Sterling Bank Invests Over N2 Billion in Scholarships for Nigerian Students

• Sterling Bank has pledged over N2 billion for fully-funded private university scholarships aimed at empowering young Nigerians in high-impact fields
• The program is open to applicants from all 36 states and the FCT, with a merit-based admissions process and public voting for final selection.
• The initiative aligns with Sterling’s focus on long-term ecosystem development and its commitment to the HEART sectors, aiming to foster inclusive prosperity

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Sterling Bank has pledged over N2 billion for fully-funded private university scholarships aimed at young Nigerians.

Launched on Democracy Day, the initiative, called Beyond Education, marks a significant effort to shape the nation's future leaders by breaking down the obstacles preventing millions of Nigerians from accessing quality, forward-thinking education.

This initiative is one of the largest private sector investments ever made in a single Nigerian university. It underscores Sterling’s ongoing dedication to the HEART sectors: Health, Education, Agriculture, Renewable Energy, and Transportation. The bank has invested over half a trillion naira into financing and development initiatives across these key areas.

“Progress is not a spectator sport,” said Abubakar Suleiman, Chief Executive of Sterling Bank. “While others talk about Nigeria’s potential, we are actively investing in it. These scholarships are direct investments in the architects of our future. We are funding the education of future leaders who will build the companies, systems, institutions, and solutions Nigeria needs to thrive.”

The Sterling Beyond Education program will provide full sponsorship for 600 students to pursue studies in high-impact areas like Technology, Finance, Sales, and Public Health. It is available to young Nigerians from all 36 states and the FCT, with a merit-based and inclusive admissions process.

Candidates can either nominate themselves or be nominated by others, and the final selection will be based on a public voting process, exclusively open to Sterling account holders.

“This is what inclusive investment looks like,” said Obinna Ukachukwu, Growth Executive leading the Retail & Consumer Banking Directorate at Sterling Bank. “This initiative goes beyond access to education; it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.”

The pilot program is a collaboration with Miva University, established by the well-known tech entrepreneur Sim Shagaya. Miva, fully accredited by the National Universities Commission, is transforming higher education in Africa with scalable, affordable, and flexible programs designed to meet the needs of the digital economy.

This initiative also aligns with Sterling’s push for organisations to move beyond short-term philanthropy and focus on long-term ecosystem development. Through substantial investments in digitised healthcare, school financing, agricultural cooperatives, solar energy, and low-cost transportation systems, Sterling is creating pathways to inclusive prosperity.

Suleiman said,

“We’re moving beyond charity. This is about building systems that last, and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country.”

Nominations are now being accepted at www.sterling.ng/FUTURE. As Africa's youth population continues to rise, initiatives like Beyond Education could serve as a new model for private sector leadership, where success is measured not only by profit but also by the empowerment of individuals.

Sterling Bank set to refund transfer fee to customers

Legit.ng reported that On Tuesday, April 1, 2025, Sterling Bank announced a new development that will see the bank will eliminate fees on online transfers for all local transactions made through its mobile app, with immediate effect.

The bank also says it will reimburse all customers who were charged transfer fees on online transactions made on that day.

Replying to an X user who doubted the implementation of the new policy, the bank stated that it kicked off the new policy by 8:00AM of April 1st 2025.

Source: Legit.ng