Sterling Bank Launches N2bn Scholarship for Private University Students

Sterling Bank has unveiled a N2 billion scholarship initiative targeting 600 young Nigerians enrolled in private universities across the country.

Announced on Democracy Day and themed ‘Beyond Education’, the scholarship aims to dismantle barriers to quality and future-focused education, according to the bank. It marks the largest single private sector investment ever made in a Nigerian tertiary institution.

Chief Executive Officer 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—those who will build the companies, systems, and solutions Nigeria needs to thrive.”

Suleiman explained that the programme moves beyond traditional charity and reflects the bank’s broader commitment to long-term ecosystem development.

“We’re moving beyond charity. 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,” he added.

The Sterling Beyond Education programme will fully sponsor 600 students to study in high-impact fields such as technology, finance, sales, and public health. It is open to applicants from all 36 states and the Federal Capital Territory, with a merit-based and inclusive selection process.

Candidates may nominate themselves or be nominated by others, with final selections determined through a public voting process accessible exclusively to Sterling account holders.

“This is what inclusive investment looks like,” said Obinna Ukachukwu, Growth Executive leading the Retail & Consumer Banking Directorate. “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 initiative is in partnership with Miva University, an accredited private institution founded by technology entrepreneur Sim Shagaya.