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Stanbic IBTC Creates School Fees Payment Products for Parents

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Stanbic IBTC Bank Logo white

By Dipo Olowookere

As children prepare and get excited to resume of the 2019/2020 academic session this month, some parents are running helter skelter looking for how they can pay school fees.

But Stanbic IBTC Bank Plc, a member of Stanbic IBTC Holdings Plc, has come to the rescue with the introduction of a suite of educational payment products that will ease the burden of school fees which parents and guardians have to bear.

Stanbic IBTC Bank Plc, being a Nigerian bank, specifically developed the educational products, taking cognisance of the country’s cultural nuances.

The first of the solutions is the EZ cash loan/advance. Parents and wards, who are strapped for cash at the point when school fees payment are due, can take advantage of the EZ cash loan which gives access to loans, in less than a minute, to pre-approved customers.

Salaried employees can also take advantage of Salary Advance (SALAD), another of the bank’s short-term loans that are quick and easy to get.

Another of Stanbic IBTC Bank Plc’s educational products is an international money transfer solution for payment of school fees and allowances abroad.

Added to that are prepaid cards which can be preloaded with pocket money for children/wards, while the credit cards, which currently offer a 55-day interest moratorium, can be used to seamlessly pay school fees.

According to the CEO of Stanbic IBTC Bank, Dr. Demola Sogunle, the bank attaches a high premium to learning, hence the need to develop solutions which parents and guardians can take advantage of to ensure that their wards get the desired level of education.

“We are a Nigerian bank and we realise that whilst parents and guardians may have desired levels of education for their children, funding may be a deterrent in the pursuit of these dreams.

“We have hence developed these products which will ease the burden of school fees payment while also providing satisfaction to the parents and guardians that their wards are getting good education,” he said.

Mr Sogunle identified a deep understanding of Nigeria and developing tailor-made solutions as factors that distinguishes Stanbic IBTC Bank as a leading Nigerian financial institution.

He added that the bank’s loan products offer fast, simple and convenient ways by which customers can meet their short-term financial obligations to educate their wards, with very convenient repayment terms.

Other benefits of the school fees loans are: access to a revolving line of credit, flexible repayment terms, and the opportunity to access credit up to 100 percent of the customer’s income. With schools resuming for a new term, the school fees loans will help to alleviate the financial burden parents and guardians may face in paying school fees.

The Stanbic IBTC Bank chief explained that the conditions for accessing the loan products were having a salary account with the bank; or having investments with any of the Stanbic IBTC group subsidiaries.

Loan applicants can walk into any branch of the bank and apply for any of the education loans in a few easy steps. The application is then processed and the customer is contacted with feedback.

Stanbic IBTC Holdings is a Nigerian financial institution with eight subsidiaries and an estimated staff strength of 5,000 Nigerians.

Furthermore, 80 percent of the Stanbic IBTC board members are Nigerian.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Education

Kidnappings: FG Reopens 47 Unity Schools

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unity schools nigeria

By Adedapo Adesanya

The federal government has announced the reopening of the 47 unity schools earlier shut down due to security concerns on November 21.

This was disclosed in a statement by the Federal Ministry of Education on Thursday.

It said that the decision to reopen the affected colleges across the country reaffirmed its unwavering commitment to safeguarding students and ensuring the continuity of education.

On November 18, 2025, over 20 schoolgirls were kidnapped by unidentified armed men from the Government Girls Comprehensive Secondary School in Maga, Kebbi state.

Just three days later, on November 21, about 303 students and 12 teachers were kidnapped at St. Mary’s Catholic Primary and Secondary School in Papiri, Niger state.

In response, the federal government shut down 47 Federal Unity Colleges, and some states including Katsina, Taraba, and Niger also closed schools or restricted school activities, particularly boarding institutions.

Rights group including Human Rights Watch lamented that while these measures were aimed at protecting students, they disrupted learning for thousands of children, denied them access to education, and the social and psychological support schools provide.

FULL LIST OF AFFECTED UNITY COLLEGES

North-West:
FGGC Minjibir, FTC Ganduje, FGGC Zaria, FTC Kafanchan, FGGC Bakori, FTC Dayi, FGC Daura, FGGC Tambuwal, FSC Sokoto, FTC Wurno, FGC Gusau, FGC Anka, FGGC Gwandu, FGC Birnin Yauri, FTC Zuru, FGGC Kazaure, FGC Kiyawa, FTC Hadejia.

North-East:
FGGC Potiskum, FGC Buni Yadi, FTC Gashua, FTC Michika, FGC Ganye, FGC Azare, FTC Misau, FGGC Bajoga, FGC Billiri, FTC Zambuk.

North-Central:
FGGC Bida, FGC New-Bussa, FTC Kuta-Shiroro, FGA Suleja, FGC Ilorin, FGGC Omu-Aran, FTC Gwanara, FGC Ugwolawo, FGGC Kabba, FGGC Bwari, FGC Rubochi, FGGC Abaji.

South-West:
FTC Ikare Akoko, FTC Ijebu-Imusin, FTC Ushi-Ekiti, FTC Ogugu.

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Education

Coursera, Udemy Announce $2.5bn Merger

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Coursera and Udemy

By Adedapo Adesanya

Online learning platforms, Coursera and Udemy, have reached an agreement to merge in an all-stock transaction, with the combined company’s implied equity value estimated at approximately $2.5 billion.

The agreement, unanimously approved by both companies’ boards of directors, stipulates that Udemy shareholders will receive 0.8 shares of Coursera common stock for each Udemy share held.

Upon completion of the merger, Coursera shareholders are expected to own about 59 per cent and Udemy shareholders approximately 41 per cent of the new entity on a fully diluted basis.

The combined company will continue under the Coursera name, and maintain its headquarters in Mountain View, California.

Coursera, founded in 2012 by Mr Andrew Ng and Ms Daphne Koller, is an online learning platform with 191 million registered users as of September 30, 2025. It collaborates with over 375 universities and industry partners to offer courses, specialisations, professional certificates, and degrees.

The platform includes features such as generative AI (gen AI) tools (Coach, Role Play, Course Builder) and role-based solutions (Skills Tracks) to support scalable and personalised learning. Coursera is used by institutions for workforce development in fields such as gen AI, data science, technology, and business.

Udemy is a platform that provides on-demand, multi-language courses to help companies and individuals develop technical, business, and soft skills. It uses AI to offer personalised learning experiences and supports workforce development in a changing workplace.

Mr Greg Hart, currently CEO of Coursera, is set to lead the enlarged organisation as CEO after the merger.

The board will consist of nine members. Six from Coursera’s board, including chairman Mr Ng and CEO Mr Hart, and three from Udemy’s board.

“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry.

“Organisations and individuals around the world need a platform that is as agile as the new and emerging skills learners must master,” Mr Hart said.

The combination is said to create a complete ecosystem of top instructors supported by AI tools, data-driven insights, and broader distribution, enabling more engaging, personalised, and dynamic learning at scale.

Projected operational efficiencies include anticipated annual run-rate cost synergies of $115m within two years after closing.

Udemy CEO, Mr Hugo Sarrazin said: “For more than 15 years, Udemy has helped millions of people master in-demand skills at the speed of innovation.

“Through this combination with Coursera, we will create meaningful benefits for our learners, enterprise customers, and instructors, while delivering significant value to our shareholders, who will participate in the substantial upside potential of the combined company.”

The merger is anticipated to close in the second half of 2026, pending regulatory clearances, approval by both companies’ shareholders, and other customary closing conditions.

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Education

Luno, AltSchool Launch Crypto Education Programme for Nigerians

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Luno Safety of Funds

By Adedapo Adesanya

Global cryptocurrency platform, Luno and AltSchool Africa, an accredited online learning platform, have announced a strategic partnership aimed at demystifiing crypto to 15,000 Nigerians.

The initiative at that scale makes it Africa’s largest crypto education programme.

According to a joint statement on Wednesday, this is a significant step in Luno’s continued efforts to strengthen trust in digital assets and support safer participation in the digital economy.

This is hinged on Africa’s fast-growing digital finance landscape where 33 per cent of the country’s population already engage with digital assets, and a rapidly growing youth population are eager to participate in the digital economy.

According to the statement, the partnership aims to bridge the knowledge gap by providing structured, practical, and safe crypto education.

This will be done by combining Luno’s experience in promoting safe crypto participation with AltSchool Africa’s capability in delivering accessible digital skills training.

“The course directly addresses the misinformation and financial risks associated with unregulated digital assets, while demonstrating real-world applications tailored to African contexts,” the joint statement added.

The initiative will be implemented in three cohorts of 5,000 learners each. Applications for Cohort 1 will be open from January to February 2026, with the course commencing in March 2026. Cohort 2 participants will gain access to the course in July 2026, while Cohort 3 participants will begin the programme in November 2026.

The programme will be led by Web3 expert Mr Abdulsamad Tiamiyu, who will provide a practical, Africa-focused introduction to cryptocurrency, showing how it can be used for saving, remittances, global trading, and entrepreneurship.

The curriculum consists of five core modules and is designed to be completed within three to four weeks.

Learners benefit from up to one year of access to all course materials, including online, self-paced video lessons, slides, quizzes, and case studies. The course combines theory with hands-on experience, where learners interact with wallets, exchanges, stablecoins, and research tools like CoinGecko and Etherscan.

According to the organisers, this approach gives learners the tools to confidently use digital currencies in everyday financial activities. Successful learners, upon passing the assessments, earn an AltSchool Africa Certificate of Completion.

Speaking on the partnership, Mr Ayotunde Alabi, CEO of Luno Nigeria, said: “This initiative is a crucial intervention in Africa’s digital ecosystem. As crypto adoption accelerates, formal literacy must grow alongside it, so individuals can benefit safely and meaningfully,”

“Our partnership with AltSchool Africa is a deliberate step toward that goal and a foundational investment in the integrity of the industry. By delivering structured, high-quality education, Luno is helping ensure that Africans can participate confidently, securely, and sustainably – turning what is often seen as risk into real economic opportunity,” he added.

Adding his input, Mr Adewale Yusuf, Co-founder and CEO of AltSchool Africa, said “This partnership between AltSchool and Luno is a major step toward financial education that truly serves Africans and helps people gain the knowledge and tools they need to understand crypto with confidence and use it in practical, life-changing ways.”

The programme is open to Nigerian residents aged 18 and above who are able to commit to completing it within four weeks. Applicants must have a Luno account or create one before enrolling.

Starting January, Interested participants are encouraged to submit application through the AltSchool Africa portal, with scholarship decisions communicated within one week.

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