Stanbic IBTC Excites School with One Year Teachers’ Salary

By on December 5, 2019

A popular African saying states that the reward of teachers is in heaven. Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has however chosen to reward teachers for their role in imparting knowledge on children. The staff of the Transactional Products & Services unit of the bank donated a year’s teachers’ salary to the management of Comenius Nursery and Primary School, a tuition-free elementary school for poor children. The school is an initiative of Street2School, an NGO that sponsors and supports the education programmes of poor and marginalized children.

Mr. Inwang Akpan, Head, Transactional Products and Services and Mrs. Ojinika Shote, Head, Cash Management, Transactional Products and Services; both of Stanbic IBTC Bank PLC, made the presentation of the cheque to Mrs. Oluwatosin Taiwo, the Proprietress of Comenius Nursery and Primary School.

Mr Akpan stated that the donation was made to the teachers in appreciation of their dedication to providing quality education to the less privileged children.

Mr. Akpan said: “They say that the reward for teachers is in heaven, but pending when you receive that reward in heaven, there is a lot that needs to be done here to support you while we are still on earth. That is the major reason why we decided to support your efforts.”

L-R: Mrs. Oluwatosin Taiwo, Founder, Street 2 School Initiative and Proprietress, Comenius Nursery & Primary School; Miss. Olowokande Adeyemi, Teacher, Comenius Nursery & Primary School; Aminat Bakare, a pupil of Comenius Nursery & Primary School; Miss. Taiwo Garba, Head Teacher, Comenius Nursery & Primary School; Akingbade Micheal, a pupil of Comenius Nursery & Primary School; Mr. Inwang Akpan, Head, Transactional Products & Services, Stanbic IBTC Bank PLC and Mrs. Ojinika Shote, Head, Cash Management, Transactional Products & Services, Stanbic IBTC Bank PLC; during the presentation of One Year Teachers’ Salary, donated to the school by Stanbic IBTC Bank PLC at City Hall, Lagos Island, Lagos on November 19.


Speaking in the same vein, Mrs. Shote added that the essence of the donation was to appreciate the teachers for their tireless efforts in providing quality education to their pupils of Comenius Nursery and Primary School.

She stated: “Without teachers, there will be no school. We decided to work with a well renowned NGO, Street2School, that we know is doing great work and to support them in their quest to run a free school. That’s why we decided to support the teachers under the aegis of the Street2School initiative with one year’s salary’s worth.”

While expressing her gratitude to the management of Stanbic IBTC Holdings PLC, Mrs. Taiwo noted that paying the teachers’ salary had been a burden since the inception of the free-school program. According to her, the move by the company was a push towards ensuring that every child has access to quality education and learning. The payment of the teachers’ salaries kicks off from November 2019 to October 2020.

The employees of the Corporate and Investment Banking (CIB) unit of Stanbic IBTC had earlier embarked on similar CSR initiatives at Girls Senior Academy and the Special Correctional Centre for Boys, both located in Lagos.

The employees of the CIB unit planted the seeds of financial literacy in the minds and hearts of the Girls Senior Academy students. The students were tutored on career development, acquisition of life skills and the cultivation of financial planning for their future.

Mr. Funso Akere, Chief Executive, Stanbic IBTC Capital, encouraged the students imbibe the habit of hard work, adding that they can succeed if they are determined and focused in pursuing their dreams.

The Compliance team of Stanbic IBTC Pension Managers Ltd provided groceries, school items, food items and other important supplies to the Special Correctional Centre for Boys.

Edidiong Akan, Head, Compliance, Stanbic IBTC Pensions, explained that the unit decided to make the donations because of the importance the financial institution attaches to supporting children’s education and enhancing learning experiences.

Education is one of the CSR pillars of Stanbic IBTC Holdings PLC; with health and economic empowerment being the other areas of focus.

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