WEMA Bank unveils N1m support fund to 20 school children

The lender explained that the fund will help ease some of the burdens of paying school fees and other academic fees at such an economically tough time.

It is worthy of note that one of the biggest challenges the coronavirus pandemic created was the shortage of money, as businesses are just slowly finding their feet, and parents of school children aren’t having it easy.

Explaining how to qualify for WEMA’s contribution to school fees payments, the bank noted that parents and guardians are required to open a Royal Kiddies Account at a Wema Bank branch with a minimum of N100, 000 before September 12, 2020, and parents whose children have existing Royal Kiddies Account can qualify by topping up their balance to N100,000 before the deadline.

As schools plan to physically resume in the coming months, and for parents who are keeping their children learning virtually, there is no doubt that the financial weight is more than many Nigerian parents can realistically pull alone.

“Apart from supporting parents financially, this initiative also provides a great opportunity to get more parents and guardians to pay attention to their children’s finances by opening a Royal kiddies account for them. With a competitive interest rate of 4.75 percent on savings, an e-Purse for electronic transactions amongst many other perks, Royal Kiddies account holders are given an early start to building their finances, and well on their way to securing a bright future.

“Since the launch of this historic fund in 2013, more than 100 Nigerian school children have benefitted from it, and with the world battling the debilitating economic consequences of a pandemic now, this initiative couldn’t be arriving at a better time. This year’s Wema Educational fund reflects the selfless generosity common with these times, and the tenacity with which corporations, big and small can exhibit social responsibility, kindness, and consideration”, the bank added.