Education
Stanbic IBTC Creates School Fees Payment Products for Parents
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.
Education
6,300 Benefit N1.7bn from Teachers’ Endwell Scheme in Oyo
By Modupe Gbadeyanka
Over N1.7 billion has been disbursed to about 6,300 teachers and next-of-kin between 2022 and 2026 under the Teachers’ Social Security Scheme (Endwell Scheme) in Oyo State.
The Endwell scheme was conceived at a time when retiring teachers were abandoned by all tiers of government, and many faced severe psychological and financial distress due to late payment of gratuities and pensions.
But since its inception about three decades ago, the initiative has become a dependable social security support for thousands in the state.
At the 14th state (Biennial) general meeting of the Nigeria Union of Teachers (NUT) held at the Teachers’ House, Oluyole Estate, Ibadan, the chairman of the Board of Trustees, Mr Obasola Elijah Olayiwola, reaffirmed the scheme’s solid financial footing and consistent fulfilment of obligations to members.
During the presentation of the management report, he said the rise in benefit payments reflects an increasing number of retiring teachers and a growing subscriber base, boosted by the recruitment of new teachers by Governor Seyi Makinde.
He assured members that the scheme remains financially disciplined, saying, “The Endwell Scheme continues to be a strong pillar of support for our teachers. The steady increase in beneficiaries underscores our commitment to protecting the welfare of those who serve in our classrooms.”
He added that the board will continue to strengthen investment strategies to maintain sustainable returns for contributors.
On his part, the chairman of NUT Oyo State chapter, Mr Raji Oladimeji Ismael, said the new financial data confirms that the Endwell Scheme has entered a new era of stability, strength, and relevance.
He stated that the scheme’s uninterrupted performance over the last three decades, without any record of financial collapse, demonstrates its resilience despite past scepticism and opposition.
“Today marks another milestone in the history of Endwell. The gloomy days are completely over. The scheme has weathered storms, survived doubt, and continues to wax stronger daily,” he said.
Mr Oladimeji reiterated that the scheme has consistently paid Non-Refundable Terminal Benefits (NRTB) and death-in-service compensation to members and families across the state for three decades.
He praised past and present management teams, particularly the current Board led by Comrade Obasola, for consolidating the scheme’s successes, also commending subscribers for their loyalty and prompt dues payment.
A major highlight of the event was the special recognition and honour bestowed on the founding fathers and early contributors who played pivotal roles in the creation and successful take-off of the Endwell Scheme.
Those honoured included Comrade Anusat Babatunde Amuda, Comrade Ibrahim Bolomope, Comrade Elijah Olu Abiala, Comrade Suleiman Adediran, Mr Tade Ipadeola, Mrs J. L. Latunji, and Mr Oladiti Oladapo.
The union described them as visionaries whose courage and foresight midwifed a scheme that has now become a lifeline for thousands of educators in Oyo State, urging newly recruited teachers to join the scheme, stressing that Endwell remains one of the most reliable and effective welfare mechanisms available to educators in Oyo State.
Education
2026 Akada Children’s Book Festival Holds May 23
By Aduragbemi Omiyale
The 2026 edition of Akada Children’s Book Festival (ACBF) will take place on Saturday, May 23, at Rugby School Nigeria, Eko Atlantic, Lagos.
A statement from the organisers disclosed that this event, in its eighth year, will offer families a chance to engage their kids in fun, learning, and imagination all in one vibrant space.
The theme is Big Dreams, Brave Stories, and will feature different activities designed to move beyond passive participation, giving children the opportunity to engage actively with stories, explore their creativity, and connect with books in ways that feel natural and exciting.
Some of the rich and engaging line-up of activities designed to immerse children, parents, and educators in an interactive literary experience include author-led book readings, author meet-and-greet sessions, storytime sessions, book chats, book exhibitions and signings, workshops for children, workshops for parents and educators, writing and illustration competition announcements, scrabble and chess tournaments, theme song competition, sip and paint sessions, STEM activities, sensory play experiences, drama, music, and dance performances, and prizes and book giveaways.
The book festival encourages children to embrace courage, creativity, and self-expression. Through stories of adventure, bravery, and self-discovery, kids are inspired to dream boldly, ask questions, and see themselves as active participants in their own journeys.
As a result, some original children’s titles by Nigerian authors have been curated for the event. They include Lumi Drives from London to Lagos by Pelumi Nubi, Sim Sim Goes to the Salon by Tonye Faloughi-Ekezie, Amang Goes to the Village by Namse Udosen, and What Happened on Thursday? A Nigerian Civil War Story by Ayo Oyeku.
These books reflect diverse experiences and cultural contexts, allowing children to see themselves in the stories while exploring new worlds through literature.
Education
Controversial Nursery School English Language Textbook Not Approved—Lagos Govt
By Modupe Gbadeyanka
The Lagos State government has stressed that it did not approve the use of the controversial nursery school English language textbook in public and private schools in the state.
A mother had come online to criticise an alleged inappropriate content in her child’s textbook. It was claimed that the publisher of the book threatened to sue the woman.
Reacting to the development, the Permanent Secretary in the Lagos State Ministry of Basic and Secondary Education, Mrs Abisola Dokunmu-Adegbite, said the “textbook is not among the approved and recommended instructional materials authorised for use in public, or approved private schools across the state.”
According to her, the ministry maintains a strict policy on the selection and approval of educational materials to ensure that all learning resources are age-appropriate, morally sound, and align with the educational standards and values of the state.
She stated that based on preliminary findings, the “school featured in the video is located somewhere in Ojo Local Government, Lagos State.”
“The name of the school and publisher have been identified for further investigation and appropriate actions. The public is hereby assured of qualitative foundational education for our children in the state,” the senior government official said in a statement on Tuesday.
Mrs Dokunmu-Adegbite reiterated that only government-approved textbooks and instructional materials are permitted for use in schools in Lagos State, advising school administrators, proprietors, and teachers “to adhere strictly to these guidelines to safeguard the moral and academic development of our learners.”
She assured parents, guardians, educators, and the general public that the state government will always work hard to ensure children get quality education.
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