Nigeria: Stanbic IBTC Trustees Introduces Education Trust Scheme

Stanbic IBTC Trustees Limited has created the Stanbic IBTC Education Trust (SET) scheme. SET is a convenient and flexible investment plan with long term benefits, designed to support parents and guardians as they strive to provide quality education for their children and wards.

The investment plan helps parents and guardians prepare for rainy days to ensure their children and wards have access to excellent learning.

According to a statement, parents and guardians are also able to nominate SET as a beneficiary for their insurance policies, “as this can help cushion the effect of a parent or guardian’s death or permanent disability on the education of the child or ward.”

Speaking on the rationale behind SET, Chief Executive, Stanbic IBTC Trustees Limited, Charles Omoera, stated that the organisation understands the importance of quality education on individuals and the country’s economic growth.

“We understand the major role quality education plays in laying a good foundation towards building future leaders.

“That is why at Stanbic IBTC, we encourage parents and guardians to properly plan and invest in educational trusts like SET to avoid occurrences that might bring their children or wards’ education to a halt,” he said.

According to him, an education trust helps smoothen the rough financial edges when adverse circumstances occur and makes the attainment of family goals and aspirations seamless to achieve.

One unique benefit of SET is that payments are effected directly to the institution of learning thereby ensuring there are no diversion of funds, he said.

He added that parents owe their children and wards quality education to help them unlock the unique opportunities that quality education offers.

“With smart investments, attaining a great future is more achievable for our child. Whether it is primary, secondary, tertiary or post-graduate education, parents and guardians now have an opportunity to make contributions towards funding the education of their children and wards,” he added.

Rand Merchant Bank Wins Awards

Rand Merchant Bank Nigeria Limited (RMBN) said it recently won the Business Day Merchant Bank of the Year award for the third year in a row and the Debt Arranger of the Year award for the second consecutive year at the Banks & Other Financial Institutions Awards.

Commenting on the awards, RMBN CEO & Regional Head RMB West Africa, Michael Larbie said: “We are extremely proud to be a significant player in the Nigerian financial industry. The awards are a testament to the hard thinking and innovative solutions we deliver to our clients.”

During the year, RMBN was also awarded the Debt Deal of the Year at the 2020 African Bankers Awards for the Bank of Industry (BOI) €1 billion syndicated term loan.

RMBN acted as Mandated Lead Arranger, Bookrunner and Joint Underwriter and was instrumental in executing this transaction for BOI amidst strong headwinds from the COVID-19 pandemic and oil price volatility.

In addition, RMBN was also awarded M & A Deal of the Year by the Association of Issuing Houses of Nigeria for its role in executing the merger between the Cement Company of Northern Nigeria Plc & Obu Cement Company Plc.


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