The management of LAPO Microfinance Bank has given over N400m scholarships to 3,952 students since the scheme began in 2007.
The Managing Director, LAPO Microfinance Bank, Cynthia Ikponmwosa, disclosed this at the Scholarship and Skills Acquisition Award Ceremony on Thursday in Benin, saying N50m scholarships would be given to 180 secondary and higher institution students in 34 states.
Ikponmwosa represented by Director of Marketing, Oluremi Akande, said, “I am pleased to inform you that we have 180 new beneficiaries that will be awarded scholarships this year, across 34 States where LAPO operates in Nigeria.
“For us at LAPO, this presents an opportunity to complement our Corporate Social Responsibility with the ambition of parents to actualise the educational dream for their wards.
“So far, the noble efforts of the LAPO scholarship scheme have nurtured the dreams of 3,951 students who benefitted N400 million since its inception in 2007,” she said.
She noted that the scholarship scheme remained an important event within the framework of the organisation’s commitment to educational development in line with its vision and mission mandate to improve lives.
Ikponmwosa opined that educational empowerment was the company’s way of supporting its clients’ children and the less privileged in society.
She also disclosed that Partners for Development had empowered over 200 students within the LAPO scholarship scheme between 2014 and 2023.
She added that from 2016 till date, a total of 924 skilled youths had been trained and certified in various vocations, commending the National Directorate of Employment and the National Business and Technical Examinations Board for their immense contributions to the success of LAPO skills acquisition scheme.
The LAPO MFB boss appealed for the support of corporate organissation and development-focused individuals in expanding the scope of the scheme.
Earlier, Christiana Okojie, chairperson, LAPO scholarship scheme congratulated the beneficiaries on the award and advised them to put in their best in academic activities.
Okojie, said the organisation spent nothing less than N30 million for the scheme annually, noting that the management would not hesitate to withdraw the award from any student for poor academy performance.