Stanbic IBTC Scholarship for Nigerian Students 2022 [UPDATED]

We are pleased to inform the general public that the application portal for the 2022 Stanbic IBTC University Scholarship for Nigerian Students is now OPEN

Duration of Award: A total period of Four (4) years from the day of acceptance, notwithstanding the length of the degree programme. The Scholarship shall be paid at the beginning of every academic year subject to the terms and conditions contained herein.

RECOMMENDED: Scholarships and Opportunities for Nigerian Students.

About Stanbic IBTC University Scholarship

This initiative is in continuance of Stanbic IBTC Bank goal to support dreams and aspirations of Nigerian youths as they have  been doing over the years through various activities such as Youth Leadership Series (YLS), Higher Institution Football League (HIFL) and so on.

The scholarship programme is aimed at encouraging hard work and academic excellence amongst Nigerian undergraduates and it is open to students who participated in the 2022 Unified Tertiary Matriculation Examination (UTME) and have just gained admission into any Nigerian state or federal university.

The total value of the award is N40 million for 100 beneficiary students while each beneficiary would receive N400,000.

According to the organization, the amount will be spread equally across four academic years provided such beneficiaries maintain, at least, a second-class upper grade and be of good conduct as referenced by the university. 

To qualify, an applicant must have a minimum score of 250 out of 400 possible marks in the 2022 UTME with letter of admission into any of the public universities in the country.

Students Eligible to Apply for Stanbic IBTC University Scholarship

The scholarship is only available to Applicants who:

1. Reside in Nigeria and participated in the 2022 University Tertiary Matriculation Examinations (UTME) conducted by the Joint Admission and Matriculation Board (JAMB)
2. Have a score of 250 and above in JAMB
3. Have gained admission and have been properly enrolled in a Nigerian Federal or State University with relevant evidence.

How to Apply for Stanbic IBTC University Scholarship

• Go to StanbicIBTC Scholarship Portal
• Fill the required details, attach requested documents and submit
• Successful Applicants will be notified only via an email.
• Where an applicant applies on more than one platform or submits multiple entries/applications, they shall still be entitled to only one Scholarship slot.

The following documents are required for upload to apply for the scholarship.

• Recent Passport Photograph
• Valid ID Card
• UTME Result
• O’Level ( WAEC, NECO or GCE) Statement of Result or Certificate
• JAMB or University Admission Letter

Selection:

1. The Scholarship will only be awarded to 100 Applicants spread across the 36 States of the federation and FCT with a minimum of 2 Applicants per State.
2. The Scholarship will be offered on a first come, first serve basis until the 100 slots are allocated.
3. Scholarships will only be awarded to applicants that follow the instructions and meet all the eligibility criteria.
4. Winners will only be contacted through the valid email address they provide.
5. Applicants who plan on studying courses related to the “Future of work” will be an added advantage (for example Data Science, Business Analytics, Economics, Accounting, Finance, IT and so on).
6. Where an Applicant applies more than once/multiple times, they shall still be entitled to only one Scholarship slot.
7. The decisions of Stanbic IBTC are final in all matters relating to the Scholarship.

Acceptance of Scholarship
Where you are successful and win the Scholarship, you must read and accept these Terms and Conditions and all other documents sent to your mail in full. By accepting this Scholarship from Stanbic IBTC, it is understood that you have read and agree to comply with these Terms and Conditions.
Please note, if you are under 18 years of age, your parent or guardian must read and consent to these terms and conditions and other accompanying documents on your behalf
Also note the following;

1. Successful applicants will receive an email to confirm the outcome of their application and they will only be contacted through the valid email address they provide
2. The email received from a Stanbic IBTC authorised email will detail the scholarship benefits, payment timing and other important information as required
3. They will then receive other documents and forms which they will be asked to fill, sign and return, to confirm that they agree to the terms and conditions as stated herein
4. If Successful Applicants do not wish to accept the scholarship they have been offered, they should advise us immediately by sending an email to UniversityScholarship@stanbicibtc.com
5. Failure to accept the scholarship offer within the period specified in the notifying email will result into forfeiture of the offer
6. Successful Applicants will be required to open a Stanbic IBTC Education Trust account and Stanbic IBTC bank account for payment of the Scholarship fund
7. Successful Applicants may be required to provide additional evidence via a link that would be provided to them or via a Stanbic IBTC authorized email. The additional evidence will include providing the admission letter from the admitting University.

Please Note:

• The Scholarship is awarded on the basis that you will maintain an enrolled status at the University in your admitted degree programme
• The Stanbic IBTC University Scholarship does not apply to employees of Stanbic IBTC and/or their immediate family members, where there are entries by employees of Stanbic IBTC or their immediate family members, it will not be rewarded.
• This scholarship is not (at all) sponsored by, run by or associated with, Facebook, Twitter, LinkedIn or Instagram.
• Stanbic IBTC reserves the right to decline participation in the Scholarship for any applicant at their discretion.

Retention of Stanbic IBTC University Scholarship

To retain your scholarship, successful applicants must:

1. Maintain an enrolled status in their respective Universities in the degree programme they were admitted for
2. Adhere to the academic and administrative polices of the University and annually provide a Letter of good conduct issued by their respective department
3. Maintain a Cumulative Grade Point Average (CGPA) of second class upper (a CGPA of at least 3.5 in a CGPA system of 5 points, at least 3.0 in a CGPA system of 4 points, at least 4.6 in a CGPA system of 7 points). Evidence of same must be provided at the beginning of every academic year before scholarship payment can be made.
4. Meet any other additional criteria which would be communicated to you through email
5. At the end of each academic year for the duration of your scholarship, you will be asked to provide a report detailing how the scholarship funds have been spent. It is the responsibility of the Successful applicant to provide this report at the specified time advised by Stanbic IBTC. Failure to return reports by the specified time, without reason, may result in future payments being withheld.
6. Kindly note that the successful applicants would be entitled to this Scholarship for a total period of Four (4) years from the day of acceptance, notwithstanding the length of the degree programme. The Scholarship shall be paid at the beginning of every academic year subject to the terms and conditions contained herein.

Termination of Scholarship

Stanbic IBTC may terminate your scholarship if

1. You withdraw or transfer from your programme of study,
2. You are suspended or excluded from the whole or part of the University or your programme.
3. You are expelled from the University.
4. You have made any misrepresentation (whether negligently or intentionally) to us either in respect of applying for the Scholarship or during the course of and in connection with your studies at the University
5. You have acted fraudulently or dishonestly in connection with securing your Scholarship or place at the University.
6. If your scholarship is terminated, you will not receive any further payments. You may be required to repay some, or all of the scholarship funds received by you where your termination relates to.

Closing Date: 30th November 2022.