Children Educational Savings Scheme (CHESS) and BlueEdge, respectively. The CHESS account offers a higher interest rate than what is earned on regular savings account while the BluEdge savings account allows students to open accounts with zero balances and still earn monthly interest, thus taking away the pressure of setting up an account with huge funds.

For longer-term educational planning, Stanbic IBTC urges parents and guardians to take advantage of the Stanbic IBTC Education Trust (SET) which is designed to help them fund their children and wards' education through a flexible and convenient plan with long-term benefits.

The Chief Executive, Stanbic IBTC Trustees Limited, Mr. Charles Omoera, said the bank scientifically estimates the cost of education using key economic parameters and then offers parents/guardians flexible contribution options to select from so that they can effectively plan how to fund their wards' education now and in later years.

To ensure educators are also covered, and the children's education is not hindered in any way, he said Stanbic IBTC, through its school loan offer, is giving flexible financial support to school owners to meet urgent cash-flow needs for replacement of old furniture, refurbishment of dilapidated buildings, purchase of stationery, among others.

"As usual, all of Stanbic IBTC's electronic channels remain available and easily accessible to ensure that school fees' payments and back-to-school purchases can be made with ease either via the USSD - *909#, internet banking, the mobile app - #Appyness, any ATM nationwide or using a debit/credit card.

On the uniqueness of these solutions, Wole Adeniyi, Chief Executive of the bank said the Stanbic IBTC back-to-school offers are geared towards making the school resumption season easier and more seamless for parents, guardians, and school owners, such that they can meet urgent financial needs at minimal costs.

"Preparation for school resumption after the Christmas festivities are usually fun, particularly for children. However, the excitement could be dampened if parents have to struggle for school fees and other mandatory payments. Stanbic IBTC knows this, and as such, developed the 'Back to School' educational package to help reduce the financial burden on parents and guardians," he said.

He advised school owners and parents to avail themselves of the benefits of the Stanbic IBTC 'back to school' solutions saying that the organisation has pledged its continuous commitment to the development of education and achievement of educational dreams in the country.

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