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FCMB unveils advisory services for overseas studies 


First City Monument Bank plc, FCMB.

First City Monument Bank (FCMB) has unveiled an advisory services initiative that offers financial services tailored to meet the needs of its customers in the area of acquiring education abroad.

The initiative tagged: “FCMB Education Advisory Service”, is in partnership with MOD Group, an international education promotion and marketing company with operations in Nigeria and West Africa sub-region.

According to the lender, it is part of the bank’s contributions towards developing a new generation of brilliant minds that would take Nigeria to the next level.The initiative, the bank said is opened to customers and or their children who want to obtain undergraduate and post-graduate degrees overseas.


Speaking at the launch of the initiative recently, the Executive Director, Retail Banking of FCMB, Olu Akanmu, stated the commitment of the bank to champion and execute initiatives that would promote education and knowledge acquisition among Nigerians. He said the initiative covers school admission process; Visa processing, travel and examination Preparation.

“We recognise that knowledge of what to do and how to do it matters in securing good overseas education. FCMB will also be providing prompt school fees and living allowances remittance, loans to support school fees payment and international cards to support living overseas for Nigerian students.

“We have Lufthansa Airline, beside other partner airlines on board to offer students, discounted fares under this scheme. This also covers their guardians accompanying them. In addition, we have AXA Mansard coming on board to provide medical cover for the students to the tune of $60,000 a year. ”

The Managing Director of MOD Group, Michael Dosunmu, who expressed gratitude to FCMB for the partnership, said funding was one of the major challenges Nigerians who desire to study abroad face.However, with the partnership, Dosunmu said the challenges would be addressed.“By providing a platform for Nigerians, especially young ones to study abroad, we will be helping to develop a new set of manpower equipped with the required international exposure, knowledge and skills to champion the development of the country. We therefore urge all those who have big dreams for their children and families to take advantage of this opportunity.”

The Permanent Secretary and Tutor General, Ministry of Education in Lagos State, Olufunmilayo Onadipe, described the scheme as a step in the right direction. She said: “Education is the bedrock of any society. For FCMB and MOD Group to come up with this package is an indication that they are committed to providing the necessary support to assist families and our young ones develop academically.”

On his part, Head of Communications, British Council, Edemekong Uyoh, said, “We consider the FCMB Education Advisory Service as an initiative that would give opportunities for young Nigerians and enhance capacity. The more educated we are, the more we can add value to our lives, economy and the society. At the British Council, we are particular about providing young people with pathways for the future. This is one of the initiatives that also align with our objectives and we are happy to associate with it.’. 

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