Released on 30 Aug 2010

In line with its Corporate Social Responsibility (CSR), Intercontinental Bank has launched a National Essay Competition for Nigerian university undergraduates to commemorate the nation’s 50th Independence Anniversary in October.
At a Press briefing held in our Head Office on Monday, the Group Managing Director/Chief Executive, Mr. Mahmoud Lai Alabi, explained that the essay competition, tagged “50 Stars @ 50”, was initiated to not only expand the scope of the bank’s commitment to educational development but also our modest way of demonstrating our genuine desire to continuously support human capital development in the country.

“Over the years, as you are aware, Intercontinental Bank has shown deep commitment to the development of the nation’s education sector through State Scholarship schemes and other donations to institutions of higher learning. We are strongly committed to building a world-class educational system as well as developing the intellectual capacity of Nigerian students through laudable projects such as the one we are here to flag of today. We in Intercontinental Bank recognise the fact that, 50 years represents a significant milestone in the history of any nation. It is in this light that the bank, as a responsible corporate citizen, came up with the idea of a national essay competition, not only as our contribution to the nation’s golden jubilee celebrations but also as a way of engaging Nigerian university students intellectually. The essay will seek to engage the participants on a soul-searching adventure on the nation’s journey so far and in the end produce illuminating expose enunciating how far we have gone as a nation, what we have achieved, the pitfalls, and how best to achieve a better Nigeria”, Alabi said.

According to the bank boss, the objectives of the competition which has as its topic: ‘Nigeria: A Nation at 50, The Past, the Future’ are specifically to celebrate with Nigeria and Nigerians at 50 and to create a strong pedestal for getting the input of Nigerian youths into the process of national planning, leadership and nation-building.
He said at the end of the cut-off date for submission, a team of professors drawn from the universities would be saddled with the responsibility of critically assessing the collated essays from where 50 winners will emerge.
Alabi explained that contrary to the widespread belief in some quarters that there was nothing really to celebrate in Nigeria’s 50 years of nationhood, there was every reason to be jubilant especially for the country’s survival after 50 years of independence given the enormous challenges the country has gone through over the years and the hope that the future offers more promises to Nigerians than the past that had been characterized by socio-economic deprivations.

The Entry Form has been hosted on the bank’s website for intending participants to download free and also in paper format available in all branches of the bank where prospective candidates could pick them. Completed Entries are to be returned to the branches from where they will be moved to the Head Office through the 10 regional offices. Other details about the competition are available in the Press adverts and radio jingles. At the end of the competition, the overall 50 winners would be recognized as 50th Anniversary STARS and every STAR shall be rewarded with a prize. The overall best essay writer will be rewarded with an educational grant of N500,000, cash prize of N500,000 and one HP mini laptop; the second best will get N300,000 educational grant, N300,000 cash prize and one mini laptop; the third best will get N200,000 educational grant, N200,000 cash prize and a mini laptop while the 4th-50th winners will get one mini laptop each.
The 50 Stars will be unveiled to the world in a ceremony in Lagos during the nation’s 50th Independence Anniversary.