The Management of LAPO Microfinance Bank Scholarship Board has said that it has so far invested about N650 million to award scholarships to over 4,300 young Nigerians across the country.

Cynthia Ikponmwosa, managing director of LAPO Microfinance Bank, disclosed this at the 2025 scholarship award to 451 students in Benin City.

Ikponmwosa, represented by Amen Akenbor, head, Stakeholders’ Engagement, LAPO, said the scheme, which started with 30 students in 2007, now awards scholarships to about 250 or more beneficiaries every session.

She saidthat iin the 2025 programme, 246 beneficiaries were secondary students, 20 tertiary institutions, while 185 were vocational skills acquisition students.

She said that in 2025, the bank spent about N60 million to support the beneficiaries’ education.

The LAPO Microfinance Bank boss, posited that the scheme was one of the financial institution’s Corporate Social Responsibility.

She opined that through the initiative, the organisation is building a generation of educated and empowered young people who will, in turn, uplift others.

According to her, “At LAPO Microfinance Bank, we believe that education and skills acquisition are powerful tools for poverty alleviation.

“Every year, we identify and support talented but financially constrained young Nigerians to pursue their dreams through our scholarship and skills development programmes.

“Each beneficiary’s story reminds us that our commitment to empowerment is yielding tangible results in families and communities nationwide.

“As we look to the future, LAPO Microfinance Bank remains committed to expanding this programme to reach more beneficiaries, strengthening mentorship support, and building partnerships that enhance opportunities for our youth.”

While congratulating the beneficiaries, she, however, advised that the scholarship award was a call to greater responsibility.

She also urged them to strive for excellence and use their education or acquired skills to contribute positively to society, as well as be disciplined, diligent and determined which represented the values of the bank.

She commended members of the scholarship board for their steadfast commitment, parents, guardians and community partners who share in the institution’s vision of inclusive growth and empowerment.

Earlier, in her address, Christiana Okojie, chairperson of the LAPO scholarship board, said the scheme was aimed at improving the lives of clients and indigent students.

Okojie added that the microfinance bank has, since its inception, awarded scholarships to over 4,300 students in secondary and tertiary institutions and about 900 skills acquisition students.

She said that the scheme has made a global statement in “Education for All”, noting that the concern for the female child education has enabled the Board to concentrate more on the girl child.

She said the concern is because the girl child is more prone to most social vices such as rape, drug, school dropout, early pregnancy, among others.

The LAPO scholarship board chairperson opined that due to the nation’s current economic challenges, many parents do not have the means to meet the financial burden of school fees, books, uniforms and other school expenses.

In her speech, Brandie Steven-Igbe, head, Sustainability Unit, LAPO MFB, said the scheme is a reaffirmation of the organisation’s commitment to Sustainable Development Goal 4, which emphasises Quality Education, seeks to ensure inclusive and equitable learning opportunities for all.

She assured that the LAPO scholarship scheme would continue to invest in young minds, break barriers to education, and build a more sustainable and empowered society.

In his remarks, Urhoghide Matthew, chairman of the occasion, commended the entire management of LAPO and the microfinance bank for the investment in the young ones’ education.

Urhoghide, represented by Emwinghare Osa-Kindness, his political aide, noted that the scheme aligned with the United Nations Sustainable Development Goal 4.

He said SDG 4 sought to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.

The immediate past senator who represented the Edo South senatorial district in the National Assembly noted that the education empowerment programme of LAPO Mfb had led to better employment, reduced poverty, and built stronger institutions.

He opined that education fuels innovation that can address problem solving skills, creativity, civil responsibility and the skills to adapt in a rapidly changing economy like Nigeria.