Sterling Bank launches campaign to aid schools in Nigeria

Sterling Bank Plc has launched its Back-To-School Campaign, to relief parents, guardian, teachers and proprietors of schools in Nigeria.

According to the bank, the campaign is aimed at providing succor for all stakeholders in the sector as schools resume in September.

The primary target for the campaign are the primary and secondary schools (administrators, owners and teachers) while the secondary audience are all primary and secondary school-students and their parents.

Areas covered under the campaign include school financing, asset finance, textbook and educational materials Finance for schools.

This includes school fees finance for parents; coding and robotics summer boot camp for children, household equipment finance and training for teachers.

In a statement signed by Shina Atilola, the bank’s group head of strategy and finance, the bank explained that the school fees financing solution was introduced to provide parents with instant financing for school fees and allow them put their kids in school while awaiting salaries and other receivables.

He explained that under the bank’s asset finance scheme, Sterling Bank “can finance acquisition of Buses, ICT Infrastructure, Interactive Boards and other items the school may wish to purchase in the Back-to-School season under the asset finance scheme”.

The Bank’s chief strategist explained that Schools in the books of the Bank can access finance for a 90-day tenor at very competitive rates compared to the industry benchmark.

“This would be an incentive to school owners as surveys have shown that a large number of schools have challenges with payment of salaries and for renovation projects when school fees are not fully received,” he said.

Atilola added that existing and prospective schools can also enjoy free deployment of our Eduportal and Payment Gateway at no cost to the school.

He said the portal provides a platform to integrate the payment of school fees, levies and any other school-related payments.

“The platform also aids record-keeping, and make for seamless day-to-day management of operations in schools,” he adds.

Sterling Bank Plc, popularly called “the one-customer bank”, is a national commercial bank with an asset base of about N800 billion, over 187 business offices, and about 800 ATMs nationwide.