The St. Charles Old Boys Association (SCOBA) Stanza 838 has proposed the establishment of a Scholarship Endowment Fund, valued at approximately 10 million Naira. This initiative aims to provide sustainable educational support to deserving recent graduates of St. Charles Grammar School and children of SCOBA Stanza 838 members.
According to the report signed by Charlean Dr. Segun Odejide, Chairman of the Stanza’s Education Committee, and Charlean Dayo Durotoye, Secretary, the dual-target approach will enable the alumni to invest in both the current generation of students and the future of the Stanza community. The fund’s capital will be invested in low-risk ventures, with only the returns used for annual scholarships and awards, ensuring the principal fund remains intact.
The committee report also made it known that the annual report of all inflows, the investment yield and the disbursement of funds to beneficiaries shall be made open to the whole house through various bodies working with the committee. It also added that the governance structure and scholarship application modalities will be announced on the stanza’s website.
The proposed scholarship endowment fund strategy has received widespread acclaim from SCOBA Stanza 838 members, with many expressing interest and forwarding their financial contributions. This initiative is expected to leave a lasting legacy, uplifting the current generation of students and supporting the children of the alumni community.
In his commendation response, the SCOBA Stanza 838 Chairman, Charlean Akinjide Salami appreciated the efforts of all the members of the Education Committee as headed by Charlean Dr. Segun Odejide for the crafting of the well-thought-out funding program for the scholarship. He also promised to provide the program with all the support it deserves, while encouraging all other members to join in their various capacities.
0 Comments