Stanbic IBTC supports businesses looted during unrest

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has empowered small and medium scale enterprises across the nation to revive and rebuild their businesses through the Stanbic IBTC, “#Rebuilding- Together” initiative.



In a statement, the lender said that the initiative was borne out of the need to assist Nigerians whose businesses were significantly affected by the unrest that resulted from the ENDSARs protests that rocked the country in October 2020.


Wole Adeniyi, Chief Executive, Stanbic IBTC Bank Plc, noted the initiative was geared towards providing succour and support to business owners who were negatively impacted by the protests.


He said: “Many entrepreneurs lost virtually all they had; what had taken them years of toil, blood, sweat, tears and hard work to build.

We could not just sit back and do nothing, so we introduced #RebuildingTogether to help business enterprises rebuild and stay on the path of growth.” Adeniyi further assured business owners of the financial institution’s support in their time of need.


According to the statement, successful applicants were selected from various parts of the country. Significantly, however, not all the beneficiaries of the grant country were customers of the bank.


One of the beneficiaries of the initiative, Alao Lateef, narrated his ordeal, stating how his shop was vandalised during the crisis. Mr Alao ran A4 wears, at a shop in Palms Mall, Shoprite, Ilorin, Kwara State.


Also, Dr Modupe Olorunnimbe of Vision Aids Eye Clinic, another recipient of the grant, said that her business was paralysed due to the theft of vital tools from her business premises.


Other beneficiaries of the Stanbic IBTC grant included, Feyisola Oyegunle, who ran Bakers and Parties Choice, George Patrick Chukwunonye of Arbitrage and Mercantile Republic and Olasumbo Obaseki of Arike Signature.


Azeez Bukola of Bukky Rehoboth Global, Olanrewaju Akinfenwa of FFDI Meat and Food Venture, Oluwakemi Osinibi of MandK Activity Center Ltd and Somtoo Augustus Nwachukwu of 2106 Energy Limited were also among the beneficiaries of the grant.




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