No fewer than 4,000 young Nigerians have benefited from the LAPO Microfinance Bank Scholarship, with an investment of approximately N650 million since its inception in 2008.

Managing Director of LAPO Microfinance Bank, Mrs Cynthia Ikponmwosa, who disclosed this at the 2025 scholarship award ceremony held in Benin yesterday, said 451 students benefited from this year’s scholarship award.

Represented by Mrs Amen Akenbor, the Head of Stakeholders Engagement, Ikponmwosa said the 2025 scholarship covered 20 beneficiaries, comprising 246 from secondary school and 185 from vocational skill acquisition.
The MD stated: “Through this initiative, we are building a generation of educated and empowered young people who will, in turn, uplift others.”

Ikponmwosa, who stated that LAPO Microfinance Bank believes that education and skills acquisition are powerful tools for poverty alleviation, added: “Every year, we identify and support talented but financially constrained young Nigerians to pursue their dreams through our scholarship and skills development programmes.”

In his speech, the Chairman of the event, Senator Matthew Uroghide, who was represented by Emwinghare Osa-Kindness, stated that the LAPO MFB’s education empowerment programme had led to better employment, reduced poverty, and strengthened institutions.

In her speech, the Chairperson, LAPO Scholarship Board, Prof. Christiana Okojie, said the scholarship “initially focused on secondary education, the scheme expanded in 2011 to include university scholarships, recognising the need to help students from low-income families continue their education.”