Sterling Bank has marked Democracy Day with the announcement of a landmark N2 billion scholarship programme aimed at providing fully-funded private university education for 600 young Nigerians.

The initiative, titled Beyond Education, was launched as part of the bank’s strategic commitment to inclusive development and long-term national transformation.

Announced in Lagos on 12 June 2025, the Beyond Education scheme is one of the largest private sector investments ever made in a single Nigerian tertiary institution. It forms part of Sterling’s broader commitment to the HEART sectors: Health, Education, Agriculture, Renewable Energy, and Transportation, sectors in which the bank has already deployed over N500 billion in financing and development initiatives.

Chief Executive of Sterling Bank, Abubakar Suleiman, said, “Progress is not a spectator sport. While others talk about Nigeria’s potential, we are actively investing in it. These scholarships are direct investments in the architects of our future. We are funding the education of future leaders who will build the companies, systems, institutions, and solutions Nigeria needs to thrive.”

The programme is open to candidates from all 36 states and the FCT. Beneficiaries will pursue degrees in high-impact fields such as Technology, Finance, Sales, and Public Health. The selection process will be merit-based and inclusive, allowing for both self-nomination and third-party nomination, with final candidates chosen through a public voting system open exclusively to Sterling account holders.

Growth Executive overseeing Sterling’s Retail and Consumer Banking Directorate, Obinna Ukachukwu, said, “This is what inclusive investment looks like. This initiative goes beyond access to education — it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.”

The pilot phase of the initiative is in partnership with Miva University, an accredited private institution founded by renowned tech entrepreneur Sim Shagaya. Miva University is redefining tertiary education in Africa with flexible, technology-driven, and affordable learning tailored to meet the demands of the digital economy.

Sterling Bank says the Beyond Education programme reflects its call for a shift from short-term philanthropy to long-term ecosystem development. “We’re moving beyond charity,” Suleiman added. “This is about building systems that last — and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country.”

Nominations for the programme are now open at http://www.sterling.ng/FUTURE. As Africa’s youth population continues to expand, Sterling Bank’s initiative offers a forward-thinking blueprint for how private sector actors can measure impact not only in profit, but in the number of lives empowered. (THISDAY)