LAPO Microfinance Bank Limited says it has awarded scholarships to 3,487 secondary and university students between 2006 and 2021.
Honestus Ayo Obadiora, executive director of Lift Above Poverty Organisation, made the disclosure at the 2021 annual quiz of the institution in Benin City.
Obadiora also disclosed that a total of 1,934 schools have so far participated in the quiz since its inception in 2006.
He added that the financial institution spent the sum of N5.7 million for the 2021 quiz as well as boost science equipment in winning schools in Edo and Delta states.
He further said that over 370 public and private schools from the three senatorial districts of Edo and Delta states participated in the competition from the preliminary to the grand finale.
According to him, LAPO Microfinance Bank Limited is committed to the economic empowerment of low-income Nigerians through the creation of access to responsive financial services on a sustainable basis.
“As a pro-poor financial institution, the LAPO Microfinance Bank Limited supports activities which add value to the lives of low-income people and their children. These activities include the scholarship scheme, annual secondary school quiz competition, free legal services, health and social empowerment intervention programmes,” he said.
Obadiora opined that the objectives of the annual quiz include enhancing students’ understanding of science subjects and current affairs.
“Providing an equitable platform for teachers and students of various schools to exchange ideas and learning experiences as well as an avenue for participants to display excellent knowledge of sciences and current affairs,” he added.
The highlight of the competition was the presentation of the overall best three winners and their schools with the prestigious LAPO trophy and other valuable science equipment.
The overall best winning school was Deeper Life High School, Warri, while first and second runner-up are Baptist High School and Word of Faith Group of School all in Benin City.