Stanbic IBTC Trustees introduces educational trust

STANBIC IBTC Trustees Limited, a subsidiary of Stanbic IBTC Holdings Plc, has launched an educational trust product to assist parents and guardians provide sound education for their children and wards.

The Stanbic IBTC Educational Trust (SET), which became operative in April 2015, offers numerous long-term benefits which assure beneficiaries of a brighter future via education and training. The product is focused on ensuring that the education of children is not truncated due to lack of financing, and to ensure that the desire of parents or guardians to fulfill their dreams of giving their children or wards a sound education is attained. Through the service, parents have an opportunity to make contributions towards funding the education of their children–whether it is primary, secondary, tertiary or even post-graduate education.

The client has the option of choosing a preferred plan with the funds easily accessed when required and are professionally managed by experienced investment managers. In addition, there is provision for direct payment of tuition and other fees to schools; a measure that negates any likely diversion of funds. Also in place is insurance coverage via an education protection plan to cover death or incapacitation of the settlor.

Coming from an institution with a stated goal of serving the individual from cradle through generations to grave, the Stanbic IBTC Educational Trust was conceptualized in recognition of the strategic role education plays in laying a solid foundation for growing future leaders, stated Binta Max-Gbinije, Chief Executive of Stanbic IBTC Trustees Limited, adding that education is essential for both individual accomplishment and socio-economic development.

She noted that a comfortable future life is directly tied to proper planning and investment, emphasizing that helping children attain their innate potential is a sure-footed path to a brighter future

“We are confident that the Stanbic IBTC Educational Trust is the right model to accelerate the pace of change in Nigeria’s educational sector. We believe that the product will also help to drive significant improvements in school enrolment and retention as parents take advantage of the trust to deal with the challenge of paying school fees,” Max-Gbinije said.

She described Stanbic IBTC Group as a financial solutions provider that helps move people towards their goals and remains a strategic partner to help actualize Nigeria’s huge economic potential.

Stanbic IBTC Educational Trust is available to people both in the formal and informal sectors of the economy.

Stanbic IBTC Trustees Limited (SITL) is a wholly owned subsidiary of Stanbic IBTC Holdings Plc and is part of a fiduciary team that has administered trusts for 35 years. The company is able to leverage the intellectual capital and international experience of Standard Bank’s multi-jurisdictional fiduciary team.