Leading financial institution, Fidelity Bank plc, has explained why it recently initiated the on-going ‘Save 4 Scholarship’ promotion. The scholarship scheme is the bank’s fifth in recent times, and Fidelity Bank says it was introduced because the best legacy to give any one is education.

The scheme is tied to a savings product and will see the bank give away N80 million in form of scholarship, with the emergence of 200 winners through a five-year duration, with the highest prize put at N2 million.

Nnamdi Okonkwo, Managing Director and Chief Executive Officer, Fidelity Bank, says the bank appreciates the value that education plays in the life of a human which as that is the only legacy that can live with such a person forever.

His words: “At fidelity Bank, we are not in business to follow the crowd and that is the essence of this initiative. We are aware that some are out of school, not because they are not intelligent or lack of will to go to school, but the challenges of costs of bills associated with school. For the 200 people that will emerge at the end of the promotion, it is a great opportunity that they will cherish all through their lives.

“We affirm our commitment to developing products that contribute to the general well being of the society in which we operate. It is also part of the new direction of Fidelity Bank that is anchored on innovation.

“The initiative, besides increasing awareness on the need to acquire a savings culture, is also a veritable instrument to advancing the quest for financial inclusion in the country.”

On her part, Chijioke Ugochukwu, Fidelity Bank’s Executive Director, Shared Services, adds that the ‘Save 4 Scholarship’ is the bank’s contribution to the development of education, which is the most basic of human aspiration.

“Education all over the world should be made available to every level of the society and Fidelity Bank is tapping into this basic human need to improve our societies,” she says.

“We have given cars and any other kind of gifts that you can think of, but education is something that nobody can take away from you and that is why we are offering this promo,” she adds.

The winners’ prizes will be spread across five years but could be converted to cash. People of all ages and all savings account holders of Fidelity Bank are eligible for the promo.

•Photo shows Fidelity Bank’s MD/CEO, Nnamdi Okonkwo.